The Pope's Death Sparks Frenzy, LUCE Soars Over 200% Briefly

By: blockbeats|2025/04/21 20:15:03

On the morning of April 21, the Vatican has confirmed: Pope Francis, the 266th Pope of the Roman Catholic Church, has passed away at the age of 88. Cardinal Kevin Farrell announced on a Vatican television program in the morning of the 21st, "Dear brothers and sisters, it is with deep sadness that I must announce that our Pope Francis has passed away. At 7:35 a.m. this morning, Pope Francis returned to the Kingdom of the Lord. He spent his entire life in the service of the Lord and the Church."

This news quickly sparked global attention, not only stirring the faith and emotions of 1.4 billion Catholics but also affecting the cryptocurrency market. As a great figure has passed away, the crypto community has its unique way of commemoration—issuing and hyping related meme coins. Below are several tokens with high trading volumes in the past 24 hours.

The first reaction came from the meme coin named LUCE after the Vatican mascot. To promote the 2025 "Holy Year" celebration, the Vatican introduced a 2D mascot named "Luce" in October 2024, meaning "light." Its design blends religious symbols with modern pop culture: the yellow raincoat symbolizes the Vatican flag, muddy rain boots represent the hardships of pilgrimage, the shell cane symbolizes "enlightenment and hope," and the pet dog Santino symbolizes loyalty, attracting the attention of younger generations to Catholic culture. Subsequently, a meme coin of the same name on the Solana blockchain emerged, with a market value soaring to $362 million at one point, becoming the first cryptocurrency deeply tied to a religious theme.

After the announcement, LUCE quickly surged in value, with a market value rising from $9.08 million to $28.19 million in 45 minutes, a staggering 210.46% increase. However, due to a lack of sustained growth momentum, the market value steadily fell after reaching its peak and is currently around $16 million.

It is worth noting that three days ago, the suspected LUCE whale / liquidity provider dumped their holdings, leading to an instant 80% crash in the LUCE token. Today, LUCE quickly rebounded in response to the news of the passing, leaving one to lament the impermanence of worldly affairs.

The FRANCIS token, named after Pope Francis, saw its market value soar to over $5 million shortly after the news was announced but has now plummeted to around $600,000. This token is a typical example of short-term hype driven by the "celebrity effect," lacking fundamental support and swiftly returning to zero once the hype dies down.

In addition, the hype has shifted focus to the next papal candidate, Italian Cardinal Pietro Parolin. As an Italian Catholic bishop and the Vatican Secretary of State, he has facilitated US-Cuba relations and the Sino-Vatican Agreement, seen as a pragmatic candidate. A token named "POPE" briefly surpassed a million-dollar market cap, but due to unclear election results and waning market sentiment, most of them returned to zero. Furthermore, tokens representing potential candidates such as Tagle from the Philippines and Turkson from Ghana briefly gained traction but eventually fell silent.

The passing of Pope Francis was a significant global religious event, which also became a hot topic in the crypto market. The short-lived frenzy and rapid collapse of various coins reflected the speculative nature of meme coins: high risk, high reward, but no underlying fundamentals. Investors should adhere to a cautious approach, rationally deal with "emotion and hype," and avoid chasing prices due to temporary emotions or FOMO.

During his tenure, Pope Francis not only focused on those fleeing war and hunger but also on those trapped in poverty, earning him the title "People's Pope." Throughout his life, he battled illness with courage and humor, from a humble childhood in Buenos Aires to becoming the leader of the Catholic Church with 1.3 billion followers as the 266th Pope. As this Pope who tirelessly worked for peace and justice passes away, regardless of how the market consumes and speculates, let us sincerely wish him a peaceful journey.

-- Price

On June 9, The Kobeissi Letter, citing Goldman Sachs data, reported that global investors are selling South Korean stocks at an unusually rapid pace. In the latest trading session, foreign investors sold about $801 million worth of Kospi constituent stocks again; total foreign outflows last week reached about $10 billion, and the market has been in net foreign selling on nearly every trading day over the past month. According to the data cited in the report, foreign investors have sold about $75 billion worth of South Korean stocks so far this year. Meanwhile, South Korean retail and institutional investors together recorded roughly $69 billion in net buying over the same period, suggesting that the market’s main buying support has come from domestic capital rather than returning overseas funds. The information currently disclosed still mainly comes from The Kobeissi Letter’s retelling and Goldman Sachs data summaries, while public details on the statistical period and the specific definition of “selling” remain relatively limited.

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