From the Vatican to Heaven: LUCE accompanies the Pope's ascension, market capitalization soars to 28.19 million

Written by: Oliver, Mars Finance

In the early morning of April 21, 2025, the Vatican officially announced that Pope Francis, the 266th Pope of the Roman Catholic Church, died at 7:35 at the age of 88. Cardinal Kevin Farrell lamented on Vatican television: "Dear brothers and sisters, it is with deep sorrow that I declare the return of our Pope Francis to the kingdom of the Lord. He spent his life serving the Lord and the Church. The news shook the world's 1.4 billion Catholics and also made waves in the cryptocurrency market. Affected by this, the meme coin LUCE on the Solana chain soared from $9.08 million to $28.19 million in market value within 45 minutes, an increase of 210.46%, becoming the focus of heated discussions in the cryptocurrency circle.

However, after the initial excitement faded, LUCE's market value dropped to around $17 million. This frenzy is reminiscent of the logic behind the surge in the value of items in the game "CS2" due to their scarcity after being taken down. The global event of the Pope's passing ignited emotional speculation around LUCE. As the Vatican enters a "Conclave" to elect a new Pope, will the crypto space see the next wave of "Pope coins"? Let's embark on this fantastic journey from the temple to the blockchain.

What happened? The amazing surge of LUCE

Pope Francis, born Jorge Mario Bergoglio in 1936 in Buenos Aires, Argentina, is the first pope from South America and is known for his humility and reformative spirit. His passing quickly spread across the globe, with comments on platform X stating that LUCE experienced a "short-term surge, with a 24-hour increase of over 168%", even briefly surpassing $0.0255. The actual data is even more astonishing: according to market records, LUCE's market cap skyrocketed from $9.08 million to $28.19 million in just 45 minutes, an increase of 210.46%, making it the focus of the cryptocurrency market that day. However, due to a lack of sustained buying pressure, the market cap has retreated from its peak and is currently stable at around $17 million.

It is worth noting that three days ago, the price of LUCE plummeted by 80% due to suspected abandonment by market makers or market makers, which caught many investors off guard. The news of the Pope's death made LUCE quickly "resurrected", and players in the currency circle lamented that "the world is impermanent". This rise and fall is just like the logic of rare accessories in "CS2" that are in short supply and soaring in price due to the official removal from the shelves. The Pope's death as a global event has given LUCE a unique narrative value, and investors see it as the "face of Catholic hotspots", despite CoinGecko's clear warning that LUCE has no connection to the Vatican or the official mascot Luce.

The Origin of LUCE: From a Two-Dimensional Mascot to a Cryptocurrency Symbol

The LUCE craze is inseparable from its cultural roots. On October 28, 2024, the Vatican launched the two-dimensional mascot Luce (meaning "light") for the 2025 "Holy Year," designed by Tokidoki founder Simone Legno. Archbishop Rino Fisichella stated that Luce aims to bridge the gap between the Church and young people through popular culture. Her image is full of details: the yellow raincoat symbolizes the Vatican flag, the muddy rain boots represent the hardships of pilgrimage, the shell staff signifies "insight and hope," and the pet dog Santino symbolizes loyalty. Luce also made an appearance at the Lucca Comics and Games in Italy and plans to participate in the 2025 Osaka World Expo, triggering a wave of fan creations.

The next day, the meme coin LUCE, named after Solana, was launched on the Pump.fun platform, quickly gaining popularity due to the vast base of 1.4 billion Catholic believers. LUCE's market value once soared to $362 million, making it the first meme coin deeply tied to a religious theme. However, its high volatility caused its price to fluctuate like a roller coaster, plummeting to a low point after its listing. The 210.46% surge triggered by the pope's death once again demonstrated the sensitivity of meme coins to trending topics.

The logic of speculation: analogous to the scarcity of CS2 items.

The surge of LUCE shares a similar logic with the price increase of items in the CS2 market. In CS2, a certain item became scarce due to being delisted by the official authorities, leading to an imbalance in supply and demand that drove up prices, resulting in players competing to acquire it. The rise of LUCE, on the other hand, is driven by the emotional resonance brought about by the death of the Pope, a "limited-time event." Someone on platform X commented that LUCE is "the best medium to commemorate the Pope, being both respectful and able to carry global emotions." Although LUCE lacks fundamental support, its connection to Catholic culture has led investors to bet on its short-term scarcity. However, the rapid decline after the surge also exposes the speculative nature of meme coins, similar to the price correction after the CS2 item craze subsided.

Secret Meeting: How the New Pope is Born

The death of Pope Francis marks the beginning of the "sede vacante" period in the Vatican. In the next 15 to 20 days, about 120 cardinals under the age of 80 will gather in the Sistine Chapel to hold a "secret conclave" to elect a new pope. This process, which has a history of 800 years, is known for its mystique and ceremonial significance.

Election process

Mourning and Preparation: After the Pope's death, the College of Cardinals enters a nine-day mourning period, holds a funeral, and destroys the Pope's Fisherman's Ring. Cardinal Camerlengo (usually Kevin Farrell) manages the transitional affairs.

Meeting starts: The Cardinal checks into the Casa Santa Marta, and the voting takes place in the Sistine Chapel. Before the meeting begins, "extra omnes" (everyone leave) is called out, the chapel is sealed, and outside contact is prohibited.

Voting mechanism: A maximum of four rounds of voting each day, requiring a two-thirds majority (approximately 80 votes) to elect a new pope. After the ballots are burned, black smoke indicates indecision, while white smoke announces the birth of a new pope. If no result is achieved after 33 rounds, a runoff will be held between the top two candidates.

Results announced: The new pope accepts the election and selects the papal name, announced by the senior cardinal of the College of Cardinals from the balcony of St. Peter's Basilica with "Habemus Papam" (We have a pope).

Highlights of the 2025 Election

Currently, about 138 cardinals are eligible to vote, of which 110 were appointed by Pope Francis, leaning towards the global south regions such as Asia, Africa, and Latin America. Potential candidates include:

Peter Turkson (Ghana): Conservative, focused on peace and social justice.

Luis Tagle (Philippines): A progressive who inherits the humble style of Francis.

Péter Erdő (Hungary): Traditionalist, expert in canon law.

Pietro Parolin (Italy): A pragmatist, Vatican Secretary of State, who has facilitated multiple diplomatic agreements.

The choice of the new pope will determine the future direction of the Catholic Church, whether to continue the progressive reforms of Francis or to return to conservative traditions, which is highly anticipated.

The next wave of craze? The possibilities of the new Pope coin.

The surge of LUCE sparks imagination: Will there be a "Pope Coin" craze in the crypto world after the new Pope is elected? Tokens like FRANCIS (named after Francis, with a maximum market cap of $5 million, currently around $600,000) or POPE (maximum market cap over $1 million, eventually went to zero) were briefly active on April 21. Tokens from candidates like Parolin and Tagle also had a moment in the spotlight. The results of secret meetings could give rise to new meme coins, speculating around the names or symbols of the new Pope. However, the high risks of meme coins are evident, and LUCE's rise and fall remind investors that emotion-driven frenzies are often short-lived.

The passing of Pope Francis is not only a turning point for the Catholic Church but also unexpectedly ignited the legend of LUCE meme coin. From the Vatican's 2D mascot to speculative symbols on the Solana chain, LUCE has showcased a remarkable increase of 210.46%, embodying the wonderful collision of faith and finance. As the bells of a secret meeting toll, 120 cardinals will choose a new leader for 1.4 billion Catholics in the Sistine Chapel. Cryptocurrency players may already be poised, anticipating the next "Pope coin" carnival. In this digital age, even the oldest religious rituals can create waves on the blockchain. May Francis rest in peace, and may the light of Luce continue to illuminate the intersection of faith and trends.