Moonshot has 400K new users (insanely impressive!) != 400k new users onchain

A lot of people took yesterday's @chainalysis report to suggest that the TRUMP token was a mass onboarding event, primarily because 50% of TRUMP/MELANIA token holder wallets were net new to SOL altcoins, but that continues to make the same wallet/user fallacies and misses the… https://t.co/vbghaMW8Qa

Disappointing data here.

Seems like less than 1% of the users who came in through Moonshot to buy TRUMP/MELANIA are doing anything else on-chain. 

If this was the Olympics, the tourists are not doing anything else in the city before they leave. Basically ~1% GDP retention.

Haseeb ＞|＜

🤔👀

https://x.com/hosseeb/status/1883466906080088478?s=46&t=rxAVkMPnT_8alZYrwLqp6g

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina

the culprit is AA

i ain't going to export yet another embedded wallet—i have 3 full stonebooks for key backups already

such app wallets are only good for one thing 

it doesn't tell anything else