BitMEX Founder Arthur Hayes Says Memecoin Explosion Provides Positive Value for One Major Ethereum Rival

BitMEX founder Arthur Hayes has expressed his belief that memecoins provide positive value for blockchain ecosystems, despite criticisms from skeptics. In an interview with Real Vision founder Raoul Pal, Hayes emphasized the power of memecoins as a form of expression for the masses. He sees the trend of trading memecoins like Slerf or Dogwifhat on platforms such as ETH and Solana as a fun and experimental game with monetary rewards on the internet. Hayes appreciates the absence of a central authority dictating what can or cannot be done in this space. He acknowledges that some memecoins may be tasteless memes, but he still perceives them as valuable for bringing attention and value to blockchains. Hayes specifically mentions Solana as a blockchain that benefits from the culture surrounding memecoins due to its user-friendly interface, which attracts new users and developers to its ecosystem. Despite being an Ethereum proponent himself, Hayes recognizes the positive impact that memecoins have in driving attention and attracting engineers to blockchain projects.