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Large institutional giant whale sold a large amount of altcoins-its market value plummeted 99% today

2026-09-10 06:16:13

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LAPTOP tokens related to Hunter Biden: The market value has dropped by more than 99%, and market maker Wintermute has begun to sell.

LAPTOP is a memecoin launched in association with Hunter Biden. Since its launch, it has become the focus of the cryptocurrency market due to sharp price drops and large-scale selling on the chain. Chain data shows that market maker Wintermute has begun selling some of the tokens transferred from the LAPTOP team to its account, and the fully diluted valuation (FDV) of the token has dropped by more than 99% from its peak.

Wintermute, which received LAPTOP tokens, began to sell off

According to data shared by the online data analysis platform Lookonchain, Wintermute received a total of 2.5 million LAPTOP tokens from the LAPTOP team. According to reports, the company has started selling these tokens on the chain and has sold 466,255 LAPTOP tokens so far, with an average selling price of $4.47. The total value of these sales is estimated to be approximately $2.08 million.

The LAPTOP price fell precipitously within hours of the launch of the token. Data showed that in the first two hours after its launch, LAPTOP's fully diluted valuation (FDV) plummeted from a brief peak of above $300 billion to approximately $1.8 billion. This means that its fully diluted valuation fell by approximately 99.43%, with trading volume recorded at approximately $9.6 million over the same period.

Short-term profits of airdrop participants exceed US$640,000

On the other hand, two new wallets that received tokens from LAPPOINT airdrops reportedly generated more than $647,000 in revenue in a short period of time. According to online analysts, the two addresses sold their tokens after receiving a total of 4,276 LAPTOP tokens from Hunter Biden's airdrop contracts for Substack subscribers. One wallet reported a profit of about $404,000, and the other made a profit of about $243,000.

On-chain data also reveals the ETH transfer behavior between the two addresses. One of the addresses transferred USDC obtained from laptop sales to an address tagged in public sources as belonging to Safe architect Florent, sparking speculation that the two wallets may be connected to Florent. However, this connection has not yet been finally confirmed.

This chart shows the decline in LAPTOP prices today.

Serenity commented on the collapse of LAPTOP's value by more than 99% since its launch and said it was not surprised. Serenity believes that such token offerings do not bring positive overall results to individual investors and therefore does not support similar token offerings.

* This document does not constitute investment advice.

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