Tiny Red HandsBack

Nansen estimates losses among likely retail $WLFI wallets

Date
2026-08-03
Entry type
crypto-market-outcomes
Current status
25,000 likely retail Ethereum DEX wallets estimated underwater as of August 3, 2026
Last reviewed
2026-09-03

Nansen estimated 25,000 of 31,000 likely retail Ethereum DEX wallets were underwater, with $54 million in gross losses.

Entities and roles

Relationships in this file

  1. Donald J. TrumpWLF executive linked to measured token-holder outcomesChase Herro

Money trail

  1. lossGross losses among losing likely retail $WLFI wallets$54 million
    Loss or cost borne by
    25,000 likely retail Ethereum DEX losing wallets
    estimated · 2026-08-03 · observedPopulation The 25,000 likely retail Ethereum DEX wallets Nansen classified as underwater on $WLFI as of August 3, 2026Period 2025-09-01 to 2026-08-03Basis Use Nansen's $54 million gross-loss estimate for the 25,000 losing-wallet subset; the $24 million in gains and $30 million net result cover different totals across all 31,000 likely retail wallets.Limits Mostly mark-to-market and limited to Ethereum DEX activity; the source excludes centralized exchanges and private sales and does not publish the full cost-basis model or transfer allocation.Open cited evidence
  2. lossLikely retail $WLFI wallets underwater25,000 of 31,000 wallets
    Loss or cost borne by
    25,000 likely retail Ethereum DEX wallets
    estimated · 2026-08-03 · observedPopulation Likely retail wallets that bought $WLFI on Ethereum decentralized exchanges in Nansen's Public Citizen analysisPeriod 2025-09-01 to 2026-08-03Basis Use Nansen's reported likely-retail filter: 25,000 underwater wallets among 31,000 that bought $WLFI on Ethereum decentralized exchanges as of August 3, 2026; wallets remain the unit of analysis.Limits Excludes centralized exchanges, other chains, and private-sale investors; Public Citizen did not publish Nansen's complete clustering and cost-basis code, and one owner may control multiple wallets.Open cited evidence

Claims and evidence

  1. estimateestimate

    Public Citizen reported that Nansen filtered for likely retail wallets and found 25,000 of 31,000 wallets that bought $WLFI on Ethereum decentralized exchanges were underwater as of August 3, 2026, with those losing wallets down $54 million. Winners in that same retail population were up $24 million, producing a separate $30 million net result. The study excluded centralized exchanges and private-sale investors; wallets are not people, and the $54 million gross loss is not Herro's income.