Founder and CEO of CryptoQuant Ki Yoon Joo expressed concern about the boom in the meme token segment.
Meme coins harm the crypto industry.
It's frustrating to see billion-dollar-cap memecoins overshadow hardworking teams building legit products to advance this industry.
Easy money can't drive industry-wide progress, as shown by the 2018 ICO burst. https://t.co/YWkRA39v9Z
— Ki Young Ju (@ki_young_ju) March 18, 2024
According to the expert, such projects simply harm the crypto industry.
Yun Ju compared the situation to the ICO boom in 2018, as a result of which most investors simply lost their invested funds.
Yun Ju used the history of the SLERF coin as an illustration. Within a few hours of its launch, the asset was listed on several exchanges and reached a trading volume of $1.7 billion, despite the loss of user funds by the developers.
Source: Cryptocurrency

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