Running Back Robinhood: The Rise of Moonshot | Messari
The explosion of speculative activity in 2021 led to Robinhood adding more than six million new crypto traders in all of two months. Can Moonshot, a simple app for trading memecoins, pull off a similar effect in the coming months? With the recent uptick in trading volumes being driven by memes and AI memes in particular, it may have a decent shot. At the very least, it is worth looking into the impact the app has had on the nascent meme sector over these chaotic past few months. For as much attention as they get, memes are a tiny fraction of total crypto market capitalization. Looking at the top 300 assets by circulating market cap (excluding stablecoins), meme-related assets are less than 3% of the total pie. However, trading volumes are another story, as memes command a disproportionate share of total volume. Meme volumes have averaged around 6-7% of total non-stablecoin trading volume YTD, but in recent weeks this has been as high as almost 11%. Say what you will about zero-sum game
Explore this link on the map →