CryptoQuant CEO Critiques Surge in Memecoin Presales on Solana

Ki Young Ju, the CEO of CryptoQuant, a cryptocurrency on-chain and market data platform, has raised concerns about the growing fashion of memecoin pre-sales, especially on the Solana blockchain. This criticism occurs in the wake of a marked increase in activity and attention on memecoins like “Slerf” and the presale of “areyoustupid.sol,” which have led to a notable surge in Solana’s transaction fees and overall on-chain volume.