Crypto
LAPTOP Memecoin Loses 99% Value in First Two Hours
LAPTOP, a memecoin launched in connection with Hunter Biden, made headlines in the cryptocurrency market with its sharp value drop and on-chain sell-off immediately following its launch.
Data shows that market maker Wintermute acquired a total of 2.5 million LAPTOP tokens from the LAPTOP team and has begun selling these tokens on-chain, with sales totaling approximately $2.08 million.
The fully diluted valuation of LAPTOP fell by over 99% within the first two hours after launch, dropping from a brief peak of over $300 billion to approximately $1.8 billion.