⚡Dynamo DeFi Pro - 06/20/24
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💡Dynamo’s Thoughts
Where This is All Going
Recently, the crypto space has been weird, to say the least.
On the one hand, week by week, more institutions and governments get onboard with the onchain and tokenized future.
On the other hand, this bull run crypto seems to have attracted a critically high concentration of scammers, grifters, and rugpullers.
Even celebrities from outside of crypto have gotten in on the game, with names like Caitlyn Jenner, Iggy Azalea, and Hulk Hogan becoming affiliated with tokens.
The result is that even some longtime crypto supporters have started to express concerns about the space’s reputation.
The sentiment is completely understandable: crypto has always attracted an unconventional crowd, but recent product launches like pump.fun have made it easier than ever for anyone to launch a token, removing the last barriers to entry. This, along with improved wallets and a liquidity infusion from this year’s price gains, has resulted in an unprecedented surge in memecoins. This year saw more crypto tokens launched than all previous years combined.
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