A cryptocurrency trader has made a massive loss after buying 24.25 million tokens of the new AI-related meme coin Large Language Model ($LLM) for 9.17 SOL (around $1,800) and then quickly selling them for a loss.
On-chain analysis account Onchain Lens shared the trade on the microblogging platform X (formerly known as Twitter). The address bought the new artificial intelligence-related token on token launch platform Pump.fun shortly after its launch.
However, the trader sold their funds for a loss, with Onchain Lens detailing that the trade sold their LLM tokens for 8.27 SOL (around $1,630).
The trade would have seen them turn their 9.17 SOL investment into over $3 million, as the value of LLM has since skyrocketed.
The newly launched token is a play on the ai16z token, a popular AI-related fund that functions as an “AI investment DAO” (decentralized autonomous organizations), whose primary goal is to leverage AI agents for market analysis and token trading.
The AI behind the fund – dubbed Marc ‘Ai’nderssen, a spoof of Andreessen Horowitz founder Marc Andreessen – will be influenced by ai16z.
LLM is parody of the concept with no real utility, but rather a meme that is driven by a strong community.
The image is used for illustrative purposes only and does not accurately depict the subject of the article. It is credited to Pexels.
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