TheBlock
LAPTOP surged from $0.05 to around $320 in under two minutes, then traded roughly 98% below that peak by the end of its first hour. A forensic report from Groom Lake points to limited token inventory, heavy early trading and changing liquidity as factors in the launch-day volatility.
Why it matters
Hunter Biden, whose team launched the memecoin, called on an unnamed market maker to buy back and burn tokens. “The biggest winners? The market makers,” he wrote on X, while also saying he takes responsibility for the launch failure.
Groom Lake said a wallet likely controlled by “Market Maker 1” received $500,000 before launch but used around 1% of it in opening liquidity positions. Across all providers, the main pool held fewer than 30,000 LAPTOP tokens, about 0.003% of the original 1 billion supply. The report said a $6 buy could push the quoted price up 5% in those conditions.
Market impact
Trades linked to a second market maker brought in about $2.18 million in net USDC receipts. The first wallet gained roughly $686,000 from liquidity positions, though the report said some of that was owed to its lender. Neither firm was named.
The launch’s extreme price swings and thin opening pool highlight how limited liquidity can magnify early trades in a newly launched memecoin. Biden’s founder wallet, held by him and his team, still retained all 300 million tokens at the time of publication.
Frequently asked questions
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How sharply did LAPTOP move during its first hour?
LAPTOP rose from $0.05 to around $320 in under two minutes, then ended its first hour roughly 98% below that peak.
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How much LAPTOP was in the main pool at launch?
The Groom Lake report said the main pool held fewer than 30,000 LAPTOP tokens, about 0.003% of the original 1 billion supply.
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What did the report say about the first market maker's liquidity?
A wallet likely controlled by “Market Maker 1” received $500,000 before launch but used around 1% of it in opening liquidity positions.
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What did Hunter Biden ask the market maker to do?
Biden called on the unnamed market maker to buy back and burn LAPTOP tokens. He also said he takes responsibility for the launch failure.
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How much did the market-maker-linked trades receive in USDC?
Trades linked to a second market maker brought in about $2.18 million in net USDC receipts. The first wallet gained roughly $686,000 from liquidity positions, with some owed to its lender.
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