The current crypto market cycle, which is undergoing a heavy pullback, has largely been driven by meme coin mania and spot Bitcoin ETF hype.
On May 1, economist and trader Alex Krüger shared his thoughts on what has been a rather bizarre crypto market cycle.
Meme coins have dominated the narrative, alongside bitcoin following the ETF launches, he observed.
However, most of them have now dumped or gone to zero and meme coin scams were rife on the Solana and Base networks.
Nevertheless, large-cap meme coins “rank among the strongest performers of the year, still exhibiting significant returns despite the correction,” he said before adding.
“Meme coins have established themselves as a viable asset class in their own right.”
Some thoughts on the current crypto cycle
#1 The crypto cycle has been almost entirely driven by the bitcoin ETF.
#2 ETH has been a major disappointment, but it has performed well overall for stakers and airdrop farmers.
#3 Solana established itself as the cha
We współpracy z: https://cryptopotato.com/meme-coins-cement-asset-class-status-amid-founder-cash-grabs/
