Solana

Base

Optimism

<h4>Crypto Twitter used to be fun AND full of Alpha, too. What the hell happened? It’s not just tough market conditions either. Because there was more optimism and fun in past bear markets than there is now.</h4> 
So something different and bigger is at work here. It seems like everyone hates crypto including those of us investing and working in the industry. What is going on? Today, we try to unravel this little enigma and see if there are potential long-term repercussions from what is happening or not. 
<h5>A Couple Of Potential Theories</h5> 
So what is going on? A couple of prominent Crypto Twitter accounts like <a href="https://x.com/iamDCinvestor/status/1810973394743042507" target="_blank" rel="noopener">DC Investor</a> and Crypto Cobie believe it’s nothing short of an infiltration. Feds to Sow Discontent? Is it Government-induced? And if so, which governments? They think the US Govt could be involved with bringing people in to try to rip Crypto Twitter apart to preserve the US Dollar. 
<img decoding="async" class="wp-image-146232 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvccvbvbn-300x291.jpg" alt="" width="505" height="490" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvccvbvbn-300x291.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvccvbvbn.jpg 389w" sizes="(max-width: 505px) 100vw, 505px"> 
<h6 style="text-align: center;">Source: <a href="https://x.com/iamDCinvestor/status/1810749170485187057" target="_blank" rel="noopener">X</a></h6> 
Some of the logic behind this is the same logic of why the Feds in the US are going after Coinbase and Uniswap. They are without question 2 of the most honest actors in the industry. There are so many doing far, far worse daily that they COULD go after, but they aren’t. So why? Maybe because these are 2 of the most visible platforms. Or maybe the Feds are just not smart about their targeting. But some think this. And not just crackpots. 
<img decoding="async" class="wp-image-146235 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cvbvcnvbhghjg-300x267.jpg" alt="" width="504" height="449" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cvbvcnvbhghjg-300x267.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cvbvcnvbhghjg.jpg 397w" sizes="(max-width: 504px) 100vw, 504px"> 
<h6 style="text-align: center;">Source: <a href="https://x.com/TuurDemeester/status/1614014976594792462" target="_blank" rel="noopener">X</a></h6> 
<ul> 
 <li> <h6>Use of AI Bots Across X</h6> </li> 
</ul> 
Another theory is the prevalence of AI bots.&nbsp; Of course, this isn’t something only Crypto Twitter has to deal with. But sadly, many of these bots are not trained for engagement or personalization. They just spout off nonsense, or worse. In some cases, they are programmed to get engagement through insults and disruption. 
<img decoding="async" class="wp-image-146236 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvfdggfdht-198x300.jpg" alt="" width="462" height="700" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvfdggfdht-198x300.jpg 198w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvfdggfdht-277x420.jpg 277w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvfdggfdht.jpg 399w" sizes="(max-width: 462px) 100vw, 462px"> 
<h6 style="text-align: center;">Source: <a href="https://x.com/tobyhardtospell/status/1810719173733142828" target="_blank" rel="noopener">X</a></h6> 
<ul> 
 <li> <h6>Sign of Lack of Innovation in Solving Big Problems</h6> </li> 
</ul> 
Yet another theory and this tweet here really sums it up, is that Crypto is not trying to build big, useful things anymore. 
And while I do not believe this one is true because I still see lots of innovation, I see Antonio’s point here. And as the founder of dydx, he is definitely in the trenches seeing what’s going on with other builders. 
<img decoding="async" class="wp-image-146237 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxvcbvbgfhrge-253x300.png" alt="" width="419" height="496" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxvcbvbgfhrge-253x300.png 253w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxvcbvbgfhrge-355x420.png 355w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxvcbvbgfhrge.png 387w" sizes="(max-width: 419px) 100vw, 419px"> 
<h6 style="text-align: center;">Source: <a href="https://x.com/AntonioMJuliano/status/1811484809211806035" target="_blank" rel="noopener">X</a></h6> 
Plus, as someone who has been in crypto for a long time and seen many bull and bear markets, there is something that seems different about this market 
<h5>Is It Demographics?</h5> 
I saw this tweet and I bet many of you on Crypto Twitter saw it too. It has almost 150k views in just a few days. And it asks a different question. This tweet asks, what if the real issue in this market is demographics? He mentions TikTok specifically. It plus things like Instagram reels and shorts and YT shorts mean VERY short attention spans across the board. 
But it is especially true for younger audiences. Many of the newcomers to crypto since 2021 are in Generation Z. Many think of crypto as a Millennial technology. And many think most of the users are millennials. That’s probably true although Gen X has more representation than many think, especially among founders or long-term Bitcoin holders. 
<img decoding="async" class="wp-image-146239 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvcbgbgggf-300x236.png" alt="" width="483" height="380" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvcbgbgggf-300x236.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvcbgbgggf.png 395w" sizes="(max-width: 483px) 100vw, 483px"> 
<h6 style="text-align: center;">Source: <a href="https://x.com/R89Capital/status/1809967864767545757" target="_blank" rel="noopener">X</a></h6> 
But until only a couple of years ago, Gen Z, the Zoomers, were too young to take part. Now they aren’t. And they love memes and anything that appeals to their short attention spans. I know you’ve noticed that Solana and the Solana and Base <a href="https://www.altcoinbuzz.io/?s=solana+memecoins" target="_blank" rel="noopener">memecoins</a> are just about the only things other than Bitcoin having a good 2024 so far. 
This is a possible reason why. This mentality of jumping from memecoin to memecoin might be the introduction of Gen Z to crypto. What do you think? Do you think the demographics of the retail market in crypto are changing? Let us know your thoughts in the comments below. 
<h5>3) Solutions &amp; TakeAways for You</h5> 
Let me start here by saying I do think that demographics are playing a role. Younger people are more into crypto because: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">They think the stock market is rigged.</li> 
 <li style="font-weight: 400;" aria-level="1">They think no other investment will be able to help them get ahead.</li> 
 <li style="font-weight: 400;" aria-level="1">They think no other investment will effectively keep up with inflation.</li> 
 <li style="font-weight: 400;" aria-level="1">They know it is an asymmetric bet. This means a little investment can earn a ton in crypto.</li> 
</ul> 
<img decoding="async" class="wp-image-146241 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vxcvxcvxcxvc-227x300.jpg" alt="" width="476" height="629" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vxcvxcvxcxvc-227x300.jpg 227w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vxcvxcvxcxvc-317x420.jpg 317w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vxcvxcvxcxvc.jpg 393w" sizes="(max-width: 476px) 100vw, 476px"> 
<h6 style="text-align: center;">Source: <a href="https://x.com/Route2FI/status/1637154588934520834" target="_blank" rel="noopener">X</a></h6> 
So all factors favor the idea that younger people are getting into crypto now. And that this trend will continue. So how can you take advantage of this? Well, you could buy memecoins, but we don’t recommend that. 
But this is one reason why we recommend Solana. Solana is the home of memecoins right now. Solana is also the main retail chain. ETH no longer is since most of the activity is on the many Layer 2’s. Solana’s real competitor in memecoins and as “THE” retail chain is Base. 
And if Base ever launched a token, we would recommend that too. Because it does not, we see Optimism as the next best thing. <a href="https://www.altcoinbuzz.io/?s=Optimism" target="_blank" rel="noopener">Optimism</a> is the tech stack for both Base and for BNB’s Layer 2 opBNB. But the takeaways here should not be specific recommendations like these. 
What you should look for are projects that support memecoins. They could be: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Layer 1s like SOL.</li> 
 <li style="font-weight: 400;" aria-level="1">Layer 2s like Optimism.</li> 
 <li style="font-weight: 400;" aria-level="1">Infrastructure tools to SOL, Base, or <a href="https://www.altcoinbuzz.io/?s=BRC-20" target="_blank" rel="noopener">BRC-20</a> like wallets or TON Ecosystem if your memecoins use Telegram for support.</li> 
 <li style="font-weight: 400;" aria-level="1">DEXes like Uniswap, Raydium, or Jupiter.</li> 
 <li style="font-weight: 400;" aria-level="1">And maybe even a couple of exchange tokens for CEXes that support many of these coins.</li> 
</ul> 
You can see where we are going with this. The idea is you don’t have to trade in memecoins to profit from their growth. You may want to and you should DYOR. But we don’t recommend that and there are lots of safer ways to benefit from this trend, if it continues for the rest of this year and into 2025. 
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<h6>Disclaimer</h6> 
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. 
The post <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/why-people-hate-crypto-now/">Why People Hate Crypto Now?</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

Why People Hate Crypto Now?

Altcoin Buzz

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