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Author: OMKAR Godbole Source: Coindesk Translation: Shan Oba, Bitchain Vision Realm
Despite the stagnation of Bitcoin (BTC), the MEME wave is still unstoppable.
According to anonymous analyst Crypto Coryo, the number of MEME listed by the data tracking website CoinMarketcap in April this year reached a record high, reaching 138, compared with only 18 in April last year, showing the growth of parabolic.Crypto Coryo said on the X platform that the actual number may be higher. According to reports, CoinMarketcap only listed 10%of all tokens.
As of press time, the number of MEME listed on CoinMarketcap has reached 2229, with a total market value of more than 50 billion US dollars.Essence
This is an impressive achievement, because Meme is often criticized for lack of practicality or practical cases, and is considered to be purely synightly synonymous.
Vitalik Buterin, the founder of Ethereum (Ethereum), wrote in a blog post: “Fundamentally, people’s participation in Meme transactions may rise because (i) value may rise, (ii) they seem to be democratic and open.They can participate, (III) they are very interesting.
The co -founder, former CEO, and Maelstrom chief investment officer of the cryptocurrency exchange Bitmex, Arthur Hayes, is more inclined to regard MEME as the driving factor of the growth of blockchain ecosystems and advocate to understand them more deeply.
Hayes said in an interview with Real Vision on March 30: “You can devalue these things to stupid and worthless, but if they can attract more attention and engineers enter this field, then they are for the blockchain itself itselfIt is a positive value. “
Programming blockchain Solana has become a new home for these tokens since the end of last year because it is cheaper and faster than Ethereum.During the first quarter, the MEME boom once led to a record high of Solana network activities, pushing the price of SOL for the first time since November 2021 to more than 200 US dollars.
“Due to the high GAS cost, the Defi activity has been transferred from Ethereum. We have seen this on the Bonk and BALD on Solana. But now Solana has become Meme’s home,” Crypto CoryoPoint out.
Chase PEPE
Bitcoin’s recent sluggish price trend allowed speculators to pursue popular MEME tokens PEPE (PEPE).The token rose nearly 17%within 7 days, becoming the ninth good cryptocurrency in the CoinMarketcap list.
In addition, according to data tracked by Kaiko, headquartered in Paris, PEPE also owns the second highest permanent drop -off contract value (OI) ratio to the second highest permanent drop -off contract (OI) ratio of the second highest permanent drop -off contract (OI) ratio of another Meme Dogififwhat (WIF).
Kaiko said in its weekly report: “PEPE (PEPE) and Dogwifhat (WIF) ratio is twice the other cottage coins. The higher ratio indicates that compared with the market value, the derivative market positioning of assets is larger.The price of these tokens is found to be more concentrated in the permanent drop contract market. “
The total value of the unbound contract refers to the value of the US dollar locked in the number of active or open futures contracts.
