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Bitcoin and Solana Lead the Meme Coin Craze: What Are the Potentials?

HashKey discussed the potential of the meme coin craze on the Bitcoin (BTC) and Solana (SOL) networks.

HashKey OTC CEO Li Liang drew attention to the improvement in funding rates as one of the signs of recovery in crypto markets.

According to Liang, the Solana and Bitcoin ecosystems were the pioneers of this recovery, while meme coins growing on these networks attracted significant interest in the market.

While meme coins on the Solana and Bitcoin networks in particular stood out with the increase in liquidity, meme coins such as Pepe (PEPE) and Shiba Inu (SHIB) on Ethereum also began to attract attention.

However, the rise of meme coins on Ethereum was not as rapid as on the Solana and Bitcoin networks.

In addition, the fact that Conflux was seen as the “Ethereum of China” also led to liquidity-based movements in the markets.

In addition, the fact that the Conflux protocol launched stablecoin support thanks to its partnership with WUSD was welcomed positively by investors. Although WUSD is a small stablecoin, many new products have been launched in the stablecoin field recently.

UStb offered by Ethena Labs and BitGo’s new stablecoin USDS are among the announcements that the market reacted positively to. This increasing popularity of stablecoins also increases optimistic expectations for the crypto markets.