maybe he wants to sell immediately because he is too worried, actually I agree with what you said buying more will be more profitable because usually when the first listing will have a fairly low price, then hold and wait until it is listed on a larger exchange
it's also true because many people attention to this project and also this project is a trend which is probably quite a good many people are looking for the cheapest price at the moment and then when they enter the market they will sell it and get a large enough profit.