Binance founder Changpeng Zhao has expressed concerns about the growing hype surrounding memecoins and urged the development of more utility-driven tokens. Zhao acknowledged the popularity of memes but expressed unease over their current direction, describing them as “a little weird.” He believes that most memecoins lack real-world value and rely heavily on hype and social media trends to attract investors.
Instead, he encouraged 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 on the issue, 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, despite their volatility and association with scams, and analysts predict that the sector could reach $200 billion.
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