The Cryptocurrency trader, popularly known as “Ansem,” expressed that he has learned to be more selective about celebrity-endorsed memecoins.
On stage at Messari Inc’s annual cryptocurrency conference, “Mainnet 2024,” on Tuesday, crypto ecosystem influencer “Ansem” expressed that he has “cautiously approached” the recent trend of celebrity-themed tokens in a manner differently, after the controversy over apparent “Rug Pulls,” which harmed thousands of retail traders.
«One thing I have to get used to is that anything that is even remotely related or associated with me will be taken as an endorsement. This, because I have thousands of fans online. Ansem said, during an informal chat with Debra Nita, global assistant director of “YAP Global”.
It is worth noting that memecoins have had a year of strong growth, particularly after the January debut of the “Pump.fun” platform on Solana. This popular platform facilitates the launch of tokens and on it, any user can create a memecoin for only $2 dollars.
In addition, celebrity participation on Web3 has also begun to increase as the price of Bitcoin and other cryptocurrencies continues to rise.
However, even though some praise the presence of familiar faces from the sports, music and entertainment industries as a way to attract people to the fold, a large percentage of celebrity-backed cryptocurrency projects have been affected.
For reference, the American rapper’s team “Sexyy Red” reportedly owned 90% of the supply of the “PRESI” token at launch. On the other hand, the “JENNER” token, which Caitlyn Jenner promised to promote, has also fallen 99% from its all-time high.
Blockchain-de-capa-1″>Ansem is committed to the future of Memecoins and Layer 1 Blockchains
On the other hand, after the announcement in
I’ve been working on @BullpenFi with @salxyz in stealth for 6 months now, have been in crypto since 2017 but never done anything more outside of trading, & schizo-tweeting on this app.
Bullpen is one of the ways that I feel I can leverage my platform to provide value back to… https://t.co/zd2GVV7QGN
— Ansem 🐂🀄️ (@blknoiz06) June 10, 2024
“I think Ansem has expanded the scope of its interests, going beyond memecoins and celebrity tokens, to projects that will have a major impact on the industry.” Debra Nita expressed in the interview.
Furthermore, according to Ansem, even though memecoins are considered a joke, they really are a “powerful tool for decentralized finance.”
«One of the reasons this particular cycle has worked well in memecoins is that Solana has allowed retailers to trade with very small amounts of money. Furthermore, the user experience for people trading on the Solana Blockchain is much better and cheaper than on other networks.” Ansem pointed out.
However, although some experts have pointed out that memecoins have begun to lose strength, Ansem indicated that the sector will continue to grow.
«Since they saw the rise of tokens like DOGE, people already had it in their heads that memecoins were going to reach that level. Therefore, it is not really that difficult for people to have the same mentality towards other memecoins. Ansem said.
It should be noted that Ansem expressed several times at the conference that memecoins are the main trend in the new Layer 1 Blockchain networks. This is because a large part of memecoin holders will look for ways to spend their funds, creating new opportunities. in the crypto space.
Furthermore, Ansem indicated that he is particularly interested in emerging Blockchains such as “Monad, Berachain, Movement”, and “Alt-VMs” such as “Move-VM” and “SVM” from Solana.
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