LIBRA Token Unfreeze Triggers 400% Rally, Unlocks $57M USDC
Judge Jennifer Rochon of the Southern District of New York lifted a June freeze on $57 million in USDC tied to the LIBRA token lawsuit after defendants complied with court procedures.
This LIBRA token unfreeze restored liquidity. It spurred a near 400% rally in LIBRA’s price and pushed daily trading volume to about $70,000.
Despite the rebound, LIBRA remains deeply below its February peak and faces ongoing class-action fraud allegations. Defendants plan a motion to dismiss.
Traders should note the ruling’s impact on on-chain asset security, liquidity, and legal risks.
Bullish
The court’s decision to lift the freeze on $57M USDC directly unlocked liquidity and triggered a nearly 400% price surge in LIBRA. This decisive court ruling and the subsequent token rally enhance short-term bullish sentiment by restoring market confidence and increasing trading activity. In the long term, however, ongoing legal proceedings and fraud allegations pose risks. Yet, the unfreeze demonstrates robust on-chain asset security, likely supporting sustained interest and potential further gains.