Polygon Cofounder Not Happy With Pepe Coin Frenzy

Crypto Market News: Sandeep Nailwal, the co-founder of Polygon, expressed his disappointment over the lack of high quality applications built on the blockchain space. He made the bearish comment over the lack of high quality and high user presence in blockchain based applications, in the context of expanding the web 3.0 further into the mainstream world. Acknowledging the power of layer blockchains Bitcoin and Ethereum, he said the craze around memecoins will not help the market’s bigger cause.
Also Read: PEPE Coin Mimicks Shiba Inu Pattern; Which Memecoin Will Gain Upper Hand?
Speaking about the recent craze around memecoins like the Pepe Coin, Nailwal said the constant demand for memecoins is not a good sign for the industry. This is not a good sign for the crypto market in the eyes of investors and regulators.
Sandeep Nailwal Disappointed With PEPE Coin Rise
Speaking about the recent rise in demand for memecoins, the Polygon cofounder said memecoins don’t help the bigger cause, when asked about PEPE during a Twitter space. He, however, acknowledged that there was no doubt that Bitcoin and Ethereum are the bellwethers of the crypto industry.
“Not a good sign for crypto that institutions and investors see the rise of memecoins. Sad that memecoins keep coming and is not a good sign for the market in the eyes of investors and regulators.”
Nailwal also made a comment about the development space in blockchain. He said he was bearish about it as there are no real high quality applications in the blockchain space. Ideally, the applications should have capacity to handle 50 to 100 million users, he added.
Also Read: Solana Mobile Phone Saga Takes Next Step, Opens Access to the Public
- Just In: DeFi Dev Corp Launches Japan’s First Solana Treasury Company, SOL Price Reacts
- Pi Network Mainnet to Get Major Upgrade in Q4, Says Expert
- Bitwise Solana ETF to Launch This Week as It Amends Staking, Fees? Bloomberg Weighs In
- Canary Capital Trump Coin ETF Secures DTCC Listing as Expert Predicts Price Breakout
- Polymarket Founder Shayne Coplan Teases Potential POLY Token After $2B ICE Deal
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone