Trump Memocoin Frenzy unsold winner
“If you break it down, there are a lot of mobile components in the backend that people don’t necessarily recognize,” says Anurag Arjun, co-founder of Crypto Infrastructure Startuture Avail, and many transactions. says Polygon, a cryptographic network built to rapidly process. .
Until the second half of 2023, First ink ring Solana, who had begun to show off her Memecoin’s frenzy, was Relative Ghost Town. Few people use the network, so the services built on top had to be on scrap. It’s still There are very few Solana-based applications It is built for purposes other than financial speculation. “There are a lot of jokes about Solana’s development being like chewing glass,” says Tom. “It can be very difficult.”
MemeCoins have been previously It was corned as unsafe Therefore, it could damage the crypto industry because it is aimed at validity. In particular, the card coins areGrab the money.“However, the arrival of coins like Trump can bring important benefits to cryptographic networks widely, and the arrival of Mime Coin Gamblers will build other applications for using other applications. It can create a flywheel effect to attract keen developers. When people equip Solana wallets, as theory goes, they are more likely to be involved in all sorts of Solana-based applications, including social platforms, games, music services, and more.
“Many application teams target these new users,” says Arjun. “Memecoin is an example of what can be done with this infrastructure.”
Trump’s launch is also important for hinting at the US government’s attitude towards cryptography, experts say. There is in the industry I complained for a long time About the lack of explicit rules governing the issuance of new coins in the United States. Given the president’s accusations, Trump’s launch may be interpreted as implicit permission.
“This is going to create a kind of ruling that will be fooled by all different institutions. America is embracing crypto,” said the digital assets portfolio manager at investment firm Zeltner & Co and the chief economist at Crypto Trading Publishing Cointelegraph. said one Demelza Hays. “I think I’m going to see (a lot of) celebrity memokine.”
Similar to Trump’s launch, Solana Memocoin’s supply chain exchanges and other components can benefit from primarily traders.
“Trading Trump Memecoin is like betting on roulette. Betting on Solana itself is like betting on the whole casino,” says Hayes. “If there’s a lot of trading volume, we’ll definitely see (exchanges) do very well.”
Raydium probably makes money from the potential flywheel effect created by Memecoin Frenzy, and while the US has embraced the crypto, Tom finds himself at odds with Trump.
“The business at Raidium is to drive volume. We are trying to take a very agnostic approach to the tokens available on the platform,” he says. “And choosing Solana as the most powerful person in the world and launching their Memecoin, whatever the pretext is, is a great indication of where Solana is now.”
But for an industry that has struggled to move for a long time There is dirt in its reputationTom says the immediate sugar best created by Trump’s launch may not prove that the coin is worth the negative attention it attracts due to the losses that ordinary investors have incurred.
“In the six months I’ve been working in this field, I’ve been asserting that I’m trying to move the story away from default, with a lot of glyft and malicious activity that happens within the code,” Tom says. Masu. “I’m very conscious of that reputation.”
Two days after Trump began trading, first lady Melania Trump launched her own memo coin. The critics expressed similar things Chorus of concern It relates to the alleged conflict of interest.
The White House did not respond to requests for comment. Requests sent to emails listed on the Melania Memecoin website have now been unresponsive.
Trump’s launch day was a thrill, but now Tom feels calm. “I was. This doesn’t feel as good as yesterday,” he says. “I definitely didn’t buy Melania.”