Tether USDt

USDC

<ul><li>Unpredictable memecoins eclipse stablecoin gas usage, signaling fervent speculative trading.</li><li>Unconventional memecoin frenzy reshapes trading dynamics, luring risk-takers with volatile gains.</li><li>Memecoin Surge Unveils Crypto&#39;s Unconventional Side, drawing attention to internet-driven value and speculative fervor.</li></ul>In an unexpected turn of events, several #memecoins have taken the crypto market by storm, surpassing major stablecoins like USDT and USDC in terms of gas consumption. This surge in gas usage, as reported by Santiment metrics, highlights a rare occurrence that often accompanies speculative trading within the cryptocurrency realm.In an intriguing turn, Santiment a crypto analytic firm, reveals unusual gas consumption trends among #memecoins, potentially tied to speculative trading.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/c1679410223c4a9aa71b485f502408e2.png" />The Santiment team, renowned for their comprehensive tracking of fee distributions among various assets, recently <a href="https://insights.santiment.net/read/the-market-rektangle-7364?utm_source&#61;twitter&amp;utm_medium&#61;post&amp;utm_campaign&#61;twitter_the_market_rektangle_insight_santrends_082823/&amp;fpr&#61;twitter" rel="noopener noreferrer nofollow">unveiled</a> a fascinating insight into the world of crypto trading. According to their data, a number of memecoins, known for their quirky origins and often unpredictable value fluctuations, have managed to outpace the gas consumption of stablecoins.This peculiar phenomenon occurs when traders engage in speculative activities, driven by the allure of quick profits and the excitement of volatile price movements. The memecoin sector, characterized by its playful nature and occasional meme-driven rallies, has become a hotbed for such trading behaviors.While stablecoins like USDT and USDC are typically utilized for their stability and pegged value, memecoins operate in a completely different arena. Their value often hinges on internet trends, social media buzz, and the enthusiasm of online communities, making them particularly appealing to risk-tolerant traders seeking high-reward opportunities.Read full article at <a href="https://cryptotale.org/unusual-surge-in-gas-consumption-by-memecoins-signals-speculative-trading/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Unusual Surge in Gas Consumption by Memecoins Signals Speculative Trading

CryptoTale

Other articles published on Aug 29, 2023

Opinion: Bad timing leads to speculation on CoinDesk retractions

Robinhood Emerges as the Third-Largest Bitcoin Holder

Investors Hedge Against Bitcoin’s Bearish Trend with This Promising AI Altcoin Project

Argo Blockchain Successfully Decreases 2022 Debt to $75 Million – Here's the Latest

Bitcoin (BTC) Price Analysis for August 29

Theta Network Price Prediction 2023-2030: Will THETA Price Hit $1.5 Soon?

Join our free newsletter for daily crypto updates!