Memecoins, which were once a staple of cryptocurrency markets, have seen their prices plummet as institutional investment increases. The influx of large-scale investors into the space is driving up demand for more established and reliable assets, such as Bitcoin and Ethereum. This shift has left many memecoins struggling to maintain their value.
Source
"Institutional Crypto Adoption Marks End of Memecoin Era" — CoinDesk
This article is Bitcoincryptos' summary and analysis of reporting originally published by CoinDesk. Read the full original report at the link above.
The data shows that in the past year, institutional investors have become increasingly involved in crypto markets, contributing significantly to the growth of assets like Bitcoin and Ethereum.