Binance founder Changpeng Zhao has expressed concerns about the increasing popularity of memecoins, urging developers to focus on creating utility-driven tokens instead. In a post on X (previously Twitter), Zhao acknowledged the trend’s popularity but described it as “a little weird,” emphasizing that most memecoins lack real-world value and rely on hype and social media trends.
He wants developers to focus on creating blockchain applications with tangible utility rather than riding short-lived trends. Despite Zhao’s appeal, the crypto community remains divided, with some agreeing with his call for utility-driven innovation and others defending memecoins as a unique aspect of the crypto ecosystem that could enable retail adoption.
Memecoins remain one of the fastest-growing areas in crypto, and their market cap has more than doubled to a peak of $120 billion since Donald Trump’s US presidential election victory.
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<p>The post Binance CEO Warns Against Memecoin Hype, Urges Utility-Focused Tokens first appeared on CoinBuzzFeed.</p>