Crypto veteran Chris Burniske predicts that #Memecoins🤑🤑 will play a larger role than many expect during the current cycle of the digital asset market.

The Trend of Memecoins Suggests Their Growth

The venture capitalist shared on platform X (formerly Twitter) that the "tendency of memecoins to surge" indicates that their significance will grow more than expected. Burniske said:
"The cultural significance that some #NFT​ collections gained in 2021 will be surpassed by some memecoins. Not to favor any specific projects, but the trend is clear."

Optimism About NFTs

Chris Burniske, partner at venture capital firm Placeholder, is also optimistic about the future of NFTs. According to him, memecoins are becoming a replacement for PFP (profile picture) NFTs, which were primarily focused on profits. On the other hand, real art and creative utility will increasingly focus on NFTs.

"The space for an NFT renaissance is growing," says Burniske. This segmentation will allow creators to better communicate with their communities, while consumers will better understand the motivations of the digital tribes they join.

Evolving Conditions in Favor of Cryptocurrencies

Burniske also highlighted improving conditions for #Cryptocurrencies as an asset class. According to him, it's not just favorable interest rates and ample liquidity, but also the maturing infrastructure of the crypto sector, increasing experimentation by developers with new applications, and the growing number of users. In the past year, the number of active addresses has more than tripled, although addresses are just a proxy for real users.

Market Value of Memecoins and NFTs

At the time of writing, memecoins have a total market value of $53.573 billion, while the market value of NFTs stands at $24 billion.

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!

Notice:

,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“