Meme Coins Are Fueling a Global Wave of New Crypto Investors: Gemini
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In brief Over 30% of first-time crypto buyers in the U.S., U.K., and Australia purchased meme coins before Bitcoin or Ethereum, according to Gemini. 94% of meme coin holders also own traditional cryptocurrencies, suggesting a progression into broader crypto adoption. Institutional access is rising, with 39% of U.S. crypto investors now using ETFs; Italy leads globally at 47%. Crypto markets are undergoing a fundamental transformation, with meme coins helping drive mass adoption and becoming a legitimate entry point for investors who later get serious. That’s according to New York-headquartered crypto exchange and custodian Gemini’s latest Global State of Crypto report. It found over 94% of meme coin owners also hold traditional cryptos, with 31% of U.S. investors purchasing meme coins before Bitcoin or Ethereum. “Meme coins have become a surprisingly powerful gateway into crypto,” Saad Ahmed, Head of APAC at Gemini, told Decrypt. “They’re fun, culturally driven, and easy to get involved with.” The pattern extends globally, with 30% in Australia and 28% in the U.K. following similar trajectories, suggesting that meme coins function as training wheels, rather than purely speculative plays. In the last few weeks, crypto markets have sprung back to life, with some meme coins leading the rally. While meme coins are sometimes dismissed as a joke investment, they still maintain a big chunk of the market. The total value of the sector’s top meme coins now makes up over $74 billion of the industry’s $3.5 trillion total, data from CoinGecko shows. For people new to crypto, “buying a memecoin feels more like joining a community or being part of an internet moment,” Ahmed said. “From there, curiosity tends to grow: people start exploring other tokens, learn about wallets, and gradually move deeper into the ecosystem.” Diamond hands prevail The crypto industry, meanwhile, has grown and matured…
Filed under: News - @ May 28, 2025 2:24 am