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Investor lost $ 185,000 on DeFi tokens in three weeks

Twitter user rgrpark described how he lost his entire portfolio of $ 185,000 DeFi tokens within three weeks.

According to him, on April 11, at the height of the altseason, he held funds in several DeFi projects “with the prospect of further growth”, including Radix (EXRD), Everest (ID), AllianceBlock (ALBT) and Graphlinq Protocol (GLQ) …

“Things were going well, but I wanted to get things done faster, I was impatient,” wrote rgrpark.

On April 20, during the period of the decline in the price of bitcoin, the user became interested in trading on the Uniswap platform, “selling at the bottom and buying at the top”. This resulted in the loss of more than 50% of the deposit.

In parallel, the investor continued to buy volatile coins in the hope of rebuilding the portfolio.

On April 29, he purchased a Micro Launchpad Token (MICRO) for his remaining $ 32,000. The sudden pumping of liquidity allowed him to increase his deposit to $ 104,000 at the end of the day. However, the sudden drop in the coin left him with 8 ETH in his account.

A few days later, the user invested in a high-volatility Truebit Protocol (TRU) coin, which soon collapsed.

“The reason for the pumping was some whale that bought 650,000 TRU at 25 cents and took profit at x165. I will find him and make him find a job for me, because now I cannot feed my family, ”rgrpark concluded.

Recall that in November 2020, Ripple CTO David Schwartz spoke about unsuccessful investments in little-known altcoins. His losses exceeded $ 300,000.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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