Sandeep Nailwal, CEO of Polygon (MATIC), which is closely followed by the crypto money market, expressed his disappointment with the market in his recent statements! So what’s the reason for this? Here are the details…
The ‘disappointment’ criticism of the market from the founder of Polygon (MATIC) attracted the attention of investors!
cryptocoin.com Sandeep Nailwal, the founding partner of Polygon (MATIC), whose name we have mentioned many times before, criticized the market in his recent statements and described the latest situation of the market as a ‘disappointment’. Noting the lack of high-quality applications built in the blockchain space, the celebrity commented on the lack of high quality and high user activity in blockchain-based applications in the context of further expanding Web 3.0 to the mainstream world. However, accepting the power of blockchain platforms such as Bitcoin and Ethereum, the name made criticisms by stating that the recent meme coin trend will not take the market one step further.
Continuing his criticisms towards meme coins such as PEPE coin, the name drew attention to the buying frenzy in recent days. Nailwal stated that the continued demand for meme coins is not a good sign for the cryptocurrency industry. For the famous CEO, in the eyes of investors and regulators, this is not going to come back to investors as a good sign for the cryptocurrency industry. Commenting on the growing demand for memecoins, Nailwal told questions about PEPE in a Twitter Spaces speech that meme coins do not serve a greater purpose. However, the famous name stated that there is no doubt that BTC and ETH are the pioneers of the crypto industry. The words of the famous name are as follows:
Institutions and investors seeing the rise of memecoins is not a good sign for crypto. The fact that Memecoins keep coming is a pity, not a good sign for the market in the eyes of investors and regulators.
Following these comments, Nailwal also commented on the development in the blockchain field. He conveyed his negative comments about it, as there are not really high-quality applications in the blockchain space. On the other hand, the famous name added that ideally applications should have the capacity to handle 50 to 100 million users.
Analyst Benjamin Cowen: “Most meme coins on the rise will be forgotten in 8 months!”
On the other hand, Benjamin Cowen, one of the well-known analysts of the market, in a YouTube video he made to his 784,000 subscribers, states that the crypto money market may face a big event this year. The words of the famous name are as follows:
We see a lot of rallies before the halving, everyone gets excited but then the memecoins come back and then the market behaves like, ‘There’s still a lot of excess in the market, we have to screw these people up again…’.
We actually experienced something very similar in 2019. In 2019, many memecoins rallied. Take a look at them. Since then, many have bled against Bitcoin.
According to the analyst, a similar memecoin rally took place in the second quarter of 2019, but the analyst argues that most of the memecoins that rally instantly are a “scam”. The words of the analyst regarding the rallying meme coins are as follows:
I think most of the memecoins you see in circulation right now, after eight months, people will forget and not care.
