Emin Gün Sirer believes memecoins have become an entertaining entry point for crypto-curious newcomers but remain risky investments.
Love them or hate them, memecoins are all the rage in 2024. Despite the inherent risks of aping a new coin, Avalanche founder Emin Gün Sirer believes they are bringing value and new users into the cryptocurrency ecosystem.
Speaking exclusively to Cointelegraph report Ezra Reguerra at Token2049 in Dubai, Gün Sirer weighed up the benefits and drawbacks of the rise of memecoins across several blockchain protocols. From Bitcoin, Ethereum, Solana to Avalanche, memecoins have made fortunes and ruined portfolios in recent months.
“They’re great for the space because they bring people in, they keep them excited, occupied and concentrated on what the technology can do,” Gün Sirer said.