The President Javier Milei He surprised this Friday when recommending on social networks a token called $ Libra. After the announcement, the cryptocurrency experienced an initial fury, reaching a peak of U $ S4,978 then collapse to U $ S0,99159 In a few hours. Is that the Token Libra, in a few hours, registered an exponential rise in its price and already It is worth the same as a large bank of Argentina, about US $ 6,000 million.
Specialists explained that it is a unit of digital value that works within a network based on blockchain technology, and that your goal is unclear.
They clarified that $ Libra is not a traditional cryptocurrencybut a simple contract in Solana, which implies that it does not have the support of its own network or solid technological development.
Unlike consolidated cryptocurrencies such as Bitcoin or Ethereum, which operate in decentralized networks with robust security mechanisms, $ Libra is just a token created inside the Blockchain of the Solana platformwithout real value guarantees or stability. Memecoins are usually highly speculative and vulnerable to steep price falls, so investing in them can represent a high risk.
Solana is a general access blockchain platform with intelligent contract functionality. It was founded in 2017 and the main network was launched in March 2020.
In 2021, specialists pointed out that Solana could be a “long -term potential competitor of Ethereum”, referring to the high speed of transactions and the lowest accompanying expenses.
Experts warn that, As there is no clear information about the creators and their real purpose, it is possible that $ Libra is simply a price manipulation schemewhere the first buyers inflate their value and then sell and leave the project, leaving many investors with significant losses, it was noted in the market. Therefore, they recommend caution before acquiring this type of digital assets.
The recommendations of the specialists before investing
Before investing, It is essential to verify if the project has a reliable equipment, sufficient liquidity and a clear utility within the Solana ecosystem.
To track the activity of this contract in Solana and avoid possible scams, tools such as Solscan, Jupiter and Dexscreener.
The project claims to be developed by an entity called “Kip Network” and places a contact email that, however serious it may seem, is a Gmail address.
The Dextools explorer shows trading data from the launch of the Token. It can be seen there that, just one hour from having been launched, they traded More than 500 million dollars in Libra.
The striking and little serious characteristics of this cryptocurrency have aroused the Doubts in the Bitcoiner community.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
