The post SOL Price Aims for $238, but Its Founder Is Causing a Stir appeared on BitcoinEthereumNews.com.

Anatoly Yakovenko criticized memecoins and NFTs as “digital slop,” comparing them to loot boxes in mobile games. Memecoins made up 62% of Solana’s DApp revenue in June 2025, generating $1.6 billion in the first half of the year. Solana’s ascending channel pattern and RSI near 67 suggest a potential 27% price rise to $238.40. Solana co-founder Anatoly Yakovenko has sparked controversy by describing the memecoins and non-fungible tokens (NFTs) fueling his network’s growth as “digital slop.” In a debate on X, he stated,  “I’ve said this for years. Memecoins and NFTs are digital slop and have no intrinsic value.” He compared them to loot boxes in mobile games, which offer random rewards and often lead to repeated spending. His remarks came during a discussion with Jesse Pollak, creator of Base, about whether these digital assets hold fundamental value. Pollak countered, saying,  “The content itself is valuable, just like a painting is fundamentally valuable, regardless of whether you charge people at the museum to see it.” Yakovenko Compares Memecoins to Loot Boxes Yakovenko noted that memecoins have contributed to Solana’s growth but likened their impact to loot boxes driving Apple’s gaming revenues. He added,  “Apple’s revenues would also be negligible if it weren’t for loot boxes.” Loot boxes have faced regulatory scrutiny in Australia and Germany due to concerns over spending incentives and transparency. Yakovenko’s comparison underlined his view of the speculative nature of memecoins and NFTs. His stance dates back to January 2024, based on earlier posts on X. Data shows memecoins are Solana’s biggest business Yakovenko’s comments stand in sharp contrast to the network’s own performance data. According to the infrastructure provider Syndica, memecoin DApps accounted for 62% of Solana’s decentralized app revenue in June 2025, marking a new all-time high. Solana Memecoin Revenue Surge. Source: Syndica In the…

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Filed under: News - @ July 28, 2025 11:26 pm