Avalanche Foundation to Purchase Meme Coins as Part of Culture Drive
“These coins, often inspired by internet culture and humor, go beyond mere utility assets,” the foundation said.
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“These coins, often inspired by internet culture and humor, go beyond mere utility assets,” the foundation said.
Value locked on the blockchain’s applications has more than doubled since November.
Solana has overtaken XRP as the fifth-largest cryptocurrency, with its market cap hitting a 20-month high of $33.7 billion, according to CoinMarketCap.
Tokens like GFY, TRUCK and GROK tied to Musk’s products and recent statements have popped up on Ethereum and other blockchains.
The price of pepe [PEPE], one of the many memecoins that spawned out of crypto winter, has doubled in a week as traders anticipate the etchings of a bitcoin [BTC] spot ETF-induced bull market.
The tokens were up as much as 5% in the past 24 hours, bucking a market-wide trend.
The creation of Bitcoin-based meme coins using the new BRC-20 standard has driven up Bitcoin fees as they use more data than a basic Bitcoin transaction. But while some developers in the Bitcoin community are proposing a filter to block Bitcoin NFT projects, such censorship could run counter to Bitcoin’s open-source characteristics, CoinDesk’s chief content officer Michael Casey argues.