How memecoins impacted crypto last quarter: Grayscale
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So no one’s surprised that the first quarter of the year wasn’t exactly a stellar one, right?
(If it makes you feel better, tech stocks also sank, according to Grayscale’s Research Insights.)
Overall, the crypto sector’s price index fell 18% during the quarter, which ended on March 21.
If you break it up by segments, “Consumer & Culture” had it bad. Some memecoins — like DOGE — were included in this segment, which helps explain the dramatic decline.
That’s also the case for smart contract platforms, because Solana’s pretty popular with the…
