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Barstool Sports founder Dave Portnoy launched a meme coin called $GREED today from his official wallet. However, he sold his entire position an hour later, causing the token’s value to crash by more than 90%. A Social Experiment In a February 19 post on X, the founder criticized the meme coin space, stating: “The entire ecosystem is Greed and nothing else. Go dump on each other peasants but don’t complain to me if you lose money. You are all greedy. At least admit it.” He then launched $GREED presenting it as a social experiment and a reflection of the true nature of the sector. According to blockchain analytics firm Lookonchain, Portnoy issued the token and purchased 357.92 million units, representing 35.79% of the total supply. Its market capitalization quickly surged to $30 million. Despite initially claiming he would not sell anytime soon, the 47-year-old offloaded his entire position within an hour in a single transaction, causing $GREED’s value to plummet by 99% to below $3 million. Lookonchain reported that he profited approximately $258,000 from the meme coin. Shortly after, Portnoy launched another token, GREED2. He currently holds 268.25 million of them, making up 26.8% of the total supply. In a final twist, the media mogul returned to X, stating that he had only promised not to sell one coin, referring to the Solana meme token Stool Prisondente (JAILSTOOL). He emphasized that he was free to sell everything else and had warned people not to buy. Portnoy first revealed his purchase of 57.16 million JAILSTOOL tokens on February 9. Shortly after, he sold the entire stack, exchanging it for roughly 586 SOL. However, he quickly bought back even more, spending over 1,000 SOL to acquire just over 23 million coins. Following an initial spike and dip, JAILSTOOL’s market cap surged past $100 million as the entrepreneur fueled its viral appeal. The coin’s value more than doubled, reaching an all-time high of nearly $218 million. Currently, the meme cryptocurrency is trading around the $0.0158 level, a 19.1% drop in the last 24 hours. It has suffered a more marked loss over seven days, shaving a massive 77.3% off its value. Meme Token Controversy The social media personality’s move with GREED comes amid a raging scandal in the meme coin space, specifically surrounding the LIBRA token. The asset, promoted by Argentine President Javier Milei, saw its market cap quickly reach $4.4 billion before plummeting massively. Its collapse fueled reports of insider trading and market manipulation with some allegedly cashing out over $100 million. Pump.fun founder Alen Cohen criticized LIBRA’s launch, arguing that meme coin creation should be decentralized and free from developer or market maker control to ensure fairness. He warned that the situation exposed flaws in the crypto sector, highlighting how bad actors exploit investors. Meanwhile, Meteora co-founder Ben Chow has resigned amid allegations of financial misconduct linked to the situation. The post Barstool Founder Launches and Dumps GREED Meme Coin in Just 1 Hour appeared first on CryptoPotato.

Kava has introduced a major update to Kava AI, incorporating a decentralized version of the DeepSeek model to streamline blockchain transactions. The update aims to remove complexities in cross-chain finance, allowing users to execute crypto operations through simple prompts instead of navigating multiple apps and wallets, according to a note shared with crypto.news. Kava AI is designed to facilitate on-chain transactions by processing user requests in natural language. Instead of manually bridging assets or swapping tokens, users can issue commands like “Move my tokens to another chain” or “Swap for a stablecoin,” and Kava AI executes the transactions. The system operates on decentralized infrastructure, ensuring data security and user control over transaction processes. The AI-powered platform relies on a three-layer system: AI agents interpret user inputs, open-source language models process requests, and a decentralized computing network powers execution. Kava’s latest update comes as AI spending is projected to reach $1.3 trillion globally by 2032, while decentralized finance continues to grow. The company has also released a deAI Lightpaper outlining its approach to high-performance computing and decentralized model training.

Origin Protocol (OGN) is trading within a bullish ascending trend channel on the 4-hour time frame with the potential to break out to the higher side. The price is at a major support area with traders patiently waiting for a strong movement to occur. OGN is 0.80% higher within the last 24 hours, although 5.49% lower within the last week. A recent tweet on X from Alpha Crypto Signal pinpointed the price action of the token OGN, saying that the token is at a significant chop area inside of a bullish trend channel. The two potential setups are a break out of the resistance with a potential long opportunity or a breakdown of the support with a short setup. #OGN LTF Analysis: $OGN is trading within an ascending channel on the 4-hour timeframe and is currently around its chop zone. A confirmed breakout above this level will signal a long opportunity, while a breakdown below it will present a short setup. A straightforward strategy… pic.twitter.com/LlKVmw7h2v At the time of writing, the price was trading between $0.075 to $0.080, a well-set support area. Historically, this price level served strong support that resulted in a number of price rebounds.A bullish breakout above $0.080 – $0.085 would create a possibility for the price to reach $0.09 – $0.10. The price decline will extend to $0.070 – $0.065 levels when it drops under $0.074. The Relative Strength Index (RSI) is 42.15 with a slightly bearish to neutral sentiment. It is coming off oversold levels, so a relief bounce can’t be ruled out. If the RSI again approaches 50 levels, bullish strength can pick up speed. The MACD is showing a weak bullish cross with the MACD line slightly higher than the signal line. Histogram bars remain at a value of zero, meaning that the momentum is also not strong either way. Strong bullish strength will be established by a stronger cross with growing histogram bars. Traders are recommended to look out for a confirmation of the breakout at $0.080 – $0.085. Breakout above this price could aim at $0.10 – $0.12. Breakdown below $0.075 could initiate a fall to $0.065 – $0.060. With OGN at a key support area, price action within the next couple of days will indicate if it will go with a bullish continuation or bearish reversal. Both volume and momentum metrics will play a key role in validating the next significant movement. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Cryptocurrency is full of hidden gems, but there are a few with the potential to skyrocket in value. Sui, Stellar, and Pi Network are leading the charge in different ways, offering scalable blockchain solutions, simplified cross-border payments, and mobile-first ecosystems that make crypto more accessible. These projects are poised for massive growth, and with the right momentum, could see a shocking 75x return for investors. Current price: $3.30 Market cap:$10.22B SUI works toward building a scalable base-layer blockchain solution which intends to reach mainstream adoption. Transaction processing along with security benefits from Sui’s implementation of the object-centric data model which works together with the Move programming language. The Web3 adoption process becomes more accessible through zkLogin along with sponsored transactions which enhance user experience features. Sui works to improve its platform architecture as it expands the number of decentralized applications using its network. Current price: $0.3429 Market cap:$10.51B XLM through Stellar Development Foundation continues its efforts to provide efficient borderless money transfers at affordable costs. The Stellar Development Foundation operates the network which enables quick foreign currency exchange by converting assets to XLM and subsequently transferring the funds to target currencies. The peer-to-peer network allows developing regions to achieve financial access for their population. The platform becomes more useful due to its decentralized exchange which enables users to conduct efficient trading through the asset marketplace. Current price: $0.9973 Market cap:$6.84B Pi Network is growing as a mobile-first cryptocurrency ecosystem supporting decentralized applications and real-world transactions. It enables users to mine Pi tokens through a mobile-friendly interface while integrating applications within its blockchain framework. The network follows a declining token issuance model, reducing mining rates over time based on adoption. By place accessibility and real world utility, Pi Network aims to create an inclusive financial system that allows seamless cryptocurrency transactions. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

dont be panic pioneers its just 16 hrs the network is opened this is the starting not the peak it will take some time to reach the goals so be relax and chill