In a constantly evolving crypto market, altcoins are often presented as innovative alternatives to Bitcoin and Ethereum. However, according to Alon Cohen, the co -founder of Pump.fun, the majority of them serve only one objective: to be the same. According to him, the cryptocurrency market is flooded with projects which, although they claim to provide innovations or technical solutions, in reality have no significant differentiation with the same.
Are altcoins only disguised same?
Pump.fun is a platform specializing in the launch and promotion of same, these cryptos inspired by viral trends and internet jokes. Its co -founder, Alon Cohen, says that most Altcoins have no real technical or economical utility. Instead, they mainly work as speculative instruments based on fashion effect and virality.
In addition, many altcoins emerge with promises to revolutionize various sectors, but basically they all look alike. They are often based on already established ideas or imitate projects that have had some success, but without real added value. In addition, investors no longer necessarily seek revolutionary projects. “People buy cryptos as they buy the same on the internet”, he explains.
Same: a disturbing crypto phenomenon?
The phenomenon of the same has grown with Dogecoin, which has become a model to follow for many new projects. Humor and internet culture are now used to attract investors, but also raises concerns about excessive speculation and volatility that follows. This approach could lead to a collapse of the Crypto market, where thousands of projects would disappear, leaving only a few winners.
In addition, many of these cryptos experience dazzling increases followed by vertiginous falls, leaving certain investors with heavy losses. Not to mention the increased risks of market manipulations and potential scams like Pump.Fun, recently accused of promoting Ponzi.
The era of altcoins could therefore be marked by a large number of ephemeral projects that only play on the fashion effect, rather than contributing to the evolution of the ecosystem, as Ethereum does. Investing judiciously and seeking projects with real added value, then becomes essential in this constantly evolving landscape.
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