Crypto Influencer Ansem Loses $30,000 on IBRL Investment

Crypto influencer Ansem recently made a significant investment in the token IBRL, resulting in substantial financial losses. Over the past two days, Ansem spent a total of $377,000 to acquire IBRL by swapping LAUNCHCOIN, GOONC, and SOL. The average price per IBRL during this period was $0.04714.

In a subsequent move, Ansem sold 600,000 IBRL to swap back for GOONC, incurring a loss of $7,655. Despite this setback, Ansem still holds 7.6 million IBRL, which is currently valued at an unrealized loss of $24,000. This brings the total loss from Ansem's IBRL investments to over $30,000.

IBRL is the test token of Gavel, a new token issuance platform built on the Solana blockchain. On May 21st, Gavel successfully raised 30,747 SOL, equivalent to approximately $5.72 million. The platform's post-TGE valuation initially peaked at $67 million due to investments from prominent entities such as Ellipsis Labs, Toly, and Paradigm. However, the valuation has since declined to $48 million.

This incident highlights the volatility and risks associated with investing in cryptocurrencies and new token issuance platforms. Despite the backing of well-known investors, the value of IBRL has fluctuated significantly, leading to substantial losses for Ansem. The situation underscores the importance of thorough research and cautious investment strategies in the cryptocurrency market.