Speculative crypto memecoins are interesting to the masses, which are a windfall for decentralized exchanges, says Kain Warwick.
Memecoin trading can be hugely valuable to decentralized exchanges as it can attract flows from a mass of non-traditional DeFi traders, says Synthetix founder Kain Warwick.
“There’s an argument that memecoins are pure speculation, in my view speculation is good. It’s valuable,” Warwick told Cointelegraph at MemeGlobal Sydney.his “on-chain gateway” platform Infinex this month — explained that “out of memecoin trading, you get DEX volume and then DEXs have to respond and build better tools.”
“Even if the investment is in a purely speculative instrument that has no utility, the ecosystem around it starts to form and that money flows through and the investment flows through into infrastructure, which I think is good.” Memecoin trading has surged in the last two months. The bulk of trading happens on DEXs as token creation tools like pump.fun makes them easy and cheap to launch — the majorityfor March reached a nearly two-and-a-half-year high of $267.9 billion — just below the $292 billion November 2021 record at the peak of the last market cycle,April figures saw $196 billion in DEX volumes — a 26.8% drop from March but still the seventh-strongest month overall.
“Financial engineering is not that interesting,” he added. “There’s just not that many people that find it deeply interesting.”Warwick said that while finance is “impactful to everyone” it’s not something people think about every day — “the average person doesn’t care.”“I think memes are maybe the most simplistic connection between financialization and tokenization of everything, and culture.”“There is something elegant in the simplicity of it,” Warwick said.
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