Only 25 of 292,531 FOMO Wallets Made More Than $10K, Dune Query Shows

Key Points

A public Dune query shared by MCM found that only 18,033 of 292,531 FOMO wallets were profitable over the past 90 days.
That means just 6.16% of active FOMO traders were in profit, while the median trader was down about $120.
Only 25 wallets made more than $10,000, despite the group collectively losing about $1.26 billion.

Only 25 out of 292,531 wallets that traded through FOMO over the past 90 days made more than $10,000, according to a public Dune query shared by on-chain researcher MCM.

The data offers a stark look at profitability on one of crypto’s most active social trading apps. Out of all wallets included in the analysis, 18,033 were in profit, meaning only 6.16% of traders finished the period in the green.

The median trader was down around $120, while the full group was down a combined $1.26 billion.

Most Traders Lost Money

The query, titled “FOMO App – Percent of Traders in Profit,” uses FOMO’s fee router to calculate profitability for active traders over a 90-day window. Dune lists the public query under that name, giving users a way to inspect the methodology directly.

The distribution was heavily skewed. Of the small group of profitable wallets, MCM said 88% made less than $100. That suggests most users who did manage to profit did so only marginally, while larger gains were concentrated among a tiny number of wallets.

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FOMO’s Growth Meets User Profitability Question

FOMO is a social trading app that offers self-custodial, gasless token swaps on mobile, along with social feeds and copy-trading features, according to DefiLlama.

The app has also become a meaningful fee generator. DefiLlama data shows FOMO generated $10.4 million in fees and $9.71 million in revenue over the past 30 days, while processing $772.04 million in DEX volume during the same period.

That contrast is what makes the Dune data important. FOMO appears to be generating significant platform activity, but the latest wallet-level analysis suggests very few traders are capturing durable profits from that activity.

Copy-Trading Faces a Harder Test

The findings raise broader questions for crypto social trading platforms. Products built around speed, virality and copy-trading can attract large numbers of users, but profitability may remain concentrated among a small group of early, skilled or highly active traders.

For retail users, the figures point to a harsher reality. The platform may make trading easier and more social, but easier access does not necessarily translate into better outcomes.