January 11, 2025
at
12:00 am
EST
MIN READ
One of the recipients from the presale of the AICC token, named “insiderJudas”, has started dumping his allocation of tokens worth $150K, immediately after receiving them. His initial investment was just 0.5 SOL, or just $93.50, placing his current holdings at a return of just over 1,603x (160,300%).
The AICC token is the DAO token of AI-focused investment and development DAO, Aiccelerate, which distributed their tokens earlier today. However, the tokens were distributed to an extremely small selected group of 250 presale investors, which was made up of AI builders, researchers and Crypto Twitter Key Opinion Leaders (KOLs), all of which were distributed with no vesting. As the token valuation shot up to $300M without hours of launching, naturally, some of these token holders began dumping their allocations, which had already risen more than 2,000x by then.
The heavy concentration of holders sparked outrage among the community, while several of the recipients with a public image on Crypto Twitter were left with their hands tied. Dump the tokens and be labelled a crook by the community, or simply watch other participants sell first?