DeFI News by Thebittimes.Com

Coinbase CEO Brian Armstrong says that memecoins are the canary in the coal mine, foreshadowing a broader trend of the tokenization of culture. In a new interview with CNBC, Armstrong says he expects memecoins to eventually lead to the tokenization of identities, votes and art. “Memecoins in the broadest sense, I think we should find a way for artists to get paid. Anyone should be able to put artwork and get paid for it. I do think memecoins are a canary in the coal mine, that more and more of the world is going to get tokenized and put on-chain. Every asset class, every vote, every identity, every song, every Instagram post, whatever – in the future I think more and more of these things are going to tokenized. Now, we also need to make sure people are following the law and not doing pump-and-dump schemes or insider trading, and there probably has been a little bit of that in the memecoin space which is not helping anybody. In every crypto cycle, there seem...

Memecoins have once again captured the cryptocurrency spotlight, with Solana (SOL) emerging as a key network supporting this growing trend.  Several memecoins on Solana’s blockchain have posted impressive gains recently, pushing the platform’s native token, SOL, up by 7% in a week. This recent price rally has been fueled by a surge in network activity, driven primarily by the memecoin frenzy on Solana. The rise of memecoins on Solana Among the various tokens making waves on Solana, Goatseus Maximus (GOAT), SPX6900 (SPX), Apu Apustaja (APU), and FWOG have garnered significant attention.  Picks for you Crypto executives unveil FTX market manipulation from the early days 2 hours ago Silver breaks 12-year high - Is the next big ra...

A crypto strategist is warning meme tokens Pepe (PEPE) and dogwifhat (WIF) are now in prime spots to witness deep corrective moves. Pseudonymous trader Credible Crypto tells his 425,900 followers on the social media platform X that he’s leaning bearish on PEPE. According to the analyst, the current PEPE rally will lose steam, setting the stage for a collapse below $0.00000570. “HTF (high time frame) distribution takes time. After bouncing off of our range lows, we are now back at the range highs and once again struggling to clear them – likely leading to another deviation and failure. The next leg down on BTC should give us an outsized move down on PEPE as well. I’m short.”  Source: Credible Crypto/X At time of writing, PEPE is trading for $0.000011, up over 13% in the past day but still close to Credible Crypto’s range high zone. Turning to fellow memecoin WIF, the trader says the altcoin is flashing a bearish setup at its rang...

A closely followed trader is offering his two cents on why he thinks memecoins have exploded in popularity among crypto traders. Pseudonymous analyst Jack Sparrow tells his 251,000 followers on the social media platform X that traders are not sinking capital on memecoins because they believe in their fundamentals or whether meme communities will serve as the cornerstone of the future of finance. The trader says memecoins offer something that most crypto assets don’t: a degree of freedom from the hostile hands of the U.S. Securities and Exchange Commission (SEC). “Memecoins are one of the final frontiers that are somewhat in an unregulated untouchable position. Lack of regulation and the degenerates will gamble in PVP (person vs. person) style games and it being one of the few places left possible without restrictions.” According to the analyst, the exact same scenario has played out before such as the launch of decentralized finance (DeFi) and n...

Meme coins have been flying, and for investors who are new to crypto, it’s money time. These high-risk assets only surge during times of market certainty when animal spirits reign supreme. Bonk ($BONK) has already rallied 2,300% and is rising, but does $BONK have more bounce, or is the bonking party over? What does $BONK’s outrageous success dictate for other memecoin s? Is the scene changing? Which will be the top 5 cryptos to invest in from this sector? Has Bonk’s success paved the way for Galaxy Fox ($GFOX) to rally even higher? Galaxy Fox ($GFOX) Missed $BONK?  Galaxy Fox’s presale shows that investors who missed buying Bonk early are not missing the chance to be early adopters of $GFOX. Funding has flown past $200,000, and this play-to-earn token has become one of the top cryptos to buy right now. Bonk’s success shows that speculative appetite is high. Additionally, it displays how fearsome the rallies will be for meme...