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Franklin Templeton: Although memecoins lack intrinsic value, there is a strong correlation between their price surge and blockchain user wallet growth

Franklin Templeton: Although memecoins lack intrinsic value, there is a strong correlation between their price surge and blockchain user wallet growth

Cointime2024/03/17 01:46
By: Cointime
SOL-2.05%AVAX-2.38%BONK-3.16%

The digital asset team of Franklin Templeton stated that although meme coins lack intrinsic value propositions, there is a strong correlation between their price spikes and the growth of user wallets on underlying blockchains.It is reported that meme coins may offer "opportunities for investors to quickly profit" and have gained viral spread in the past year "due to their unique nature."As meme coin trading activity increases, active addresses on various blockchain networks also increase, including BONK on Solana and the Avalanche Foundation's recognition of meme coin value.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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