Good morning everyone, I'm Old Cat. Remember to follow and like, thank you.
Recently, Binance has been quite active. First, founder CZ unfollowed Musk's account, and then today he tweeted that meme coins have no value. Also, a batch of coins was delisted???
These operations are happening in quick succession, especially during a bull market. For ordinary people, it might not mean much, but for a businessman, only profits can drive him to make operational details. A businessman’s nose is always sensitive, only eternal interests!!!
Old Cat has analyzed three points:
1. The SOL chain's on-chain ecosystem has made meme coins successful, and SOL has already secured the fourth-largest market cap globally, surpassing Binance. Its on-chain ecosystem is directly outperforming Binance Smart Chain, posing a serious threat to it. If SOL launches its own exchange, it could directly take the traffic away. So, the targeted network is actually referring to it. Once the network is launched, the meme segment will plummet... Also, there are quite a few meme coins on its own exchange, and quite a bit of harvesting has occurred. There’s a reason for not mentioning it earlier.
2. Old Musk serves as the chairman of the DOGE Efficiency Committee, which clearly indicates he is a major player in DOGE, along with a bunch of meme coins, including his brother and mother, who are also meme coin enthusiasts. Musk supporting DOGE is also supporting the development of the meme segment, which is beneficial for SOL's ecosystem development. After all, memes are still the mainstream on-chain; additionally, meme coins are bound to produce blockbuster products in the future, which is inevitable. The trend and future development space is large...
3. Coins that were listed are now being delisted. If it's an issue from the project side, delisting is understandable, but the announcement was too simple and vague. Moreover, delisting at this critical point in a bull market is questionable. Even if you delisted before October, everyone would have accepted it, as the market has been declining. If you delist during a bull market, it raises eyebrows. You might say it’s for user benefit, but unflatteringly, it could just be a way to cut losses. Old Cat supports delisting garbage coins, but can we consult the community and contact the project side to explain the reasons, so that everyone is convinced?
Below is the original message posted by CZ on Twitter:
I do not oppose memes, but meme coins have become “a bit” strange now.
Let us build real applications using blockchain.
