He Yi, co-founder of Binance, explained: Binance has no intention to guide the trend towards Meme. There are three types of projects now: Telegram games, all for airdrops; many infrastructures, all high FDV VC coins; Memecoins. Binance found some projects with low FDV and dispersed coin holdings to test.

This simply indicates 90% of projects above 200M$ is worthless now.

There is no room for old bigcap projects. Market finds the hype/narrative/manipulation in new small projects.