Franklin Templeton's Digital Assets arm, FTI_DA, releases a paper stating that memecoins like $BONK have a strong relationship with their native networks, particularly Solana. The firm notes that memecoins lack intrinsic value or utility but could offer opportunities for rapid gains. Despite this, memecoins display a strong correlation with the growth of user wallets on underlying blockchains, according to FTI_DA. The rise in memecoin trading activity coincides with an increase in active addresses on various blockchain networks, as reported by Franklin Templeton's Digital Assets team.
Memecoins 1) are incredibly stupid 2) distract attention and capital from actual innovation in the space 3) further stigmatize the space 4) give anti-crypto legislators more ammo to clamp down on the space in the name of investor protection. But gamble away degens.
NEW: Just weeks after donning laser eyes on their profile picture in honor of issuing a #Bitcoin ETF, Franklin Templeton releases report on meme coins that “have no inherent value or utility” 👀😮 https://t.co/txcT9rpAc3
"memecoins are a net negative for the industry" https://t.co/bo1yK7CZn6
HERE’S WHY MEMECOINS PUMP ACCORDING TO THE $1.5 TRILLION FRANKLIN TEMPLETON - Financial giant Franklin Templeton, which also issues its own spot $BTC ETF, has explained that, although memecoins lack any underlying value or utility… - … Their price appreciation doesn’t seem to… https://t.co/6E3iTncKJb https://t.co/Lg7PT9XhSN
MEMECOINS EXHIBIT CORRELATION TO NETWORK GROWTH: FRANKLIN TEMPLETON The rise in memecoin trading activity has coincided with an increase in active addresses on various blockchain networks, according to a report by Franklin Templeton’s Digital Assets team. Despite lacking… https://t.co/pmyq8UXR5X
🚨JUST IN: MEMECOIN PRICE CORRELATES STRONGLY WITH ACTIVITY ON THEIR L1 NETWORKS ~ FRANKLIN TEMPLETON
Meme coins display a “strong relationship” between their price surges and the growth of user wallets on underlying blockchains, despite having no inherent value proposition, @FTI_DA said. By @shauryamalwa. https://t.co/4Nii05AY0g
📣 Latest News: Franklin Templeton goes ‘full degen' with investor note on memecoins #news #cryptonews #crypto
UPDATE: MEMECOINS LACK INTRINSIC VALUE OR UTILITY, BUT COULD OFFER OPPORTUNITIES FOR RAPID GAINS - FRANKLIN TEMPLETON IN A RECENT INVESTOR NOTE ON MEMECOINS
Franklin Templeton writing research reports about memecoins Look, all you guys need to understand is that crypto is the bell curve meme personified Once you truly understand this, all you have to do is pick a side (hint: it’s easier to get dumber than smarter) Alpha leaked. https://t.co/tiYLpip88n
Meme coins have 'strong relationship' with native networks like Solana: Franklin Templeton https://t.co/W8NW9c8vzT
NEW: @FTI_DA (@FTI_US DIGITAL ASSETS ARM) DROPS MEMECOIN PAPER - STATES THAT MEMECOINS HAVE A STRONG RELATIONSHIP WITH THEIR NATIVE NETWORKS - NAME-DROPS @solana-BASED $BONK (@bonk_inu) https://t.co/5o3S7sNpu0