“I am not against memes, but meme coins are getting ‘a little’ weird now. Let’s build real applications using blockchain.”
These words from CZ, the former CEO of Binance, on X (Twitter) couldn’t ring more true. While meme coins began as lighthearted, community-focused projects, their evolution has taken a troubling turn. What started as a fun way to engage the crypto world has now become a breeding ground for scams, with thousands of new meme tokens launching daily—99% of which are rug pulls.
Meme coins have morphed into an online casino, a playground for speculation where investors chase the dream of astronomical gains, often at the cost of serious blockchain innovation. The focus has shifted from building and supporting meaningful projects to gambling on the next viral token. For many retail investors, crypto has become synonymous with betting rather than a transformative financial revolution. This perception damages the credibility of the industry and undermines its true potential.
Meme coins have proven to be an effective gateway for onboarding newcomers and fostering a sense of community within the space. However, their current level of prominence far exceeds their true value. The spotlight on meme coins distracts from serious blockchain projects—those with strong fundamentals and the potential to solve real-world problems.
It’s crucial to refocus on what crypto was born to achieve: revolutionizing finance and empowering people. Blockchain technology holds the promise of decentralization, transparency, and freedom from traditional financial systems. But to fulfill this vision, we need to channel our collective efforts into building and supporting projects that matter.
Crypto wasn’t meant to be the world’s largest online casino—it was meant to change the world. Let’s not lose sight of that.
News Highlights
Ethereum Reclaims USDT Dominance from Tron After 2 Years
After a two-year hiatus, Ethereum has reclaimed its position as the blockchain with the largest Tether (USDT) supply, surpassing Tron in a long-awaited milestone. This marks a pivotal shift in stablecoin activity, reigniting Ethereum’s role as a cornerstone of DeFi. The change signals a renewed confidence in Ethereum’s scalable solutions amidst fierce competition. Is this the beginning of a stronger comeback for Ethereum’s dominance?
Base Hits Record TPS as TVL Surpasses $10B
Base is on fire! Coinbase’s layer-2 network hit a groundbreaking 106 transactions per second (TPS) while its total value locked (TVL) surged beyond $10 billion. This explosive growth highlights Base’s increasing appeal to developers and users alike. The milestone not only cements Base as a serious contender but also raises the bar for blockchain performance in 2024.
Bitcoin’s $93K Dip Called ‘Last Flush’ Before $100K Run
“Final stop before liftoff?” Analysts are buzzing as Bitcoin’s dip to $93,000 is being labeled the ‘last flush’ before it shoots to $100,000. With institutional investors gearing up for more action and retail interest peaking, this correction could set the stage for a historic bull run. If Bitcoin breaks this barrier, what heights could it reach next?
UK FCA to Fully Regulate Crypto by 2026
In a game-changing announcement, the UK’s Financial Conduct Authority (FCA) has committed to fully regulating the cryptocurrency market by 2026. This landmark move aims to establish the UK as a global crypto hub, with a balanced approach to innovation and investor protection. As the FCA prepares to roll out its framework, the world watches to see if Britain can lead the charge in crypto-friendly governance.
