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CryptoQuant Founder Reveals Memecoins Dominance Signals Weak Altcoin Narratives

Key Points:

Ki Young Ju compares cryptocurrency traders to game players, with Web3 projects as their game developers.
Memecoins dominance, while most altcoins struggle with weak narratives and fundamentals.
A stablecoin-based Web3 future is forming, offering new opportunities for analytical investors to find alpha.

Ki Young Ju compared cryptocurrency traders to game players and Web3 projects to game developers, and memecoins dominance for now, as most altcoins lack strong narratives based on fundamentals.

Crypto Traders Are Game Players in the Web3 Ecosystem

According to Ju, the key to success in Web3 is creating an engaging experience that resonates emotionally. This suggests that building in Web3 is more about art than business. He emphasized that for many traders, the desire to make money is the ultimate game, driven by dopamine.

Ju noted that while meme coins dominate, most altcoins lack a solid fundamental narrative to drive their value. However, Ju pointed out a new trend emerging within the Web3 space: a stablecoin-driven ecosystem. He likens this evolution to how RPGs are distinct from FPSs in the gaming world.

MemeCoins Dominate, Altcoins Lack Strong Fundamentals

Ju believes that this stablecoin-driven Web3 ecosystem represents the future of cryptocurrency, particularly for analytical investors. He predicts that this shift will bring new opportunities for finding alpha through on-chain data as stablecoins begin to play a central role in the development of Web3 applications.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.