- Launch Coin on Believe price surged suddenly, jumping 60% to a high of $0.118.
- The rally triggered a wave of liquidations, inflicting losses on crypto trading firms.
The price of Launch Coin on Believe (LAUNCHCOIN) soared nearly 60% in early trading on Tuesday, a sudden pump that inflicted heavy losses on short positions.
The rapid price spike also triggered a cascade of liquidations, with on-chain data showing liquidity providers suffered more than $4 million in losses.
Launch Coin on Believe spikes 60% in sudden pump
Cryptocurrencies such as Worldcoin and MYX Finance rode bullish headlines to top-performing charts over the past 24 hours. Meanwhile, small-cap token LAUNCHCOIN drew strong social attention.
As noted, Launch Coin on Believe saw a sharp price surge of almost 60%. Trading around $0.076 during early Asian session activity, LAUNCHCOIN suddenly pumped to $0.132.
The sudden spike produced a 60% gain that caught many traders betting on continued consolidation or a decline off guard.
Fueled by intense buying pressure—driven by speculative trading and potential market manipulation—LAUNCHCOIN’s daily trading volume surged sharply.
According to CoinGecko, the rapid rally pushed volume on centralized exchanges such as LBank and Bitget up by 540%, reaching roughly $255 million over 24 hours.
The more-than-fourfold increase from the previous day underscores a marked rise in market activity.
$4 million lost amid liquidation cascade
While buyers celebrated the price explosion, LAUNCHCOIN’s rally inflicted heavy losses on notable market participants.
Analyst account Lookonchain reported that a wallet linked to market maker GSR suffered one of the largest losses as the token’s price climbed.
The wallet, which had been hedging short positions in LAUNCHCOIN, was fully liquidated. That amounted to roughly $4 million in losses as additional GSR Market positions were wiped out in a liquidation cascade on decentralized exchange Hyperliquid.
Because the LAUNCHCOIN rally liquidated leveraged shorts that were betting on price drops, other positions were also eradicated. Lookonchain highlighted additional GSR Market shorts caught in the blowup, including positions in Mantle, Popcat, Chainlink, and Lido DAO.
“Liquidation of #GSRMarkets’ short positions triggered a domino effect, wiping out their other shorts in $MNT, $POPCAT, $LINK, and $LDO, and closing the account,” Lookonchain posted.
LAUNCHCOIN currently trades around $0.091, a pullback from its intraday high. The $0.08 level—above which bulls seized control during the pump—will likely act as a key support if prices slide further.
As LAUNCHCOIN searches for a decisive next move, analysts say the episode underscores how crypto trading markets can present lucrative opportunities while also becoming ruthless arenas where fortunes can reverse in an instant.