According to Lookonchain, a trader experienced a significant loss of $101,000 in a rapid three-hour period due to a sell-off initiated by Dave Portnoy. The trader initially invested 911 SOL, valued at $153,000, to acquire $Greed tokens. Following the sell-off, the trader sold the tokens for 309 SOL, amounting to $52,000, resulting in a net loss of 602 SOL or $101,000. This event underscores the volatility and potential risks in trading less established cryptocurrencies, especially when influenced by high-profile individuals.

According to Lookonchain, a trader experienced a significant financial loss of $101,000 due to a sell-off linked to Dave Portnoy's actions. The trader initially invested 911 $SOL (equivalent to $153,000) into the cryptocurrency $Greed. However, following Portnoy's sell-off, the trader was forced to sell at a loss, receiving only 309 $SOL (approximately $52,000), resulting in a net loss of 602 $SOL or $101,000. This case highlights the volatile nature of cryptocurrency influenced by high-profile individuals and the risks associated with rapid trading decisions. Source: Lookonchain via Twitter.

According to Lookonchain, Dave Portnoy created the cryptocurrency $Greed and purchased 357.92 million $Greed tokens, which accounted for 35.79% of the total supply. He subsequently sold all of these tokens in a single transaction, leading to a 99% price crash of $Greed. This sale resulted in a profit of approximately $258,000 for Portnoy. The incident highlights the substantial impact large holders can have on cryptocurrency prices, stressing the importance of liquidity and market depth for traders.

According to Lookonchain, Dave Portnoy created the cryptocurrency $Greed and initially acquired 357.92 million tokens, representing 35.79% of its total supply. He proceeded to sell his entire holding in a single transaction, leading to a 99% price crash of the token. Portnoy profited approximately $258,000 from this transaction, as reported by Lookonchain.