{"id":11724,"date":"2024-03-19T10:27:34","date_gmt":"2024-03-19T08:27:34","guid":{"rendered":"https:\/\/forklog.com\/en\/cryptoquant-ceo-criticizes-meme-coin-surge\/"},"modified":"2024-03-19T10:27:34","modified_gmt":"2024-03-19T08:27:34","slug":"cryptoquant-ceo-criticizes-meme-coin-surge","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cryptoquant-ceo-criticizes-meme-coin-surge\/","title":{"rendered":"CryptoQuant CEO Criticizes Meme Coin Surge"},"content":{"rendered":"<p>Ki Young Ju, founder and CEO of CryptoQuant, has voiced concerns over the surge in the meme token sector.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Meme coins harm the crypto industry.<\/p>\n<p>It&#8217;s frustrating to see billion-dollar-cap memecoins overshadow hardworking teams building legit products to advance this industry.<\/p>\n<p>Easy money can&#8217;t drive industry-wide progress, as shown by the 2018 ICO burst. <a href=\"https:\/\/t.co\/YWkRA39v9Z\">https:\/\/t.co\/YWkRA39v9Z<\/a><\/p>\n<p>\u2014 Ki Young Ju (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1769759121903927446?ref_src=twsrc%5Etfw\">March 18, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the expert, such projects simply harm the crypto industry.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;It&#8217;s frustrating to see billion-dollar-cap meme coins overshadow hardworking teams creating real products to advance the industry,&#8221; he stated.<\/p>\n<\/blockquote>\n<p>Ju compared the situation to the ICO boom in 2018, which resulted in most investors losing their funds.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Some say meme coins are a global lottery system that attracts new users to the industry. Would you risk losing money to enter the space? Moreover, considering the &#8216;shitcoins&#8217; from the 2018 ICO era, which were essentially casinos, did they bring any public value?&#8221; the CryptoQuant founder questioned.<\/p>\n<\/blockquote>\n<p>As an illustration, Ju used the story of the SLERF coin. Within hours of its launch, the asset was listed on several exchanges and reached a trading volume of $1.7 billion, despite developers losing users&#8217; funds.<\/p>\n<p>Earlier, experts at Franklin Templeton concluded that meme tokens lack &#8220;native&#8221; value and are highly unstable.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ki Young Ju, founder and CEO of CryptoQuant, has voiced concerns over the surge in the meme token sector. Meme coins harm the crypto industry. It&#8217;s frustrating to see billion-dollar-cap memecoins overshadow hardworking teams building legit products to advance this industry. Easy money can&#8217;t drive industry-wide progress, as shown by the 2018 ICO burst. https:\/\/t.co\/YWkRA39v9Z [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1161,1138,596],"class_list":["post-11724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-memes","tag-opinions","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=11724"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11724\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/11723"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=11724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=11724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=11724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}