Key Takeaways
According to CryptoSlate, Hunter Biden's LAPTOP token left nearly 80% of traders underwater despite being pitched as a counter to memecoin grift.
According to CryptoSlate, Hunter Biden launched the LAPTOP token on Base to counter memecoin grift, but it quickly left nearly 80% of its traders underwater. Data from Bubblemaps indicated that 12,151 out of 15,206 traders lost money, while 88 traders collectively captured about $5.57 million in profit. The token traded on Base and peaked roughly two minutes after launch, according to Arkham Intelligence. Thin liquidity caused a theoretical fully diluted valuation of about $144 billion before plunging over 95% within half an hour.
Biden previously criticized Donald Trump’s TRUMP memecoin for generating massive collective losses, promising that LAPTOP would include airdrops for burned investors. However, the launch produced sharply divided outcomes. Analytics firm Lookonchain highlighted traders who secured significant profits from early buys, contrasted with later participants who faced substantial unrealized losses. Bubblemaps noted that roughly 60% of LAPTOP's largest holders were fresh wallets funded within the previous 10 days. The project features a fixed supply of 1 billion tokens, with 30% allocated to founders and locked for six months.
Source & Fact-Check Note
This report is synthesized from coverage by CryptoSlate. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at CryptoSlate ↗
