Crypto.com Lists Milady (LADYS) NFT Memecoin Two Days After Elon Musk Tweet

Crypto investors and traders have been keeping a close eye on the sudden rise of a new memecoin called Milady (LADYS) after it was mentioned by billionaire Elon Musk on Twitter. Now, just days after Musk’s tweet, Singapore-based digital assets exchange Crypto.com has announced that it is listing LADYS on its platform. This move is expected to increase the popularity of LADYS among the wider cryptocurrency community.

According to Crypto.com, users of its app can now purchase LADYS at true cost with a variety of fiat currencies, including USD, EUR, and GBP. The addition of LADYS brings the number of supported cryptocurrencies and stablecoins on Crypto.com’s platform to over 250.

The rise of LADYS has been nothing short of meteoric. Since making its debut in the markets earlier this month, the meme asset has experienced an incredible increase of over 2000% in value after Musk’s tweet. This led to suspicions that the tweet may have been a coordinated effort to artificially pump up the price of LADYS.

Data from blockchain tracking platform Lookonchain revealed that a mysterious crypto wallet was created just one hour before Musk’s tweet about the meme asset, and it made a massive 2300% profit from trading LADYS. The wallet reportedly withdrew 25 Ethereum, worth $45,362 at the time, from Binance and bought 8 trillion LADYS at $0.000000005652. There were no other transactions in the wallet, leading to speculation that it was created specifically for the purpose of buying LADYS ahead of Musk’s tweet.

However, despite the initial hype around LADYS, its value has since plummeted. At the time of writing, it is trading for $0.00000005732, a 57.22% decrease during the last 24 hours. This is a significant drop from the price at which it was sold by the crypto wallet, which was $0.000000135961. Some analysts warn that LADYS may be a pump-and-dump scheme, which could lead to significant losses for those who invest in it. Others, however, remain optimistic about its potential as a meme asset in the crypto markets.