CASHCAT Drops ~30% on Robinhood After Listing; Trader 0x4B1 Down $412K

A 30% drawdown immediately after a Robinhood listing is a reminder that exchange visibility can cut both ways: it draws in buyers, but it also concentrates exit liquidity in the same crowd. The trader 0x4B1 sitting on a $412,000 unrealized loss without selling is the detail worth watching — whether that position is held through conviction or simply illiquidity shapes what happens to the token's price if it does move. For RWA-adjacent listings on retail platforms, the open question is whether post-debut declines of this scale become the norm rather than the exception.