Solana Founder Pushes to Stop Pre-Sales of Memecoins
Journalist
- More than 655,000 SOL coins were sold in 27 presale campaigns.
- The crypto community is divided by these pre-sales.
Solana [SOL] co-founder Anatoly Ykovenko warned users against sending money to pre-sales of memecoins, which have exploded in recent days, creating multi-million dollar assets out of thin air.
Yakovenko responded to a post on X by ZachXBT that highlighted the heavy investment that went into sourcing Solana meme coins.
SOL raises millions of dollars
More than 655,000 SOLs worth $107 million were raised in 27 pre-sale campaigns. Decadent was the largest fundraiser, receiving nearly 170,000 SOLs for seeding the SMOLE token.
Presale Slerf [SLERF] The creator received 54,583 SOLs for BOOK OF THE MEME [BOME]Recently, whose market value rose to $1 billion, he collected 10,132 SOL coins.
The Sticking Point
These coins are a product of the latest crypto fad, fueled in part by the recent bull market in “established” meme coins.
The crypto community is divided by these pre-sales, with critics questioning their rationale. A user using the pseudonym pRHO posted on X.
This ruins what our beloved chain should be about. We have supported builders throughout the bear market. Now that spirit has been eclipsed by the idea of sending money to any address.
Ki Young Ju (CEO of CryptoQuant) also described the growth of these assets as “frustrating.” He said such developments overshadowed the hard work of the teams that developed legitimate products to advance the industry.
However, many users strongly disagreed with this view, putting forward the argument that financial freedom is the foundation on which the Web3 industry stands, or at least claims to stand on it.
What is the current value of 1,10,100 SOLs?
Modified Price History:
As the parties argue, traders continue to make and lose money on these tokens. CoinMarketCap reports that BOME recovered from a 50% decline to gain 24% in the last 24 hours. SLERF was affected by a bug. The SLERF fell 25%.
SOL, meanwhile, fell to fifth place in the list of top cryptos based on market capital after an 8.5% decline.
