- BitMEX Co-Founder discusses the benefits of meme coins for the crypto industry.
- According to Hayes, these types of assets attract new developers and users to the industry.
- Ethereum and Solana are the most suitable networks for meme coins, he believes.
Investor and BitMEX cryptocurrency exchange co-founder, Arthur Hayes, advocated that meme coins should not be considered “stupid and useless.” He warned against premature conclusions based solely on the nature of such assets’ origins.
The entrepreneur believes that meme coins offer tangible benefits to the industry, attracting new users and developers. These coins garner a lot of attention, which aids blockchain development.
According to Hayes, networks that support meme coins and encourage their further integration into the industry will increase in value over time. He emphasized that Ethereum and Solana are currently the most suitable blockchains for them.
Hayes noted that this type of asset is gaining popularity among young investors, driven by their “game mentality” characteristic of so-called millennials and zoomers.
The entrepreneur anticipates that interest in meme coins will persist in the near future, supported by unconventional marketing solutions, such as the advertising of the Dogwifhat (WIF) logo on the screen of the MSG Sphere entertainment complex in Las Vegas.
It’s worth noting that the WIF rate reached a historic high last week. At the time of writing, the asset’s price stands at $4.38, according to TradingView.
Ethereum co-founder Vitalik Buterin also previously shared his thoughts on the future of meme coins. He explored various uses for this class of assets, including financing public projects.
Analytical experts at investment company Franklin Temlpeton also presented a report on meme coins, highlighting a strong correlation between such coins and native blockchains, as well as their impact on network activity.
