The cryptocurrency market saw significant capital shifts last week, with memecoins and Layer 2 solutions experiencing notable gains. Memecoins surged by 16.0%, while Layer 2s increased by 9.7%. In contrast, Solana, DePIN, and Real World Assets (RWAs) faced declines of 10.5%, 7.1%, and 7.0%, respectively. Bitcoin also saw a decrease, dropping 2.3%.
In broader financial markets, both the Nasdaq 100 and S&P 500 closed lower. Meanwhile, the market for tokenized assets reached $300 billion in stablecoins and $17.4 billion in private credit. Additionally, Fogo, a new blockchain known for its ultra-low latency with 40ms block times and sub-second finality, is gaining attention. The fear and greed index continues to serve as a crucial indicator of market sentiment amid these shifts.
Memecoins and Layer 2s Surge as Solana and DePIN Decline
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