Odaily Planet Daily reports that Lookonchain posted on X that most traders on the Papertrade platform are losing money. Among the top 25 traders with the highest losses, 21 still incurred losses even after accounting for USDC rewards, while only 4 were overall profitable. These traders collectively generated a trading volume of $111.5 billion, received 2.06 billion PAPER tokens—accounting for 23.4% of the total supply—and claimed $11.61 million in USDC rewards, representing 20.6% of the total reward pool.
Top 25 Losers on Paper Trade Account for $111.5B in Trading Volume
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Summary
Top altcoins experienced significant losses on Papertrade, with the top 25 losing traders generating $111.5 billion in trading volume. Of these, 21 remained unprofitable even after accounting for USDC rewards, while only 4 turned a profit. They earned 2.06 billion PAPER tokens (23.4% of the total supply) and $11.61 million in USDC (20.6% of total rewards). Trading volume in top altcoins remains a key metric for gauging market sentiment.
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