[Among the Top 25 Biggest Losers on Papertrade, 21 Remain at a Loss Even After Receiving USDC Rewards, Only 4 Are Overall Profitable] According to Deep Tide TechFlow, on October 20, on-chain analytics platform Lookonchain (@lookonchain) reported that most traders on Papertrade are in a loss-making state. Among the top 25 biggest losers, 21 addresses remain unprofitable even after factoring in USDC rewards, with only 4 addresses achieving overall profitability. These 25 addresses collectively generated $111.5 billion in trading volume, received 2.06 billion PAPER tokens (accounting for 23.4% of the total supply), and claimed $11.61 million in USDC rewards (accounting for 20.6% of the total rewards).