CryptoQuant CEO: It’s too early to say Memecoin is the end of cryptocurrency

Ki Young Ju, CEO of CryptoQuant, said in a post on X: "Historically, humans have formed communities by coordinating individual interests within the system. Entities like countries and companies have created systems like 'capitalism' and 'corporations' to unify individual and public interests in one direction. With the invention of the Internet, new interest coordination systems began to emerge. Global users began to form borderless online communities to coordinate their interests by sharing information about common goals. These online communities, which were originally just shared interests, evolved into financial interest groups with the emergence of cryptocurrencies. One of the most interesting phenomena in this field is Meme coin. People attracted by the excitement of online humor communities created what is known as Meme Cryptocurrencies are financial products that allow them to quantify the degree of public consensus on certain ideas in monetary form. The more consensus an idea has, the more money flows into the market. However, as some have observed, in the absence of actual value creation - without collaborative online work after the alignment of interests - people began to call cryptocurrencies casinos. For the crypto industry to create value, it needs to be the product of an online community working together with a common goal. What is the great and difficult task of coordinating the interests of global users on the Internet? I think it lies in the content industry. The Internet is ultimately just a means to quickly, transparently and efficiently share information - whether it is investment information, lifestyle tips, entertainment or games. If collaborative work is done together to create content, cryptocurrencies can be used to coordinate the interests of the community. For those who are launching crypto startups, it would be wise to think about what kind of project can unite 8 billion people across the entire Internet. It is too early to regard the entire crypto industry as a casino because of Meme Coin. I don't want to completely dismiss Meme Coin. However, it is too early to assert that it is the end of cryptocurrency. I hope the crypto industry will thrive. "