Crypto
Home›Crypto›Market Structure›LAPTOP token trading leaves most buyers underwater wit…
LAPTOP token trading leaves most buyers underwater within hours
Bubblemaps data showed 12,151 of 15,206 LAPTOP traders lost money, while aggregate P&L stayed only slightly positive around $178,000 due to a small group of large winners.
Hunter Biden’s LAPTOP token, launched on the Base network and pitched as an alternative to memecoin “grifts,” left nearly 80% of traders underwater within hours, according to CryptoSlate. Data cited from Bubblemaps showed that 12,151 of the token’s 15,206 traders lost money, while 3,026 were profitable and 29 were at break-even.
Most losses were relatively small, with 11,311 wallets down less than $1,000. Still, the distribution was sharply skewed, as just 10 wallets made between $100,000 and $1 million, and another 78 earned between $10,000 and $100,000.
CryptoSlate also reported that LAPTOP trading began on Base at about 8:02 a.m. ET and peaked roughly two minutes later, citing Arkham Intelligence. Despite a brief flash of a fully diluted valuation near $144 billion, the liquidity pool was described as small, around $48,000, meaning thin liquidity could make quoted prices swing dramatically.
CryptoSlate said LAPTOP fell more than 95% over the next half hour as the market struggled to set a stable price. Arkham identified two principal on-chain pools, with about $83,000 in USDC in an Aerodrome pool and roughly $380,000 in a Uniswap pool, and said the liquidity on the latter appeared to come into action only after the token had already dropped sharply.