Home/Crypto Live News/Meme Coins Linked With Its Underlying Network Growth: Franklin Templeton
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Author: Nidhi Kolhapur
Nidhi Kolhapur 
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Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
Mar 14, 2024 21:09
Franklin Templeton Digital Assets Team points out that despite lacking value, memecoins have a strong correlation between price surges and growth of wallets on underlying blockchains. Such tokens provide opportunities to make quick profits to the investors and get viral. The report found that active addresses on various blockchain networks grew in relation to meme coin trading activity. In the last year as well, multiple memecoins had surged, most notably Solana based BONK. Prominent meme tokens of the Ethereum and Solana ecosystems have been rallying since late February amidst a bitcoin rally.
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