Arkham-tracked wallet 0x4B1 is sitting on a sizable unrealized loss after buying CASHCAT around the time the token landed on Robinhood. According to BlockBeats, the trader spent about $1.29 million to acquire tokens equal to roughly 0.85% of the total supply. The average entry implied a market capitalization of about $150 million at the time of purchase. After CASHCAT went live on Robinhood, the token fell about 30%, leaving the position with an unrealized loss of around $412,000. On-chain data shows the wallet has not sold any of its holdings so far. The trade has drawn attention because of both its size and the decision to keep the position open despite the decline.
According to BlockBeats, citing Arkham monitoring on Aug. 19, trader wallet 0x4B1 bought CASHCAT worth about $1.29 million when the token landed on Robinhood.
The purchase amounted to roughly 0.85% of the token's total supply. Based on the trader's average entry, the implied market capitalization was about $150 million at the time of the buy.
After CASHCAT went live on Robinhood, the token's price fell about 30%, leaving the trader with an unrealized loss of around $412,000.
On-chain data shows the wallet has not sold any of the tokens so far.
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