The founder of Binance, CZ, concerned about the current state of memecoins

According to CZ, memecoins are becoming a bit strange. He urged developers to invest their time in creating more useful blockchain applications.

The incessant creation and launch of memecoins in the cryptocurrency ecosystem has caught the attention of prominent figures, leading to a call for the reduction of meaningless tokens and the development of more useful applications.

Changpeng Zhao (CZ), founder and former CEO of the world's largest cryptocurrency company, Binance, lent his voice to the cause, tweeting that memecoins are becoming a bit strange. However, he noted that his call for more useful applications on the blockchain does not translate to hating memecoins.

Many community members agreed with CZ's stance on memecoins, stating that the tokens had gone from being fun to funny and then became "extremely strange and desperate."