“Leading memecoins have lost momentum, while DeFi tokens are showing stronger growth. This is evidenced by the dynamics of the relevant indices, writes The Block. Weekly dynamics of The Block indices. Source: The Block. Over the last week, the GMMEME indicator, which characterizes the dynamics of the top 30 meme-coins, decreased by 0.95%. The index has been trading in the 470-535 range for the past two weeks with a failed attempt to break out of the range higher on November 23 when it hit an ATH of 571.87 […]”, — write: businessua.com.ua
Leading memecoins have lost momentum, while DeFi tokens are showing stronger growth. This is evidenced by the dynamics of the relevant indices, writes The Block.
weekly dynamics of The Block indexes. Source: The Block.
Over the last week, the GMMEME indicator, which characterizes the dynamics of the top 30 meme-coins, decreased by 0.95%.
The last two weeks the index fluctuates in the range of 470-535 points with an unsuccessful attempt to break out of the range upwards on November 23, when it reached ATH in 571.87 p.
Source: The Block.
Ming Chong of Presto Research pointed to the “overheating” of the sector.
“Listings on exchanges led to a spike in token prices in mid-November, and then to growing investor fatigue from controversy, including Pump.fun,” the expert explained.
Chong noted the rotation of capital into small-cap tokens and AI projects.
Founder, CEO and CIO Defiance Capital’s Arthur Chong pointed to a resurgence of interest in ETH and DeFi protocols. Revenues in the segment can go by closing positions in meme coins, the expert suggested.
The catalyst was the victory of Donald Trump and growing hopes for an improved regulatory environment.
Chong called the current trend a “broader turn” to the fundamentals. The analyst linked the interest in DeFi to the expected rate reduction cycle in TradFi.
It will be recalled that the candidate for the position of “crypto king” Christopher Giancarlo reminded that providing citizens with a guarantee for the opportunity to have their own wallets and the adoption of new rules and regulations CFTC and SEC were included in the list of Trump’s targets.
Previously, Solana’s monthly DEX turnover exceeded $100 billion on the back of Pump.fun’s record monthly fees.
The source