đđBitcoin and Solana Lead the Meme Coin Trend: What Are the Potentials? đđ
HashKey discussed the potential of meme coin movements on the Bitcoin (BTC)$BTC
and Solana (SOL) networks.
HashKey OTC CEO Li Liang drew attention to the improvement in funding rates as one of the signs of recovery in crypto markets. Liang pointed to the Solana and Bitcoin ecosystems as the pioneers of this recovery, while emphasizing that the growing meme coins on these networks also attracted attention.
While meme coins on the Solana and Bitcoin networks in particular stand out with increasing liquidity, meme coins such as Pepe (PEPE) and Shiba Inu (SHIB) on Ethereum$ETH
have also begun to attract attention. However, the rise of meme coins on Ethereum was not as rapid as on the Solana and Bitcoin networks.
In addition, Conflux being seen as the "Ethereum of China" caused liquidity-focused movements in the markets. The stablecoin support offered by the Conflux protocol through its partnership with WUSD created a positive impact among investors. Although WUSD is a small stablecoin, many new products have been launched in the stablecoin field recently.
Ethena Labs' UStb and BitGo's new stablecoin USDS are among the announcements that the market has reacted positively to. The increasing popularity of stablecoins also increases optimistic expectations for the crypto markets.
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