Arthur Hayes and Raoul Pal See Value in Meme Tokens

One should exercise caution before dismissing meme coins as “silly,” as they may benefit blockchain ecosystems by attracting new users and developers. This was stated by former BitMEX CEO Arthur Hayes in an interview with former Goldman Sachs executive and macro investor Raoul Pal.

In his view, Ethereum and Solana are the most suitable protocols for capturing the attention flow from memes.

“Blockchains that can support this culture will have value,” Hayes noted.

Pal believes that meme coins are likely to become even more popular among young crypto investors due to the “gaming mentality” inherent in Generation Z and Millennials.

“[Investing in meme coins] is the same, just playing with money,” he clarified.

Both interlocutors acknowledged the “countless” risks associated with such assets. They also emphasized that the hype around meme tokens will persist for some time.

According to CoinGecko, the meme cryptocurrency index has risen by nearly 15% over the past week. The total capitalization of the sector reached $68.8 billion.

One of the strongest assets remains dogwifhat (WIF) based on Solana, which has gained 57% over seven days.

Earlier, Ethereum co-founder Vitalik Buterin suggested endowing meme tokens with new qualities. He considered their use in two areas—charity and gaming.

Head of Research at Messari, Martje Bäs, acknowledged that meme cryptocurrencies will remain an important part of the crypto industry, noting their role in the adoption of digital assets.

Back in March, CryptoQuant founder and CEO Ki Young Ju expressed concern over the boom in the segment. In his view, meme tokens harm the crypto industry.