Crypto News – Following an early peak for Bitcoin and a significant rush into meme coins, experts in the cryptocurrency space are referring to the current cycle of Bitcoin halving as the most peculiar bull market in history.
Is the Memecoin Frenzy Negatively Impacting the Next Bitcoin Halving?
In a post on X on April 1, Chainlink community liaison Zach Rynes, also known as ChainLinkGod, stated that this bull market has been strange.
In the past, during bull runs, liquidity would first pour into Bitcoin, then into Ethereum and other coins with large capitalizations, and so on. Nevertheless, Rynes noted that the market bypassed a few stages that we have observed in past cycles, with flows moving straight from Bitcoin to meme coins, which is a little odd.
WIF and BOME Fuel Meme Coin Fever Even More
Anthony Sassano has a similar view. According to Sassano, despite 10 years of crypto experience, this is the strangest bull market crypto has ever had. On April 1st, however, the total capitalization of meme coins surged to $70 billion, primarily because of surges in more established meme coins like Pepe and Bonk (BONK) and more newly launched currencies like Book of Meme (BOME) and dogwifhat (WIF), both of which are based in Solana.
On the Coinbase layer-2 network Base, memecoin speculation has also become extremely active. For instance, in the last month alone, the value of the recently launched Base-native coin DEGEN has surged by an incredible 2,800%. Taken together, the coming halving will be unlike any halving in the past.
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