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Launched in early July, Robinhood Chain attracted attention, particularly in its first month, due to the meme coin activity it generated.
While high transaction volume continued on the network in August, it was noted that approximately 75% of the total volume of the FOMO platform, which stands out with memecoin transactions, originated from Robinhood Chain on August 31st.
However, the data doesn’t reflect reality. A noteworthy analysis regarding the FOMO platform has been published. According to data shared by Unfolded, the vast majority of the 375,740 users who traded on the platform did not achieve significant gains.
The Vast Majority of Users Either Lost Money or Earned Less Than $100!
According to Unfolded’s analysis, 95.2% of users on the FOMO platform either lost money or made less than $100 in profit. This rate reveals that a very large portion of users trading on the platform did not achieve any significant gains.
In contrast, it was noteworthy that the percentage of users generating high earnings in the data was extremely low.
Accordingly, only 229 users, or approximately 0.06% of all users, earned more than $10,000 in profit.
In addition, 653 users (0.17%) earned more than $5,000, and 3,504 users (0.9%) earned more than $1,000.
The resulting chart and data reveal that in the highly volatile meme coin market, only a very limited number of investors manage to achieve significant profits. The fact that only a small number of users are able to profit highlights once again the high risk and uncertainty inherent in memecoin trading.
*This is not investment advice.
Source: cryptonews.net