Mar 14, 11:04 AM

Franklin Templeton's FTI_DA: Memecoins like $BONK on Solana lack intrinsic value but offer gains, show strong network correlation with user wallets

Franklin Templeton's Digital Assets arm, FTI_DA, releases a paper stating that memecoins like $BONK have a strong relationship with their native networks, particularly Solana. The firm notes that memecoins lack intrinsic value or utility but could offer opportunities for rapid gains. Despite this, memecoins display a strong correlation with the growth of user wallets on underlying blockchains, according to FTI_DA. The rise in memecoin trading activity coincides with an increase in active addresses on various blockchain networks, as reported by Franklin Templeton's Digital Assets team.

#Franklin Templeton #Digital Assets #Solana

Written with ChatGPT (GPT-3).