NYC Mayor Criticizes Memecoin Ahead of Crypto Conference

The Impact of Meme Culture on the Crypto Market

New York Mayor, Eric Adams, recently criticized the impact of meme culture on the crypto market. He emphasized that "We are focused on the long-term value of these technologies for the city and its people, not chasing trends or memes." Adams announced a new partnership with financial companies to promote the city's role in the digital asset sector. He is committed to bringing industry leaders together to shape the crypto strategy, ensuring that New York remains a hub of innovation.

New York Crypto Conference on May 20

Adams discussed the potential of cryptocurrencies and blockchain in improving access to finance for unbanked city dwellers. In April, he revealed that New York will hold a crypto conference on May 20 to promote innovation and growth in the industry. Adams also announced new partnerships to lead the city's digital asset strategy, from startups to large enterprises.

Perspectives on Memecoin and Support for Cryptocurrency

Despite skepticism about Memecoin, Adams reaffirmed his support for cryptocurrency, reminding everyone that he was the first U.S. mayor to receive his salary in Bitcoin and Ether in 2022. The recent strong recovery of Altcoins and Memecoins has caused the CMC Altcoin Season Index to rise to 35, suggesting that an altseason may be on the verge of forming.

The Growth of Altcoin and Memecoin

Analysts predict that altcoins could rise by up to 40% daily in the next 3 to 6 months. Ethereum led the way with a gain of 39.9%, while XRP, Solana, and Cardano rose by about 21%. Memecoins also recorded major changes, with Dogwifhat up 119%, Dogecoin up 37%, and Brett up 63%. Bonk and Mog Coin have also risen by 37% and 84%, respectively, in the past week. The list of Memecoins with the potential to increase 10-100 times in Bullrun 2025 includes Dogwifhat, Degen, Brett, Mubarak, Mog Coin, Snek, Ski Mask Dog, Kendu Inu, Osaka Protocol, and Bobo.

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