75% of memcoins were created over the past year, Binance Research reported. The emergence of memcoins on the market is the result of a complex ecosystem of digital currencies, experts say.
“Memcoins have become a symbol of the values of decentralization and openness, making them particularly attractive to young investors frustrated by traditional financial systems and weakening fiat currencies,” the research report said.
At least 94% of memcoin buyers are millennials or zoomers, people aged 18 to 40 who want to own transparent and accessible financial instruments. Memcoins have become more accessible to users than other altcoins as they are easier to learn and attract significant capital from investment funds faster.
However, despite the growing popularity of memcoins, their life cycle remains short. 97% of coins showed a sharp drop in trading volumes, which once again emphasizes the high-risk nature, Binance Research analysts added.
Earlier, specialists from the IntoTheBlock platform stated that over the past week, the Dogecoin memcoin became the only major asset that surpassed Bitcoin in profit growth. At least 85% of memcoin owners are in the black, experts noted.
Source: Bits
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