Investors are still going crazy for meme coins – but Binance’s ex-CEO thinks it’s time to get back to basics.
In a tweet dropped yesterday, Changpeng Zhao told his followers to stop chasing the next big meme coin and start building projects that actually do something.
Could this mean that utility tokens are poised for a comeback?
CZ Takes Aim at Meme Coins & Urges Developers to Build Real Apps
CZ didn’t pull any punches on Twitter.
He said: “I am not against memes, but meme coins are getting “a little” weird now. Let’s build real applications using blockchain.”
His tweet has blown up, hitting over 7.4 million views in just 24 hours.
While everyone’s been talking about meme coins like PNUT, CZ is essentially telling developers to get back to making real blockchain apps.
That’s where the talk of utility tokens comes in.
The key thing about these tokens is that they’re not just for trading like meme coins are.
Instead, they actually do stuff.
Take Ethereum, for example – it runs smart contracts.
Or Chainlink, which feeds real-world data into blockchain applications.
Instead of being held for quick gains, tokens like ETH and LINK are like the “fuel” that keeps their respective ecosystems running.
So, even though he no longer runs Binance, CZ clearly believes these utility-focused coins are the future of the crypto market.
Crypto Community Divided as Utility Token Trend Heats Up
CZ’s tweet has shown that many crypto natives are getting tired of the meme coin mania.
Their trading numbers are still enormous, but more big names are beginning to push back.
An example is IncomeSharks, who has over 569,000 followers on Twitter.
He said that meme coins went from being fun to funny to “extremely weird and desperate.”
However, there’s another side to the story.
High-profile CEXs like Binance and Coinbase continue to list meme coins, and it makes sense since they attract serious trading fees.
That’s led some people to point out the hypocrisy of exchanges profiting from the very coins their former executives criticize.
And they might have a point.
After all, even with meme coins becoming more mainstream, the market seems increasingly saturated with copycat projects that offer no real value.
If CZ’s stance gains traction, we might see a change in this trend – with utility tokens again taking center stage as developers focus on long-term value.
Is Best Wallet’s New BEST Token Primed to Benefit? Presale Raises $1.3M as Influencers Praise Potential
One utility token that could benefit from this shift is Best Wallet (BEST).
Instead of focusing on meme vibes, the Best Wallet team has created a crypto wallet that solves problems.
It supports over 60 blockchain networks and offers a built-in exchange for fast token swaps.
Best Wallet’s team recently launched a presale for the native BEST token.
The presale was initially only available to app users, although it has now opened up to the general public.
It has raised over $1.3 million in funding so far, and BEST tokens are available for $0.0228.
Investors can buy in using crypto or a credit/debit card.
Best Wallet’s Telegram channel members are excited about this presale setup, believing it could lead to pent-up demand ahead of a potential exchange listing.
We’re already seeing this trend, with several top crypto YouTubers praising Best Wallet.
An example is Crypto Zeus.
He released a video about Best Wallet last week, speculating it could take off in the next bull cycle.
With CZ suggesting that utility tokens might make a comeback, there’s every chance the BEST token could capitalize.
And given its focus on solving real issues, Best Wallet might be precisely the kind of project CZ had in mind when he called for more meaningful blockchain apps.
