Investors Lose $250M in Libra Memecoin – 3 Better Rated Cryptos To Buy Now

Argentina is facing a major scandal. President Javier Milei shared a post about a memecoin called $LIBRA. People now call this the “cryptogate” scandal. On February 14th, Milei posted about the coin on social media. He said it was “dedicated to encouraging the growth of Argentina’s economy.” Later, he claimed he was just sharing information, not promoting cryptocurrency.

The market went crazy after the president’s post. The value of $LIBRA quickly rose to almost US$5. People trusted it because the president mentioned it. But the high price didn’t last long. Within just two hours, the coin’s value dropped by about 90%. Many investors lost their money in this sudden crash.

The financial damage was huge. Trading reached about US$4.5 billion in total. But investors lost around US$250 million when the value collapsed. This shows how risky memecoins and cryptocurrencies can be. They can go up and down very quickly.

Milei tried to fix the situation. He deleted his original post. He said he didn’t know much about the project. But people were already angry. Many legal complaints have been filed in Argentina and the United States. The public now questions whether they can trust the president on financial matters.

The political problems are getting worse. Some lawmakers want to impeach Milei. Others are calling for investigations. Beyond the political crisis, the scandal raises important questions. How should Argentina regulate digital currencies? How can they protect people from risky cryptocurrency schemes?

Let’s take a look at 3 cryptos to buy now that could potentially be better crypto picks than Libra in the months ahead.

ChowWow – Top Altcoin to Buy Now?

ChowWow is a new crypto project that recently launched the presale for their native token $CHOW. The presale quickly raised over $180,000. But, why are investors rushing to buy this new token?

ChowWow brings together play-to-earn and stake-to-earn in one project. It runs on the Solana blockchain. The project aims to create real demand for its $CHOW token through community activities and smart token design.

ChowWow uses Solana because it’s faster and cheaper than Ethereum-based coins. The $CHOW token costs $0.01 in this presale phase after starting at $0.008. The launch price is set at $0.0288 which could mean over 200% return. Half of all tokens are available during presale, making it easy for all types of investors to join.

The Chow Gaming Kingdom lets players enjoy mini-games, finish tasks, and compete with others. You need to hold $CHOW tokens to earn rewards while playing. The $CHOW token is the only currency accepted for purchases in the games. Some tokens from game sales go to a rewards pool that gets shared among players.

The total supply of $CHOW tokens is 888,777. Half goes to presale, while 10% is kept for staking rewards. These rewards offer 8-15% yearly returns depending on how long you stake and how many people participate. 

Another 5% of tokens goes to airdrops and building the community. Some tokens are also set aside to boost gaming rewards. To keep the token valuable, ChowWow burns tokens and buys them back, which reduces supply and might increase the price.

Every week, ChowWow runs a meme competition. People create memes and share them on social media with ChowWow tags. The best memes get selected for voting in Telegram polls. The winner gets $1000 in USDT each week.

Visit ChowWow Presale

Kaspa – Undervalued Crypto Ready to Surge?

Kaspa is an open-source cryptocurrency that works differently from Bitcoin or Ethereum. It uses something called a Directed Acyclic Graph (DAG), or BlockDAG for short. This technology lets the system create and check multiple blocks at the same time. This makes transactions much faster and helps the system handle more users.

The speed comes from this multi-block approach. Kaspa uses the GhostDAG protocol to prioritize the most important blocks first. It still uses proof-of-work mining like Bitcoin, but tries to be more energy-efficient so smaller miners can join in.

When you send Kaspa to someone, it confirms it in seconds rather than minutes. This makes it practical for everyday purchases. Their system keeps everything in the right order to prevent security problems. Right now, Kaspa’s total value sits around $2.58 billion.

Empyreal – Next Altcoin to Explode?

Empyreal makes blockchain coding easier for regular developers. Their SDK bridges the gap between traditional programming and crypto development. You don’t need to learn Solidity or other complex languages to build crypto apps. Developers simply pick the tools they need for things like trading, privacy, or cross-chain connections.

It’s a modular system – take what you need, leave the rest. Right now it works with Python, with JavaScript support coming soon. Their Enclave feature handles wallets and privacy, working with Oasis Sapphire to keep transactions confidential.

The coolest part might be how Empyreal brings AI into crypto. Developers can build apps that use AI for automated trading and real-time data processing. Worth about $19.37 million today, Empyreal is small but focused on making blockchain development more accessible to everyday coders.

Conclusion

The cryptocurrency market shows both promise and peril through projects like ChowWow and the $LIBRA scandal. ChowWow offers a thoughtful approach to gaming and earning on Solana with clear tokenomics and community engagement. This could potentially be one of the best altcoins to buy now.

Meanwhile, Argentina’s “cryptogate” scandal serves as a stark warning about the dangers of high-profile endorsements and rapid price swings in the memecoin space. These contrasting stories highlight an important lesson for crypto investors. 

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