Ki Yoon Joo Concerned About the Popularity of Meme Coins

Founder and CEO of CryptoQuant Ki Yoon Joo expressed concern about the boom in the meme token segment.

According to the expert, such projects simply harm the crypto industry.

“It’s unfortunate to see billions of dollars worth of meme coins overshadow the hardworking teams creating real products to advance the industry,” he said.

Yun Ju compared the situation to the ICO boom in 2018, as a result of which most investors simply lost their invested funds.

“Some say that meme coins are a global lottery system that attracts new users to the industry. Would you risk losing money to enter the space? Moreover, given the “shitcoins” from [эпохи] The 2018 ICOs, which were essentially casinos, did they provide any social value?” asked the founder of CryptoQuant.

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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