6 out of top 13 memecoins now on Solana – Here’s why it matters – BitRss

• Solana memecoins are leveraging their underlying technology to shift from a hype-based perception to one focused on utility
• This shift gives them a unique identity over other alternative assets

Since their inception, memecoins have evolved into a distinct asset class, shedding their reputation as highly volatile tokens. 

Among the various blockchains hosting these assets, Solana-based memecoins have gained significant traction. In fact, 6 out of the 13 top memecoins by market cap are based on the Solana network.

Reiterating this, Solana’s co-founder Anatoly Yakovenko recently credited memecoins for enriching Solana’s bandwidth. This has helped push it to compete against its biggest rival, Ethereum, across various metrics.

And yet, the last 24 hours haven’t been favorable for the memecoin community. Altcoins have recently captured the spotlight, reigniting concerns over the volatility of memecoins and their lack of real-world applications.

This has once again brought the debate of their long-term value into focus.

Can Solana …