Memecoin Market Cap hits $ 79B while crypto leaders are fighting the impact of the industry
Members of the Crypto community have expressed conflicting views of the Memecoin Surge, along with some market increasing celebrations and others call it a regression.
The memecoin sector advanced to $ 72 billion in Julyup to 29% from a $ 55 billion market cap on June 30. Behind the rally was a mix of memecoin presale hype, community momentum and a new memecoin launchpad Taking traction in Solana.
On Friday, the Memecoin Market Cap Surged Plus, avoiding $ 79 billion. It represents a 43% climb from its appreciation at the end of June. At the time of writing, the memecoin market cap dropped a little to $ 78.81 billion.
While retail investors are eager to ride the waves and the numbers are noticeable, industry leaders are divided into what Memecoin’s resurrection means for the wider crypto ecosystem.
EXEC says Memecoins is destroying Crypto’s reputation
For builders such as Anthony Anzalone, the founder and CEO of Layer-1 Blockchain Network Xion, Memecoin Mania is less festival and more a symptom of deeper crypto issues.
Anzalone told Cointelegraph that the Memecoins had created a “amazing -wonderful job of destroying the reputation work that many builders were placed towards refining this industry.”
He said the market cap surge was not associated with crypto use cases for regular people entering.
Anzalone sees an opposite touch between the success of the industry and the market cap of the Memecoin sector.
“If anything, I see an opposite touch between the success of this industry and the Memecoin Market Cap because it reads that the capital is nothing better to flow,” Anzalone told cointelegraph.
Memecoins, “the most attractive -attractive” segment
On the other hand, the S, the pseudonymous community leading Neiro Memecoin, argued for Memecoins, saying that the sector remains the most attractive -attractive part of the crypto space.
S to cointelegraph told me that memecoin projects showed signs of maturity throughout the space. S has pointed out projects such as Pudgy Penguins, Floki and Neiro, saying they are “building new technology.”
S also told cointelegraph, “Certainly, Memecoins is a very category of crypto-natives, once with signs of market positivity, warriors in trenches and memecoin aficionados are in a hurry to deploy capital.”
S’s described the Memecoins as “hot, purchased and easy to understand.” The memecoin proponent said the class of property was an antitis in “aggregate, VC-driven projects led by crypto.
Related: 60% of pump participants presale sold or transferred to CEXS
Memecoin Mood “Undoubtedly” bullies flipped
Mercuryo co-founder and CEO Petr Kozyakov said Cointelegraph that emotion remains a major driver in the crypto markets.
He said the advancement could be attributed to the recent pump initial that offered a coin that Sold $ 500 million in minutesAccessing to Memecoin in sales markets and bitcoin (Btc) Reaching a new high time.
He said that despite the opinions of the people of the Memecoins, the asset class became nauseous in crypto culture.
“Regardless of your view of these tokens, they have succeeded in having an army of loyal followers who greatly appreciate participation in their journey,” Kozyakov told Cointelegraph.
While Kozyakov prevents making any predictions about the Memecoin Market Cap, he said the mood surrounding the Memecoins was “undoubtedly flowing on the bullish side.”
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