- Hunter Biden’s LAPTOP memecoin plunged more than 90% from a peak fully diluted valuation above $200 billion, falling as low as $2 billion within hours of launch.
- Onchain data showed a highly concentrated token supply, with founders, airdrop wallets, the foundation and liquidity wallets accounting for nearly 90% of the supply.
- Trading outcomes varied sharply, with one trader reportedly making nearly $1 million while another lost almost $200,000.
Hunter Biden’s newly launched LAPTOP memecoin has crashed more than 90% from its peak valuation within hours of going live.
DexScreener data showed the token launched at a fully diluted valuation slightly above $100 billion before briefly surging past $200 billion.
The rally quickly reversed, with LAPTOP’s FDV falling as low as $2 billion.
The sharp decline comes amid concerns surrounding the distribution of the token’s supply and significant differences in profits and losses among early traders.
LAPTOP Supply Is Highly Concentrated
Onchain data from Bubblemaps showed that LAPTOP’s token supply was heavily concentrated even before trading began.
Hunter Biden and the project’s founders were allocated up to 30% of the total supply.
Combined holdings associated with founders, airdrop wallets, the foundation and liquidity wallets accounted for nearly 90% of LAPTOP’s supply.
Before launch, Biden positioned LAPTOP partly as a response to President Trump’s TRUMP memecoin and said up to 20% of the supply would be distributed to traders, including people who lost money trading TRUMP.
Both LAPTOP and TRUMP are now down more than 90% from their respective all-time highs, although TRUMP currently maintains a larger market capitalization.
One Trader Makes Nearly $1 Million
The extreme volatility created dramatically different outcomes for early LAPTOP traders.
According to Onchain Lens, one trader purchased 9,120 LAPTOP tokens for $249,000 before selling the entire position for approximately $1.2 million.
That generated a profit of nearly $1 million.
Another trader reportedly spent $200,000 purchasing 919 LAPTOP at approximately $218 per token.
Following the crash, those tokens were worth less than $2,000, leaving the trader with a loss approaching $200,000.
Wintermute Moves LAPTOP to Exchanges
Onchain Lens also reported significant LAPTOP activity involving market maker Wintermute as the token declined.
Wintermute reportedly received 2.5 million LAPTOP tokens and transferred approximately 2.09 million across its trading wallets.
The market maker sold 500,000 LAPTOP for approximately $2 million through 356 transactions, according to the onchain analytics platform.
Additional tokens were reportedly routed toward centralized exchange deposit addresses associated with Kraken, Gate and KuCoin.
The activity comes as LAPTOP continues trading far below the valuation reached during its initial launch surge.
