Technical Director (CTO) of a16z crypto Eddie Lazarin spoke negatively about the memcoin sector.
Besides undermining the long-term vision of crypto that has kept so many of us in the space, memecoins aren't very technically interesting.
It shouldn't be a surprise that they're not attractive to builders.
— Eddy Lazzarin 🟠🔭 (@eddylazzarin) April 24, 2024
User X (formerly Twitter) under the pseudonym mhdempsey stated that “memecoins are driving an exodus of crypto developers to a degree more extreme than the bear market of the last few years.” Lazarin agreed with his statement:
6thManVentures Representative answeredthat memcoins are very interesting for users, as evidenced by the extremely wide adoption and use in many networks, including Base, Blast, Solana and others.
Eddie Lazarin also replied to him:
Cointelegraph published a report in which they stated that 17% of new memecoins on the Base network are associated with fraud, and 91% of projects have vulnerabilities.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
