Sunday, June 1, 2025
Coin Insights
No Result
View All Result
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Council of Europe Highlights Metaverse's Impact on Privacy and Democracy

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Carrieverse and Disney Ink Content Deal

    Carrieverse and Disney Ink Content Deal

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    Somnia Launches Playground App to Empower Metaverse Creators

    Somnia Launches Playground App to Empower Metaverse Creators

  • NFT
    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

    Courtyard Tops Sales, Doodles Leads in Growth

    Courtyard Tops Sales, Doodles Leads in Growth

    a new collection of NFT stamps inspired by Mozart and Hedy Lamarr

    a new collection of NFT stamps inspired by Mozart and Hedy Lamarr

    Too Early? ‘Networked’ Fashion Label 9dcc Is Shutting Down

    Too Early? ‘Networked’ Fashion Label 9dcc Is Shutting Down

    Trump’s controversial memecoin dinner elicited mixed responses from attendees

    Trump’s controversial memecoin dinner elicited mixed responses from attendees

    NFT sales drop to $129.8m, Avalanche sales surge 200%

    NFT sales drop to $129.8m, Avalanche sales surge 200%

    Alchemy acquires NFT launchpad HeyMint to accelerate smart wallet development

    Alchemy acquires NFT launchpad HeyMint to accelerate smart wallet development

    BeraTone NFT Avatars Are Now Minting Live on OpenSea

    BeraTone NFT Avatars Are Now Minting Live on OpenSea

  • Gaming
    Dæmons Taps Orochi Network to Power GameFi with Verifiable On-Chain Data

    Dæmons Taps Orochi Network to Power GameFi with Verifiable On-Chain Data

    The Biggest Shutdowns So Far in 2025

    The Biggest Shutdowns So Far in 2025

    PCM Wallet Announces Collaboration with DegenVerse to Redefine Web3 Gaming

    PCM Wallet Announces Collaboration with DegenVerse to Redefine Web3 Gaming

    OpenSea Ends Beta, Launches OS2 with Multi-Chain Support, XP Rewards & SEA Token

    OpenSea Ends Beta, Launches OS2 with Multi-Chain Support, XP Rewards & SEA Token

    Blockchain And Crypto Are Future of Online Gambling

    Blockchain And Crypto Are Future of Online Gambling

    DeepLink Partners with AscendEX to Power Web3 Gaming in Global Markets

    DeepLink Partners with AscendEX to Power Web3 Gaming in Global Markets

    Why GamStop Players Try Competitive Gaming

    Why GamStop Players Try Competitive Gaming

    Ethereum Games ‘Realms of Alurya’ and ‘Wonder Wars’ Latest to Go Offline

    Ethereum Games ‘Realms of Alurya’ and ‘Wonder Wars’ Latest to Go Offline

    Real-World Asset NFTs Emerge as the Next Big Crypto Trend in May 2025

    Real-World Asset NFTs Emerge as the Next Big Crypto Trend in May 2025

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    SoonVerse Partners with Arris to Enhance User Experience

    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

    I asked ChatGPT to predict Ethereum’s prospects as billionaire holders accumulate

    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    Key Innovations, Challenges, and What Comes Next

    Key Innovations, Challenges, and What Comes Next

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    Types, Use Cases and Why They Matter

    Types, Use Cases and Why They Matter

    What’s the Real Difference for Beginners?

    What’s the Real Difference for Beginners?

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    The Main Differences Between Crypto Exchanges

    What Is a DEX? How DEXs Work and Why They Matter

    What Is Blockchain? Blockchain Technology Explained for Beginners

    What Is Blockchain? Blockchain Technology Explained for Beginners

    Blockchain Layers Explained for Beginners: L1, L2, L3 Solutions

    Blockchain Layers Explained for Beginners: L1, L2, L3 Solutions

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Council of Europe Highlights Metaverse's Impact on Privacy and Democracy

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Carrieverse and Disney Ink Content Deal

    Carrieverse and Disney Ink Content Deal

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    Somnia Launches Playground App to Empower Metaverse Creators

    Somnia Launches Playground App to Empower Metaverse Creators

  • NFT
    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

    Courtyard Tops Sales, Doodles Leads in Growth

    Courtyard Tops Sales, Doodles Leads in Growth

    a new collection of NFT stamps inspired by Mozart and Hedy Lamarr

    a new collection of NFT stamps inspired by Mozart and Hedy Lamarr

    Too Early? ‘Networked’ Fashion Label 9dcc Is Shutting Down

    Too Early? ‘Networked’ Fashion Label 9dcc Is Shutting Down

    Trump’s controversial memecoin dinner elicited mixed responses from attendees

    Trump’s controversial memecoin dinner elicited mixed responses from attendees

    NFT sales drop to $129.8m, Avalanche sales surge 200%

    NFT sales drop to $129.8m, Avalanche sales surge 200%

    Alchemy acquires NFT launchpad HeyMint to accelerate smart wallet development

    Alchemy acquires NFT launchpad HeyMint to accelerate smart wallet development

    BeraTone NFT Avatars Are Now Minting Live on OpenSea

    BeraTone NFT Avatars Are Now Minting Live on OpenSea

  • Gaming
    Dæmons Taps Orochi Network to Power GameFi with Verifiable On-Chain Data

    Dæmons Taps Orochi Network to Power GameFi with Verifiable On-Chain Data

    The Biggest Shutdowns So Far in 2025

    The Biggest Shutdowns So Far in 2025

    PCM Wallet Announces Collaboration with DegenVerse to Redefine Web3 Gaming

    PCM Wallet Announces Collaboration with DegenVerse to Redefine Web3 Gaming

    OpenSea Ends Beta, Launches OS2 with Multi-Chain Support, XP Rewards & SEA Token

    OpenSea Ends Beta, Launches OS2 with Multi-Chain Support, XP Rewards & SEA Token

    Blockchain And Crypto Are Future of Online Gambling

    Blockchain And Crypto Are Future of Online Gambling

    DeepLink Partners with AscendEX to Power Web3 Gaming in Global Markets

    DeepLink Partners with AscendEX to Power Web3 Gaming in Global Markets

    Why GamStop Players Try Competitive Gaming

    Why GamStop Players Try Competitive Gaming

    Ethereum Games ‘Realms of Alurya’ and ‘Wonder Wars’ Latest to Go Offline

    Ethereum Games ‘Realms of Alurya’ and ‘Wonder Wars’ Latest to Go Offline

    Real-World Asset NFTs Emerge as the Next Big Crypto Trend in May 2025

    Real-World Asset NFTs Emerge as the Next Big Crypto Trend in May 2025

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    SoonVerse Partners with Arris to Enhance User Experience

    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

    I asked ChatGPT to predict Ethereum’s prospects as billionaire holders accumulate

    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    Key Innovations, Challenges, and What Comes Next

    Key Innovations, Challenges, and What Comes Next

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    Types, Use Cases and Why They Matter

    Types, Use Cases and Why They Matter

    What’s the Real Difference for Beginners?

    What’s the Real Difference for Beginners?

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    The Main Differences Between Crypto Exchanges

    What Is a DEX? How DEXs Work and Why They Matter

    What Is Blockchain? Blockchain Technology Explained for Beginners

    What Is Blockchain? Blockchain Technology Explained for Beginners

    Blockchain Layers Explained for Beginners: L1, L2, L3 Solutions

    Blockchain Layers Explained for Beginners: L1, L2, L3 Solutions

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
No Result
View All Result
Coin Insights
No Result
View All Result
Home Altcoins

“Mind-Boggling” Returns Tempt Financial Giants

April 24, 2024
in Altcoins
0
“Mind-Boggling” Returns Tempt Financial Giants
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

In a recent Bloomberg report, it has come to light that the hedge fund industry is increasingly drawn to the allure of the memecoin sector, given the recent price increases and substantial profits that surpass those of Bitcoin (BTC) or the largest altcoins in the market.

Memecoin Mania

One example of the appeal of memecoins to traditional finance institutions is Newport Beach-based Stratos, which launched a liquid fund with the Dogwifhat token in December. 

The Solana-based memecoin Dogwifhat, known for its mascot – a beanie-wearing dog – became a major player in the crypto world, with its price increasing more than 300 times. 

This substantial spike reportedly helped Stratos achieve a staggering 137% return in the first quarter of 2024, outperforming gains in the broader crypto market. However, Dogwifhat has since retraced more than 35% from its March 31 all-time high (ATH) of $4.83 and is currently trading at $3.09.

Interestingly, Stratos is not alone in venturing into memecoins; other hedge funds are also doing so. 

Asset manager Brevan Howard, for instance, has reportedly made a “tiny” investment in memecoins. Pantera Capital, a crypto fund, recently emphasized the staying power of memecoins and the “enormous” trading opportunities they present. 

Is It Just Gambling?

Despite the enthusiasm from some hedge funds, the report notes that many crypto participants remain skeptical of memecoins. 

Quinn Thompson, the founder of Lekker Capital, a hedge fund experimenting with trading memecoins, likened the current frenzy to the speculative fervor seen in traditional markets with stocks like GameStop. 

In addition, Thompson described memecoins as the “tip of the spear for speculation” and emphasized the “gambling-like” nature of their trading.

Still, Cosmo Jiang, a portfolio manager at Pantera Capital, noted the evolution of memecoins beyond mere jokes, calling some “culture coins” that symbolize membership in a particular group or belief system. 

See also  Bitcoin's drop to $58K - The how, why, and what next for BTC's price

The report notes that the ease of creating and launching memecoins has increased with the availability of apps like Pump.fun, which allow users to mint coins in minutes. Blockchains like Solana and Coinbase’s Base, which offer low trading fees, have been flooded with these tokens. 

In light of these developments, Josh de Vos, research lead at CCData, highlighted the improved infrastructure supporting memecoins, including increased liquidity and the development of advanced futures markets on centralized exchanges (CEX). 

As more hedge funds take memecoins seriously, Rennick Palley of Stratos anticipates a growing focus on these crypto assets. 

Drawing parallels to the initial skepticism surrounding cryptocurrencies, Palley suggests that meme-only funds may emerge, mirroring the creation of non-fungible token (NFT) funds.

To further demonstrate the interest and adoption of these emerging tokens, in the first quarter of 2024, memecoins emerged as the most profitable crypto narrative, delivering massive average returns of 1312.6% across its top tokens, according to a recent study conducted by CoinGecko.

Memecoin
The daily chart shows DOGE’s price trending upwards over the past 7 days. Source: DOGEUSD on TradingView.com

Currently, the largest memecoin on the market, Dogecoin (DOGE), is trading at $0.1616, up 5% in the last seven days. It has a market cap of $23 billion. 

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

Toncoin heats up: What does $398M in trading volume indicate?

In a recent Bloomberg report, it has come to light that the hedge fund industry is increasingly drawn to the allure of the memecoin sector, given the recent price increases and substantial profits that surpass those of Bitcoin (BTC) or the largest altcoins in the market.

See also  CFPB Raises Concerns over Online Gaming Financial Transactions

Memecoin Mania

One example of the appeal of memecoins to traditional finance institutions is Newport Beach-based Stratos, which launched a liquid fund with the Dogwifhat token in December. 

The Solana-based memecoin Dogwifhat, known for its mascot – a beanie-wearing dog – became a major player in the crypto world, with its price increasing more than 300 times. 

This substantial spike reportedly helped Stratos achieve a staggering 137% return in the first quarter of 2024, outperforming gains in the broader crypto market. However, Dogwifhat has since retraced more than 35% from its March 31 all-time high (ATH) of $4.83 and is currently trading at $3.09.

Interestingly, Stratos is not alone in venturing into memecoins; other hedge funds are also doing so. 

Asset manager Brevan Howard, for instance, has reportedly made a “tiny” investment in memecoins. Pantera Capital, a crypto fund, recently emphasized the staying power of memecoins and the “enormous” trading opportunities they present. 

Is It Just Gambling?

Despite the enthusiasm from some hedge funds, the report notes that many crypto participants remain skeptical of memecoins. 

Quinn Thompson, the founder of Lekker Capital, a hedge fund experimenting with trading memecoins, likened the current frenzy to the speculative fervor seen in traditional markets with stocks like GameStop. 

In addition, Thompson described memecoins as the “tip of the spear for speculation” and emphasized the “gambling-like” nature of their trading.

Still, Cosmo Jiang, a portfolio manager at Pantera Capital, noted the evolution of memecoins beyond mere jokes, calling some “culture coins” that symbolize membership in a particular group or belief system. 

The report notes that the ease of creating and launching memecoins has increased with the availability of apps like Pump.fun, which allow users to mint coins in minutes. Blockchains like Solana and Coinbase’s Base, which offer low trading fees, have been flooded with these tokens. 

See also  Fleet Management Systems Market Is Booming So Rapidly | Major Giants Verizon Connect, Teletrac Navman

In light of these developments, Josh de Vos, research lead at CCData, highlighted the improved infrastructure supporting memecoins, including increased liquidity and the development of advanced futures markets on centralized exchanges (CEX). 

As more hedge funds take memecoins seriously, Rennick Palley of Stratos anticipates a growing focus on these crypto assets. 

Drawing parallels to the initial skepticism surrounding cryptocurrencies, Palley suggests that meme-only funds may emerge, mirroring the creation of non-fungible token (NFT) funds.

To further demonstrate the interest and adoption of these emerging tokens, in the first quarter of 2024, memecoins emerged as the most profitable crypto narrative, delivering massive average returns of 1312.6% across its top tokens, according to a recent study conducted by CoinGecko.

Memecoin
The daily chart shows DOGE’s price trending upwards over the past 7 days. Source: DOGEUSD on TradingView.com

Currently, the largest memecoin on the market, Dogecoin (DOGE), is trading at $0.1616, up 5% in the last seven days. It has a market cap of $23 billion. 

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Tags: FinancialgiantsMindBogglingReturnsTempt

Related Posts

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor
Altcoins

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

June 25, 2024
Toncoin heats up: What does $398M in trading volume indicate?
Altcoins

Toncoin heats up: What does $398M in trading volume indicate?

June 25, 2024
Another $600M Exits, Price Drops Lower
Altcoins

Another $600M Exits, Price Drops Lower

June 25, 2024
Bitcoin faces downward pressure as Mt. Gox prepares for repayments
Altcoins

Bitcoin faces downward pressure as Mt. Gox prepares for repayments

June 25, 2024
XRP at a crossroads: A drop to $0.445 or rally to $0.5 next?
Altcoins

XRP at a crossroads: A drop to $0.445 or rally to $0.5 next?

June 24, 2024
True Correction Underway? Over $500 Million Exits Bitcoin ETFs — Coinshares
Altcoins

True Correction Underway? Over $500 Million Exits Bitcoin ETFs — Coinshares

June 24, 2024
Next Post
Voyager: Ascension Launches on GalaChain Amid Plans for Cardano Gaming Expansion

Voyager: Ascension Launches on GalaChain Amid Plans for Cardano Gaming Expansion

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

October 28, 2023
Tezos 2023 Outlook: An Overview of Tezos (XTZ)

Tezos 2023 Outlook: An Overview of Tezos (XTZ)

November 2, 2023
UK risks regulating NFTs the wrong way, says Mintable CEO

UK risks regulating NFTs the wrong way, says Mintable CEO

October 30, 2023
Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024
Ethereum crosses $3.2K as L2 crosses new milestone: What now?

Ethereum crosses $3.2K as L2 crosses new milestone: What now?

May 6, 2024

Don't miss a single story

Subscribe to our free Newsletter

EDITOR'S PICK

U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June: JPMorgan

U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June: JPMorgan

June 17, 2024
5 Tips to Get Your First Win

5 Tips to Get Your First Win

October 18, 2024
TON surges 30% in 24 hours – Can it replace DOGE, Cardano in the top 10? 

TON surges 30% in 24 hours – Can it replace DOGE, Cardano in the top 10? 

March 12, 2024
The SIMD-0096 Proposal (here’s what that means)

The SIMD-0096 Proposal (here’s what that means)

May 30, 2024

About

Dive into the world of cryptocurrency. Our news site offers insights, trends, and updates to guide your journey into the realm of digital finance.

Follow us

Categories

  • AI
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • DeFi
  • Ethereum
  • Gaming
  • Guides
  • Metaverse
  • Mining
  • NFT
  • Other
  • Web 3

Recent Posts

  • Dæmons Taps Orochi Network to Power GameFi with Verifiable On-Chain Data
  • Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs
  • The Biggest Shutdowns So Far in 2025

Newsletter

Don't miss a single story

Subscribe to our free Newsletter

  • Contact
  • Disclosure
  • Privacy Policy
  • Terms & conditions

© 2023 Coininsights.com - All rights reserved.

No Result
View All Result
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
  • Metaverse
  • NFT
  • Gaming
  • Blockchain
  • AI
  • Guides
  • Analysis
  • Coin Marketcaps

© 2023 Coininsights.com - All rights reserved.