An interesting dialogue took place in the crypto space today, involving prominent expert Chris Burniske and Solana (SOL) cofounder Anatoly Yakovenko.
During an appearance on Unchained, Chris Burniske, a partner at Placeholder and an adjunct professor at the University of Wyoming, shared his thoughts on meme coins, which have had a major impact on Solana's (SOL) recognition and adoption.
According to Burniske, the tendency of meme coins to trigger is all one needs to observe to know that they will be bigger than expected in the expansion ahead.
"The meme coin energy is undeniable. If you observe anything, observe the meme coin trigger. It will be larger than you anticipate in the expansion ahead. Moreover, the cultural relevance that some NFT collections achieved three years ago will be surpassed by some meme coins.
This can already be seen in the perceptions that some of these tokens are experiencing because they are dubbed "culture coins" and not "meme." I am not here to back a horse, but the trend is clear."
Anatoly Yakovenko, the co-founder of Solana, also shared his thoughts on meme coins during the conversation.
"I think previous cycles were also 90% meme 10% product. My theory is that memecoins today have completely absorbed the meme energy that drove other cycles, like DeFi summer. Now each product has to make it purely on value. If that’s the case, it’s a good thing for the industry."
As reported by CoinMarketCap, the total market capitalization of meme coins is just over $50 billion. That is despite the fact that the total capitalization of the entire crypto market is over $2.21 trillion.
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