Opinion: The Meme Coin Mania will undermine the industry's foundation and investor confidence, the crypto space needs to return to fundamentals

BlockBeats News, February 15th, Alejandro Navia, co-founder of nft now, stated in a social media post that the current chaos in the crypto space is not just another "market cycle" but a more concerning issue.

Meme coin trading has become a 24/7 activity in the crypto space, where investors are already too late if they join in just 15 minutes after. Tokens that can maintain their value for 6-12 hours without dropping to zero are considered "long-term," and every new token release feels like a trap. These are no longer issues of market cycles but signs that the market is sick. When investors need to stare at the screen every second to avoid being "late," something is fundamentally wrong.

The market is filled with RUG pulls and fraud events, pushing away real developers, as genuine projects cannot compete with pump-and-dump schemes disguised as a "community." This situation has made the crypto space "unsustainable," causing good projects to fade into the background, experienced traders to burn out, and the community to lose confidence.

Alejandro Navia believes that the crypto space needs to return to fundamentals, focusing on sustainable growth and supporting real builders to establish a robust, community-driven accountability.