The success of the new memecoins is proof that there are still people out there willing to fall for obvious crypto scams. But why?
The crypto industry has once again shown us that the depths of human stupidity are truly unfathomable.
Let’s see how. Incoming US president Donald Trump on Saturday announced $TRUMP, his own cryptocurrency token. Within a day, its market cap jumped to a peak of $15 billion. At the time of writing this, the token continues to have a market cap of over $10 billion. To put that in context, Ola Electric, one of India’s leading electric two-wheeler manufacturers, has a market cap of around $3 billion (a rare comparison where the Bhavish Aggarwal-led company appears to have a reasonable valuation). …
Sethu writes on all things technology at The Morning Context. He previously worked as a senior sub-editor at Indian Express.
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