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The Year in Memecoins
Published on Dec 23, 2024

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NEED TO KNOW
Trump Picks Crypto Chief
  1. 🇺🇸 Trump Picks 'Crypto Council' Leader. Trump has selected Bo Hines, who unsuccessfully ran for Congress in 2022, to lead a council promoting crypto innovation.
  2. 😬 CoinDesk Owner Fires Top Editors. CoinDesk's corporate owners abruptly fired its top three editors, including its editor-in-chief, after the owners unceremoniously pulled a negative article about Tron Tron founder Justin Sun.
  3. 🔴 MicroStrategy Buys 5K More Bitcoin. Despite a sudden dip in crypto prices, MicroStrategy continued its drive to buy more and more BTC, announcing a new purchase just as it entered the Nasdaq 100.
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MARKET VIBES
Aptos Aptos Crash

📸 Daily Market Snapshot: Altcoins bled out last week, with Stacks Stacks (STX) and Aptos (APT) leading the way – both losing one-third of their value in the past 7 days. The fall in the Aptos native token appears to be especially concerning as it follows the unexpected resignation of the project's leader, whose departure came just as the token was seeing one of its biggest pumps ever.

Prices as of 1pm ET 24hr 7d
Crypto $3.27T ↘ 2.6% ↘ 12.9%
BTC $93,264 ↘ 2.5% ↘ 12.8%
ETH $3,347 ↗ 0.7% ↘ 16.3%
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ANALYSIS
The Year in Memecoins
Bankless Author: David C.

Perhaps unsurprisingly, when we look back at the year, one token category outperformed all others — memecoins

Fueled initially by growing critique and disillusionment with token launches that entered the market at high fully diluted valuations, memecoins shone brightly in 2024. Drawn by their simpler narratives, (often) reduced insider allocations, and low-cost trading fees, many traders gravitated toward memecoins, making them a core pillar of crypto's 2024 growth.

Let's examine how memecoins gained this momentum, explore the role of Solana Solana and Pump.fun in accelerating their growth, discuss their evolution and implications on token value, and analyze their influence on AI agents in this evolving landscape 👇


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LATEST POD
Finding 1000x Assets

How do you spot the next asset that could 1000x? How do you find the next Bitcoin Bitcoin when it's still trading at $65?

For Dan Morehead, the answer lies in recognizing patterns most investors overlook. As the founder and CEO of Pantera Capital, Dan is no stranger to making bold, contrarian bets. His July 2013 investment letter, titled "Very Timely: We Should Buy Bitcoin Now at $65," is the stuff of legends. Over the following two years, Pantera accumulated nearly 2% of the world’s bitcoin supply. Fast forward to today, and the fund boasts a lifetime return of over 131,000%.

In our conversation with Dan, we unpack the journey that led him to Bitcoin in 2013.

Listen to the full episode 👇


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No es asesoramiento financiero ni fiscal. El contenido de Bankless es estrictamente educativo y no constituye asesoramiento de inversión ni una solicitud para comprar o vender activos ni para tomar decisiones financieras. Este boletín no es asesoría fiscal. Consulta a tu contador. Investiga por tu cuenta.

Divulgación. De vez en cuando podemos incluir enlaces en este boletín a productos que usamos. Podemos recibir comisión si realizas una compra a través de uno de estos enlaces. Además, el equipo de Bankless posee criptoactivos. Consulta nuestras divulgaciones aquí.

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