# Your Dad Will Love Memecoins

*Author: Bankless*
*Published: Oct 31, 2024*
*Source: https://www.bankless.com/es/your-dad-will-love-memecoins*

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Your Dad Will Love Memecoins
    
  

  
  Published on Oct 31, 2024 🎃

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
COIN & HOOD Fall
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/10/Group-14---2024-10-31T153155.534.png)](https://www.bankless.com/dashboard)- **↘️ Robinhood and Coinbase Fall After Earnings Misses.** After [rough releases](https://www.bankless.com/robinhood-and-coinbase-fall-after-earnings-misses), Coinbase is down 13%. Robinhood has fallen 16%.
- **🌴 Florida Holds Over $800M in Crypto-Related Investments.** Florida's CFO has also requested that BTC be [considered](https://www.bankless.com/florida-holds-over-800-million-in-crypto-related-investments) for state pension fund investments.
- 💰 **Securitize Tops $1B in Tokenized Assets.** Tokenization company Securitize [crosses the $1 billion milestone](https://www.bankless.com/securitize-tops-1b) as it pushes to bring more institutions onchain.

.  .  .

 
  
    
      
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    MARKET VIBES

  
  

Spooky Retreat
  
   
     
   
     
    
 

**📸 Daily Market Snapshot: **Wall Street tumbled Thursday after earnings releases from tech giants led to sell-offs across the S&P 500 and Nasdaq Composite. Bearishness also struck recently exuberant crypto markets, taking BTC back to $70K while ETH dropped more than 5%.

Prices as of 4pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $2.35T
       

  
    
    ↘ 2.9%
    
  

   
    
    ↗ 3.1%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $70,389
       

  
    
    ↘ 2.1%
    
  

   
    
    ↗ 3.3%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $2,524
       

  
    
    ↘ 5.2%
  

   
    
    ↘ 0.6%
  

  

.  .  .

 
  
    

OPINION

  
  
    
Your Dad Will Love Memecoins
  
  
   
     
     Bankless Author: 
     
       [
       
        Jun](https://www.bankless.com/author/arjun)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/10/image---2024-10-31T152020.613.png)](https://www.bankless.com/memecoins-bring-parents-onchain)Every bull run has a bait that pulls people in — something that hints at big, asymmetric returns. In the early days, it was Bitcoin. Then came ICOs, DeFi, and NFTs — each cycle’s breakout success, tempting people with outsized returns that would leave any traditional investment in the dust.

**This time, it’s memecoins.**

Memecoins offer the same kind of asymmetry as past cycles: small stakes that could explode into something big. They don’t often fit the purist’s vision of what crypto “should” be, but their raw appeal is undeniable. Memecoins have that same magnetic pull that brings people onchain, hoping to ‘make it’ in the new cycle.

Now, let’s be clear: *this isn’t a call to invest in memecoins*. These tokens are risky, lacking in fundamentals, and more about the attention economy than any intrinsic value — the value can disappear just as fast as it appears.

*And yet, in this cycle, memecoins may just be the entry point that brings new people to crypto, the way NFTs did last time. So, while they may be volatile and a game of musical chairs, memecoins are undeniably a part of this cycle’s story *👇

[Read More on Bankless.com](https://www.bankless.com/memecoins-bring-parents-onchain)
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