Meme Coins Linked With Its Underlying Network Growth: Franklin Templeton

The post Meme Coins Linked With Its Underlying Network Growth: Franklin Templeton appeared first on Coinpedia Fintech News

Franklin Templeton Digital Assets Team points out that despite lacking value, memecoins have a strong correlation between price surges and growth of wallets on underlying blockchains. Such tokens provide opportunities to make quick profits to the investors and get viral. The report found that active addresses on various blockchain networks grew in relation to meme coin trading activity. In the last year as well, multiple memecoins had surged, most notably Solana based BONK. Prominent meme tokens of the Ethereum and Solana ecosystems have been rallying since late February amidst a bitcoin rally.