Memecoins, collectively worth tens of billions of dollars in market cap, are unpopular among some builders in the crypto space.
The Chief Technical Officer at one of the biggest and most influential venture capital firms active in the crypto and blockchain space wasn't pulling any punches when he decided to publicly criticize memecoins.
It appears Lazzarin initially criticized memecoins in response to another post that suggested memecoins have been a source of intense frustration among builders in the crypto space. While memecoin popularity may be aggravating for some, it doesn't appear they are going anywhere anytime soon, with the top memecoins cumulatively accounting for tens of billions of dollars in market capitalization, according to CoinGecko. Dogecoin, which is often championed by Elon Musk, owner of X and CEO of Tesla, is the most popular by market cap, worth more than $20 billion, also according to CoinGecko.
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