š§² A new kind of play has emerged: Memes are no longer paired only with SOLātheyāre being ātiedā to major assets like ZEC and even NVDA.
According to U.Today/DexScreener, Anonymous Cat (ZCAT) is priced directly in ZEC on Solana (rather than SOL). A 3% tax on each transaction is automatically converted into ZEC and distributed to users holding at least $20 worth. In its first week, it distributed around 2,320 ZEC (about $2.8 million). SAPLING, MOMO, SHIELD, and others have also followed suit with ZEC pairings. On BNB Chain, Meme tokens paired with assets named after stocks like NVDA have also appeared.
My take: this ties āMeme attentionā to the price of a real asset, which is innovative in terms of its mechanicsāit gives holders a seemingly āyield-bearingā story. But the real catch is the underlying asset: ZEC fell about 16.7% over the week, making it one of the worst-performing assets that week. In other words, the ādividendsā you receive come in an asset thatās losing value, and distributions depend entirely on trading volume. Once the hype fades, a drop in the paired ZEC could amplify holdersā actual losses. Whether these āasset-anchored Memesā are worth watching comes down to whether they can stand on their own, independently of the underlying asset.
Risk factor: compounded volatilityāthe Memeās own high volatility plus that of the underlying assetāand distributions rely heavily on sustained trading volume.
Do you think āMemes anchored to major assetsā will evolve into a new narrative, or is this just the same old speculation in a new wrapper? š¤
#Binance #MemeCoin #Zcash (For observation; data source: DexScreener/U.Today; not investment advice)
According to U.Today/DexScreener, Anonymous Cat (ZCAT) is priced directly in ZEC on Solana (rather than SOL). A 3% tax on each transaction is automatically converted into ZEC and distributed to users holding at least $20 worth. In its first week, it distributed around 2,320 ZEC (about $2.8 million). SAPLING, MOMO, SHIELD, and others have also followed suit with ZEC pairings. On BNB Chain, Meme tokens paired with assets named after stocks like NVDA have also appeared.
My take: this ties āMeme attentionā to the price of a real asset, which is innovative in terms of its mechanicsāit gives holders a seemingly āyield-bearingā story. But the real catch is the underlying asset: ZEC fell about 16.7% over the week, making it one of the worst-performing assets that week. In other words, the ādividendsā you receive come in an asset thatās losing value, and distributions depend entirely on trading volume. Once the hype fades, a drop in the paired ZEC could amplify holdersā actual losses. Whether these āasset-anchored Memesā are worth watching comes down to whether they can stand on their own, independently of the underlying asset.
Risk factor: compounded volatilityāthe Memeās own high volatility plus that of the underlying assetāand distributions rely heavily on sustained trading volume.
Do you think āMemes anchored to major assetsā will evolve into a new narrative, or is this just the same old speculation in a new wrapper? š¤
#Binance #MemeCoin #Zcash (For observation; data source: DexScreener/U.Today; not investment advice)