Trump commemorates countless winners of Frenzy
“If you break it down, there are a lot of mobile components in the backend that people don’t necessarily recognize,” said Anurag Arjun, co-founder of Crypto Infrastructure Startup overy ovaly and Polygon, a crypto network that quickly handles a lot of transactions. .
Until the second half of 2023, when the first impressions of Memecoin Frenzy began to be displayed, Solana was a relatively ghost town. There are hardly anyone using the network, and the services it has to be built on it can be stored on scrap. Apart from financial speculation, there are still few SOLANA-based applications built for purposes. “The joke about Solana Development is like chewing glass,” Tom said. “It can be hard.”
Memecoins has been previously ridiculed as no doubt, so it can cause damage to the cryptocurrency industry when struggling for effectiveness. In particular, Trump coins have been completely criticized as “making money.” However, the arrival of coins like Trump may have a more extensive second-order advantage on crypto networks, creating a flywheel effect, allowing Memecoin Gamblers to attract developers eager to build other applications for their use . Once people have Solana wallets, the theory will show that they are more likely to interact with various SOLANA-based applications, whether it is a social platform, game or music service, thus achieving a lasting growth in network activity.
“Many app teams will target these new users,” Arjun said. “The meme is an example of what can be run on this infrastructure.”
Experts say the implications of Trump’s launch towards the U.S. government’s attitude toward cryptocurrencies are also important. The industry has long complained about the lack of any clear rules regarding issuing new coins in the United States; given its presidential irrationality, Trump's launch could be interpreted as a tacit license.
“This will create a ruling that will boil down to all the different institutions: the United States is embracing cryptocurrency.” I think we'll see (many) celebrity members.”
Like Trump’s launch, Solana Memecoin’s supply chain exchanges and other components are primarily earnings, not traders.
“Trading Trump adults is like betting on roulette. Betting on Solana itself is like betting on the entire casino,” Hayes said. “When the volume is higher, we will definitely see (the exchange) doing a good job.”
While Raydium may profit from any potential flywheel effect arising from Memecoin Frenzy and the U.S. embrace of cryptocurrencies, Tom finds himself in conflict with Trump.
“Raydium’s business is to promote quantity. We are trying to take a very agnostic approach to the availability of tokens on the platform,” he said. “Having the most powerful person in the world chooses Solana to launch its own members, whatever the excuses, shows where Solana is now.”
But for an industry that has been struggling to get past stains for a long time, the amount of direct sugar Trump fired may not deserve the negative attention caused because the coin attracts any losses caused by regular investors, Tom said.
“For half a decade of working in this field, I've been insisting on trying to move the narrative out of the default settings: a lot of dirty and evil activity happening in cryptocurrencies,” Tom said. “I'm very aware of it.” This reputation.”
Two days after Trump started trading, First Lady Melania Trump launched his own membership. Its critics expressed concerns related to so-called conflicts of interest.
The White House did not respond to a request for comment. Requests sent to the emails listed on Melania Memecoin on the website were not answered.
The day Trump launched was exciting, but now Tom is frustrated. “I was like: It didn't feel as good as yesterday,” he said. “I definitely didn't buy any Melania.”