The often volatile world of cryptocurrency saw a drastic spike in the value of Milady (LADYS), a self-organizing memecoin of the nonfungible token (NFT) collection of the same-name anime character, after billionaire Elon Musk unexpectedly declared his intrigue. This prompted many major cryptocurrency exchanges to list LADYS and, after the token went sky-high, a whopping 26 trillion units were moved to exchanges worth $3.7 million.

Shortly thereafter, an important analyst found that 42 suspicious addresses were keeping a total of 205 trillion LADYS, corresponding to a market cap of $19 million and 23% of the total tokens circulated, had been transferred to 10 new addresses ten hours prior.

After the listing of the token by several exchanges, the LADYS craze cooled off quickly, with the token decreasing in price by 50% and the market cap plummeting to $50, 938,018.

Memecoins represent an attractive venture in the cryptocurrency industry, especially for those seeking quick profits. Still, their abrupt value growth is usually caused by community hype, making LADYS a warning signal of potential loss for more prudent investors.

It is getting easier to predict market crashes if we notice the suspicious addresses exchanging large amounts of tokens to exchanges, as we can remind ourselves in the case of LADYS. Therefore, caution is essential when investing in new digital currencies. Research, education and understanding of the market are key components to make informed decisions before investing in any cryptocurrency.



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