CASHCAT buyer of 0.85% supply faces $412,000 paper loss

A trader identified as 0x4B1 bought roughly 0.85% of CASHCAT's total token supply for about $1.29 million as the token listed on Robinhood, with an average entry that implied a market capitalization (total value based on supply and price) of about $150 million. CASHCAT then fell about 30% after the listing, leaving the position with an unrealized loss of about $412,000, Arkham said on Aug. 19. On-chain data (public blockchain transaction records) show the trader has not sold any of the tokens so far.

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