The post BitMEX Co-Founder Arthur Hayes Buys Solana-Based Memecoin Smoking Chicken Fish (SCF) appeared on BitcoinEthereumNews.com.

BitMEX Co-Founder Arthur Hayes Buys Solana-Based Memecoin Smoking Chicken Fish (SCF) In a recent post on X (formerly Twitter), Arthur Hayes, the co-founder of BitMEX, a prominent cryptocurrency exchange, revealed that he has purchased Smoking Chicken Fish (SCF), a Solana-based memecoin. The announcement came at a time when the memecoin had already experienced a significant surge in price, trading at $0.06039, which marks a 32.54% increase over the past 24 hours, according to data from CoinMarketCap. Hayes’ interest in SCF adds another layer of excitement to the memecoin space, which has continued to gain momentum in 2024, particularly on the Solana blockchain. Known for his strategic investments in the crypto world, Hayes’ involvement could signal broader recognition for the growing memecoin trend on alternative blockchains beyond the traditional focus on Ethereum. What Is Smoking Chicken Fish (SCF)? Smoking Chicken Fish (SCF) is a memecoin built on the Solana blockchain, a network known for its high-speed transactions and low fees. The rise of SCF reflects the continued popularity of meme-based tokens, which often combine humorous or viral content with blockchain technology, attracting speculative investors looking to capitalize on potential short-term gains. Although SCF’s exact origins remain lighthearted and largely driven by community participation, its sudden price movement has drawn the attention of both traders and crypto influencers like Arthur Hayes. SCF operates similarly to other memecoins, relying on community support and social media trends to drive value, with fluctuations often tied to market sentiment and speculative activity. Arthur Hayes: A Strategic Investor in Memecoins? Arthur Hayes has long been a key figure in the cryptocurrency industry. As the co-founder of BitMEX, a leading cryptocurrency derivatives exchange, Hayes has a reputation for bold moves and strategic investments in the crypto space. His decision to invest in SCF could be a signal of…

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Filed under: News - @ September 28, 2024 8:21 am