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FollowingLAPTOP tokens plummet 98%: Robot trading and liquidity crisis triggered huge losses
The Hunter Biden inspired LAPTOP meme coin experienced a sharp collapse shortly after its launch, with its opening price plunging as much as 98%. The sharp decline was attributed to insufficient liquidity and the impact of automated trading robots, which resulted in significant losses for multiple traders.
Liquidity Crisis and Robot Intervention
The project team pointed out that "sniper bots" and insufficient initial liquidity pools were the main reasons for the rapid surge in prices and then a sharp plunge. LAPTOP was launched in "strong demand" with an offering price of $0.05, but the liquidity available was too limited to accommodate the large trading volume from automated traders.
Such sniper robots, programmed to buy new tokens within seconds of going online, take advantage of the situation. These robots quickly pushed up prices and then operated in reverse, causing huge market fluctuations and serious losses for some participants. According to data from blockchain analytics platform Nansen, most early buyers did not sell their tokens, and there was a significant imbalance between purchases and sales in the first 24 hours.
In response to allegations that insiders were making profits, the team denied it, stating that everyone received equal information at the launch, and emphasized that measures needed to be taken in the future to improve liquidity.
Size of loss and market impact
On-chain data provided by blockchain analytics company Nansen highlights the scale of financial losses. One of the wallets made a profit of approximately $171,000 while holding unrealized losses worth $27,900, bringing the total loss to nearly $199,000. Another investor who purchased approximately 28,400 LAPTOP tokens lost approximately $118,000. However, not all addresses were facing losses, and one wallet still held a profit of $13,000 at the time of the analysis.
Despite the crash, Nansen estimates LAPTOP's market value at $720 million and a fully diluted valuation (FDV) of $2.1 billion. However, in markets with light trading, prices are extremely sensitive to small orders, which may exaggerate the numbers.
Mini Dictionary: Fully diluted valuation (FDV)
reflects the virtual market value of a cryptocurrency assuming all possible tokens are in circulation, taking into account reserved or locked shares and current supply.
Measures to improve liquidity and responses to issues
To address liquidity concerns, the development team plans to inject an additional 4 million LAPTOP tokens into the Aerodrome pool starting September 10, accounting for 0.4% of the total supply. The move aims to encourage trading and reduce price fluctuations caused by low liquidity.
According to the project party's instructions, the 30% tokens allocated by the founding team will be locked for six months and will be gradually released within two years to ensure long-term interests are consistent. Another 30% of the tokens are tied to prediction mechanisms and, based on future results, will be destroyed or donated to charity.
The team reiterated that all participants received information at the same time and stated: "Everyone received the same information at the same time," emphasizing that no advance access was provided to insiders.
LAPTOP's name comes from a laptop reportedly left by Hunter Biden at a Delaware repair shop in 2019-a focus of political discussions surrounding the son of U.S. President Joe Biden. Hunter Biden confirmed the project on Platform X earlier this week, sharing the token code and various media reports related to it.
Community Reaction and Future Development
The launch of LAPTOP has met with suspicion and in some cases even sparked direct hostility among crypto traders, with many warning Hunter Biden to cancel the project before it was launched. The controversy seems to have exacerbated market volatility and uncertainty from the beginning.
As discussions continue about robot trading and fairness in the launch of new crypto projects, investors and critics will be closely watching the project team's next steps, including measures such as improving liquidity.
