An intriguing conversation recently took place in the world of cryptocurrency, featuring prominent expert Chris Burniske and Solana (SOL) co-founder Anatoly Yakovenko. The primary focus of their discussion was meme coins, which have captured significant attention in the current crypto cycle and have notably influenced Solana’s recognition and adoption.

#MemecoinsđŸ€‘đŸ€‘ Have Huge Potential

According to Burniske, simply observing the launch of meme coins is enough to understand that their impact in future expansion cycles will be greater than initially expected. He further explains that the cultural significance achieved by some #NFT​ collections three years ago will eventually be surpassed by certain meme coins.

This shift in perception is already evident, with many of these tokens now being referred to as “cultural coins” rather than “meme coins.” Burniske concludes his point by saying, “I’m not here to backtrack, but the trend is clear.”

Meme Coins Absorb Market Energy

Anatoly Yakovenko responded with his own surprising and thought-provoking opinion. In his view, previous crypto market cycles were 90% based on meme elements and only 10% on actual products. The entrepreneur also believes that today’s meme coins have absorbed the energy that once fueled other cycles, such as the DeFi summer of 2021.

Yakovenko also emphasized that every new product now must be built purely on value, which he sees as a positive development for the crypto industry.

Meme Coins Still Have a Small Market Share

Although meme coins are widely discussed, their overall market capitalization remains relatively small. According to CoinMarketCap, the total market capitalization of the #memecoin🚀🚀🚀 sector is just over $50 billion, while the entire crypto market’s capitalization exceeds $2.21 trillion.

While #bitcoin☀ dominates much of this capitalization, meme coins account for only 5.37% of the market. However, it’s possible that what we’re witnessing now is just the beginning of something much larger.

#Solana_Blockchain

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