CryptoQuant CEO Highlights Similarities Between Meme Coins and Art Markets

Meme coins are considered inherently useless and possibly without a future, but Ki Young Ju, founder and CEO of cryptoanalysis platform CryptoQuant, thinks otherwise. In fact, he has compared the entertainment sector to the art market, insisting that they have some similarities and can be viewed through the same lens.

According to a<a target="_blank" href="https://x.com/ki_young_ju/status/1883467425011896336″ data-wpel-link=”external” target=”_blank”> tweetJu believes that value is assessed similarly in both the meme coin and art markets; Both sectors “legitimize intangible value through narrative.” The meme coin sector is worth more than $88 billion, while the art sector is worth approximately $550 billion, according to recent data. investigation.

Meme coins are like art

Using the same logic, Ju said the art market must be seen as a scam if the meme coin market is considered one. The founder of CryptoQuant acknowledged that meme coins currently have many problems; However, that does not mean that they will be of no use in the future.

Ju compared the current problems in the space to how bitcoin was criticized ten years ago and labeled it as a speculative asset linked to drug deals and money laundering activities. Just as bitcoin has evolved over the years and become a major global asset, in the coming years the meme coin sector could mature with the emergence of fair practices that would prevent the theft of investor funds through rolls. of carpets and bombs and dumps.

“Soluble problems are solved over time. If it is inherently unsolvable, the industry collapses… This is not to dismiss bitcoin but to encourage awareness of where the world is headed. I hope they can consider this as a possible future,” Ju said.

Meme coin market to mature by 2030

Additionally, Ju stated that hype-sounding meme coins may fade away, but the market itself will not “disappear.” The crypto analyst expects the sector to reach a more mature form around 2030.

“Of course, many unsightly elements still remain, as the meme coin market is currently approaching the peak of inflated expectations. “Over time, the market will enter the trough of disillusionment, followed by years of gradual maturation,” he added.

Ju's comments come as the crypto industry witnesses a rise in meme coin creation from both major industry players and random users. Even celebrities and government officials are jumping on the bandwagon. More than 50,000 meme coins are created daily (many more are launched during intense hype) and crypto executives are championing the need for the sector to evolve beyond fun and humor.

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