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After a series of high -level collapses and bad press in 2022, the crypto was largely felt like its own market sector from which the rest of the world of technology kept a cautious distance. With a EvenCoin-Markising President Trump is now in office, it seems to change: technicians like the same.
Since Trump came to the office, several more common technological players have launched or approved even – some of which have seen major price flaps, such as the Trump token. This is perhaps a sign that animal spirits are back in crypto and that technological players want a seat at the table, the crops past are damned.
Last night, the co-founder of Venmo, Iqram Magdon-Ismail, launched a token for its new startup, a kind of tiktok-meet-facetime application called Jellyjelly. The token was launched on the Launchpad Solana Memecoin pump and quickly ran to more than $ 230 million in market capitalization. Less than a day later, he crashed at less than $ 100 million in market capitalization.
Magdon-Isail said Today on a podcast that one of Solana’s co-founders sent him a text expressing his excitement about the launch, and he was also in talks with someone in the Solana Foundation.
Sam Lessin, general partner of Slow Ventures, who invested in Venmo and Solana, then poster A clip of himself walking poetic about how money is only a form of communication, and the same is the expression from a point of view. Lessin promoted the same on his X account, and it is not clear how many token he has, if necessary.
The saga occurred shortly after a co-founder of the deceased video sharing application, Vine, launched her own same, who also saw her market capitalization before withdrawal. Nikita Bier, an entrepreneur who launched several viral applications on social networks, published and then removed a meme saying that he would also launch a same.
The new Silicon Valley’s same apologists tend to talk about such tokens using terms like “fun” and “community”, but everyone does not think that even a capital training tool will prove to be good omen For startups.
“I do not think that startups launching mecoins will earn a real traction over a reasonable duration,” said Dragonfly’s general partner Rob Hadick. He cited the dilution of attention, the negative feeling that investors receive from the loss of money and the significant regulatory risk as notes against startup parts.
People in crypto and technology tend to “react excessively to short -term market dynamics. We saw a very similar speech on the NFT in 2021, which turned out to be almost entirely bad, “said Hadick.
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