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Yaki
@Yaki_fomoArt
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All day degen plays. My view scopes profit DM: https://t.co/z0S2oEXWTV Degen life: https://t.co/UWS6r67fJ1
Joined December 2017
@Kaffchad @cz_binance @four_meme_ I think BNB chain can keep that 2nd place if Cz fully support with new narrative on the chain. If not, they will loose quick from Sol and Base
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People are FOMOing into memecoins on BNB Chain! Trading volume and new addresses on BNB have surged impressively today. However, $TST and $CHEEMS are still following the trend of recently listed coins on Binance. Both have dropped nearly 50% within just a few hours of listing. Is this just a pullback, or is the lifespan of this trend really that short? Imo, I donât think BNB can sustain traction and hold capital long-term, since it hasnât introduced much innovation in years. Binance feels more like an exit liquidity pool for this cycle.
TST got listed on Binance. A few thoughts: 1. CZ said âfundamentalsâ, then talks about a test coin turned meme coin. I posted to clarify that TST was NOT endorsed by me/us. It was just a test token used in a video tutorial. But every clarification post just made it more viral for whatever reason. đ 2. Is CZ shifting away from fundamentals? No. I am a builder. I always focus on fundamentals. 3. Is CZ âintoâ meme coins now? It depends on your definition of âinto,â I havenât bought a single meme coin so far. 4. Then, is CZ against meme coins? No. Not âintoâ something doesnât mean I am against it. I am not into sports cars; I donât collect art; I havenât bought any NFTs; I also havenât bought most altcoins (I hold BTC and BNB). But I am not against any of the above. And I think most of youâd agree, that I have worked hard and "gone to some lengths" to help many altcoins and the crypto industry in general. I adopt the same view towards meme coins. 5. Why did TST get listed on Binance? I donât know for sure. I am entirely NOT involved in their listing process. Based on historical experience, people always complain, âWhy do you list this but not the coin I hold?â You might not like to hear this, but the truth is: exchanges must compete to list popular coins (with trading volume) as early as possible. If your coin is actively sought after by traders, you donât need to talk to exchanges. As I always say, work on your project, not the exchanges. 6. Why do people buy memes instead of utility tokens? I donât know, but I will go on a limb and make a few speculations (pun intended). 6.1 During the last four years, a powerful regulatory agency sued almost anyone with any utility token, falsely claiming they are securities. So, people started to launch memes. 6.2 There are groups of traders known as speculators. Things with clear tangible value are harder to speculate on. They stay around the clear value. This is indeed a challenge for RWA. For example, a building whose value doesnât fluctuate much may not have a lot of trading activity. Then, it wonât have much liquidity, and the order book becomes thin, then even less trading activity, a vicious cycle. 6.3 Memes are fun, etc. Itâs a cultural thing. I am not an expert in this area. There are plenty of die-hard defenders of memes. Donât go against the community. 7. Lastly, itâs clear there are lots of money ready to invest in the market. Lots of opportunities. You need to build things people want. Happy building and happy memeing! And manage your risks. đ«Ą
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