The Next Crypto Market Cycle: Dapps and Meme-based Cryptos
Former Binance VP Xin Jiang believes that the next surge in the crypto market will be driven by decentralized applications (dapps) on popular social platforms and meme-based cryptocurrencies. According to him, the existing infrastructure, such as Solana, Ethereum layer-2 rollups, and interoperability protocols like Cosmos and Polkadot, is sufficient to sustain the industry until the next market peak.
Jiang suggests that developers should focus on creating innovative dapp projects that tap into the massive user bases of platforms like Twitter and Telegram. For instance, he mentions Friends with Benefits, a token-based system on Twitter, and Unibots, a Telegram trading bot. These projects utilize blockchain tokens and decentralized features to incentivize users and drive community growth.
Furthermore, Jiang emphasizes the potential of meme-based cryptocurrencies, like Dogecoin and Shiba Inu. He points out that while these coins gained popularity during the last bull market, they currently lack associated products and services. Jiang advises crypto builders to acquire users from Twitter and Telegram, implement effective token economics, and leverage their expertise in community-building to drive growth in this space.
Hot Take:
The future of the crypto market lies in the hands of dapps on mainstream social platforms and meme-based cryptos. By tapping into existing user bases and leveraging the power of blockchain technology, these projects have the potential to revolutionize the way we interact with cryptocurrencies and drive further adoption in the industry.
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