#StablecoinLaw

The market value of the meme coin sector rose to $72 billion in July, a 29% increase from $55 billion on June 30. This rise was the result of a combination of enthusiasm around pre-launch sales, community momentum, and a new launch platform for meme coins on the Solana network that started gaining traction.

On Friday, the market value of meme coins rose further, peaking at $79 billion — representing a 43% increase since the end of June. By the time of writing, the value had slightly retreated to $78.81 billion.

Although individual investors are excited to ride the wave and the numbers are eye-catching, industry leaders are divided on whether the return of momentum to meme coins represents a positive development in the cryptocurrency ecosystem.