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Magyar29 Oct 2026
A Bitquery study of 829,539 Solana wallets that bought coins through the FOMO social trading app found 15% were in profit before app fees and 10% after. Fees pushed 32% of pre-fee winners below break-even, but token trades caused most of the losses.
Altcoins TradeReviewed News Desk
Only about one in ten Solana wallets that traded through the social trading app FOMO were in profit after fees this year, according to a study by blockchain data provider Bitquery reported by CryptoSlate.
829,539 wallets, nine months of trading
The study followed 829,539 wallets that bought coins through FOMO on Solana between January 13 and October 7, 2026. Before recorded FOMO fees, 15% were in profit; after fees, 10% were. Bitquery reports that fees pushed 32% of the wallets that were ahead before fees below break-even. That 32% refers to the pre-fee winners, not to everyone in the study.
Fees were not the main problem. They explained about 10% of aggregate losses; most of the shortfall came from the token trades themselves. Bitquery put recorded app fees at about $40 million and the baseline loss at about $395 million, although that figure ranged from $204 million to $490 million depending on how unsold tokens were valued. Under the alternative assumptions, the share of profitable wallets stayed between 9% and 12%.
Why minimum fees hurt small trades
FOMO’s published schedule has different Solana routes. On the lowest-fee route, a 10 USDC trade costs 0.2 USDC (2%); on other routes, a 0.95 USDC minimum makes the same trade cost 9.5%. FOMO charges on both buys and sells, so the round-trip cost is higher. The app says it covers Solana gas and priority fees, while pool charges and slippage remain separate.
The study measures wallets rather than people, covers only Solana and has data gaps, so the results describe this cohort only.
What it means for traders
For small memecoin trades, fixed minimum fees can eat a large share of any gain, and most wallets in the study lost money even before fees. Check the full cost of entering and exiting a position, not just the headline rate, and size trades so fees stay a small fraction. To see how trading fees differ between platforms, use our crypto exchange comparison and our reviews of BingX (number 1) and OKX (number 2), or read how we test exchanges.
This article is for information only and is not investment advice.
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