[Lookonchain: 21 out of the 25 most losing Papertrade traders remain at a loss even after USDC rewards] According to Lookonchain statistics, among the 25 traders with the largest Papertrade losses, 21 remain at a loss even after accounting for USDC rewards, with only 4 achieving profitability. These 25 traders collectively generated $111.5 billion in trading volume, earning 2.06 billion PAPER tokens, which accounts for 23.4% of the total token supply. Meanwhile, they have claimed $11.61 million in USDC rewards, representing 20.6% of all USDC rewards.