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Crypto Market News: Sandeep Nailwal, the co-founder of Polygon, expressed his disappointment over the lack of high quality applications built on the blockchain space. He made the bearish comment over the lack of high quality and high user presence in blockchain based applications, in the context of expanding the web 3.0 further into the mainstream world. Acknowledging the power of layer blockchains Bitcoin and Ethereum, he said the craze around memecoins will not help the market’s bigger cause.