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Crypto investor demand for memecoins remains at lows not seen since 2024, despite a growing speculative appetite that has boosted TradFi leveraged ETFs to a record $239 billion.
Traditional finance leveraged investment products are at a record high, but the appetite for speculative assets remains muted in the cryptocurrency market.
Speculative appetite is cooling among crypto investors, with memecoin dominance versus altcoins hitting a near two-year low last seen in February 2024, according to crypto data platform CryptoQuant.
“Memecoin markets are dead,” wrote CryptoQuant co-founder and CEO Ki Young Ji in a Thursday X post.
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