The expert criticized the boom of meme coins
Founder and CEO of CryptoQuant Ki Yoon Joo expressed concern about the boom in the meme token segment.
According to the expert, such projects simply harm the crypto industry.
“It’s unfortunate to see billions of dollars worth of meme coins overshadow the hardworking teams creating real products to advance the industry,” he said.
Yun Ju compared the situation to the ICO boom in 2018, as a result of which most investors simply lost their invested funds.
“Some say that meme coins are a global lottery system that attracts new users to the industry. Would you risk losing money to enter the space? Moreover, given the “shitcoins” from the 2018 ICO [era], which were essentially casinos, did they provide any social value?” asked the CryptoQuant founder.
