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The Pope's Death Sparks Frenzy, LUCE Soars Over 200% Briefly
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.
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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.
The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.
Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.
Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.
The trading process has been streamlined into five steps:
· Choose the trading asset
· Select long or short
· Input position size and leverage
· Confirm order details
· Confirm and open the position
The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.
Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:
· End-to-end encrypted private groups supporting up to 1024 members
· End-to-end encrypted voice communication
· One-click position sharing
· One-click trade copying
On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.
By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.
Mixin has also introduced a referral incentive system based on trading behavior:
· Users can join with an invite code
· Up to 60% of trading fees as referral rewards
· Incentive mechanism designed for long-term, sustainable earnings
This model aims to drive user-driven network expansion and organic growth.
Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:
· Separation of transaction account and asset storage
· User full control over assets
· Platform does not custody user funds
· Built-in privacy mechanisms to reduce data exposure
The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.
Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.
The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.
Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.
This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."
The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.
Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.
Its core capabilities include:
· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations
· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets
· Decentralization: achieving full user control over assets without relying on custodial intermediaries
· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication
Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.
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