CASHCAT Plunges 30% After Landing on Robinhood: Trader Sees $412,000 Paper Loss Without Selling

BlockBeats News, August 19th, according to Arkham monitoring, trader 0x4B1 bought approximately $1.29 million worth of tokens on CASHCAT when onboarded to Robinhood, accounting for around 0.85% of the total supply. The average market capitalization at the time of purchase was approximately $150 million.

After CASHCAT was listed on Robinhood, the price dropped by about 30%. The trader is currently holding an unrealized loss of approximately $412,000. However, on-chain data shows that they have not sold any tokens to date.