Anatoly Yakovenko, co-founder of Solana, became embroiled in controversy after calling the community on X useless, causing many investors to shift to betting on Solana's USELESS memecoin.
This controversial statement not only attracted waves of reactions from the community but also fueled strong growth for Solana-based memecoins, with USELESS rising thanks to this event and the strength of the DeFi trend.
MAIN CONTENT
Anatoly Yakovenko's 'useless' statement about the community on X has sparked a fierce wave of controversy.
Investors are leveraging this statement, pouring funds into the USELESS memecoin on Solana, causing prices and Open Interest to surge.
Despite skepticism, the memecoin sector on Solana continues to grow strongly with valuations in the tens of billions of USD.
What did Anatoly Yakovenko say about the community on X?
Anatoly Yakovenko, co-founder of Solana, posted on X that the community function on this platform is 'useless' and should be eliminated.
This statement immediately drew attention and became a major topic of discussion in the global cryptocurrency investment community. Anatoly's original tweet stated, "Communities are useless," expressing dissatisfaction with the real value creation capabilities of community groups on X.
This is not the first time he has stood out with shocking views on the DeFi sector. This perspective has led many to comment that Anatoly seems to underestimate the role of the community and the memecoin economy that is strongly dominating Solana's ecosystem.
"Communities are useless."
Anatoly Yakovenko, Co-founder of Solana, X.com, 2025
What is the community's reaction in Solana and the cryptocurrency industry?
Anatoly Yakovenko's statement faced a fierce wave of backlash from the Solana community and investors.
Most comments suggest that this statement reflects a lack of respect for the importance of the community, especially in the memecoin and DeFi sectors. Many assert that it is the strong community that has significantly contributed to Solana becoming the sixth-largest cryptocurrency with a market cap of $87 billion.
Some others comment that memecoins and NFTs have been and are building culture, investment trends, and value for blockchain, making Solana a direct competitor to Ethereum in the communication and practical application front.
What has Anatoly Yakovenko said about memecoins and NFTs in the past?
Before the statement about the community, Anatoly had previously expressed strong opinions about memecoins and non-fungible tokens (NFTs) on X on July 27.
He stated that memecoins and NFTs are nothing but a model of 'loot boxes with no real reward', emphasizing skepticism about the true value of products that create many social effects but lack a solid foundation of real assets.
"Loot boxes with no real reward."
Anatoly Yakovenko, Co-founder of Solana, X.com, July 2025
"Memecoins and NFTs are digital slop and have no intrinsic value."
Anatoly Yakovenko, Co-founder of Solana, X.com, July 2025
These statements have sparked debates about the development philosophy of the Solana ecosystem, raising concerns among some users about the sustainability of trends like memecoins and NFTs on this blockchain.
The USELESS speculation wave: Is the 'useless' memecoin becoming an investment opportunity?
Although Anatoly's remarks are critical, a group of investors has candidly used this statement to bet on USELESS, the Solana-based memecoin launched in early May.
As information spread, investors quickly bought USELESS in hopes of price increases due to media effects and the mentality of 'joining a new trend'. According to CoinMarketCap data at the time of writing, USELESS increased by 8.1% in 24 hours, creating a significant FOMO wave on social media and cryptocurrency financial analysis forums.
"Unexpected social moments can turn a small project into a major phenomenon, as long as the community feels they are participating in a special event."
Jack Purdy, an analyst at Ark Invest, commented on Bloomberg, 2024.
The market cap, liquidity, and trading demand for USELESS have skyrocketed due to the agility and appeal of the 'useless memecoin' narrative, reflecting the speculative culture in today's DeFi world.
USELESS price movements and derivatives market: What's happening?
The excitement around USELESS extends beyond the spot market and has spread to the derivatives market.
Data from CoinGlass shows that shortly after Anatoly's statement, the total Open Interest of USELESS skyrocketed to $25.84 million, thanks to a new fund flow of $4.3 million entering derivative contracts. This volatility indicates that investors have high expectations for the strong short-term price increases of this memecoin.
On the technical chart, USELESS is approaching a critical price zone. According to analysis from TradingView, whenever the price hits this support zone, USELESS rebounds strongly and sets new highs, with the most recent peak being $0.441 established on July 28. If this trend continues, the possibility of retesting and surpassing ATH is entirely feasible.
What is the role of memecoins and NFTs in the Solana ecosystem today?
Although Anatoly has publicly doubted the value of memecoins and NFTs, in reality, these two sectors remain a significant driving force behind Solana's value and recognition in the blockchain market.
Data from Artemis shows that the memecoin sector on the Solana blockchain is growing at a rate of 14.1% monthly, with a total market capitalization reaching $65.66 billion. Six out of the ten largest memecoins are built on the Solana platform, including Pudgy Penguins (PENGU), Bonk (BONK), Official Trump (TRUMP)…
"Memecoins and NFTs are not just investment phenomena, but also culture, a way to attract users and develop communities for emerging blockchains."
Raphael Haupt, CEO of Toucan Protocol, stated at the Blockchain Conference Berlin 2024.
This proves that even though the leader's remarks are not entirely positive, the actual achievements of the ecosystem are built by waves of investment, creativity, and FOMO from these very communities.
Why do memecoins on Solana continue to attract strong interest despite concerns?
The impact of the community in the DeFi world is an undeniable factor. Memecoins on Solana not only meet the demand for quick profits but also become cultural symbols, driving the spread of values and strengthening the ecosystem.
When founders express skepticism or directly attack the value of memecoins, the paradox is that the community often shows a reverse reaction, turning skepticism into pride, even spreading into a new speculative movement. The USELESS event on Solana is a prime example.
Despite the instability, memecoin projects help Solana compete strongly with Ethereum and other major blockchains in terms of transaction volume, media attention, and community growth speed.
Success metrics and comparison table among the most prominent memecoins on Solana.
The table below summarizes some information about major memecoins on Solana, showing remarkable development despite facing considerable skepticism:
Memecoin Blockchain Market Cap (USD) 1 Month Growth (%) Recent ATH Counts Pudgy Penguins (PENGU) Solana 8.2 billion 17.5 2 Bonk (BONK) Solana 4.7 billion 10.2 1 Official Trump (TRUMP) Solana 3.9 billion 8.8 1 USELESS Solana Updating 8.1 1
Data from CoinMarketCap, as of August 2025.
What will the next trend be: Memecoins, investment culture, and community strength?
Despite originating from fierce debates, memecoins on Solana continue to demonstrate strong vitality due to community cohesion and innovative speculative incentives.
After the USELESS event, observers predict that new 'meme trends' will continue to emerge, leading to a massive wave of investment following the trend. FOMO investment culture, content creation on social media, and conflicting narratives from industry leaders will continue to be significant drivers keeping Solana in a crucial position in the blockchain ecosystem race.
"Blockchain projects should regard community strength as a strategic asset, whether it's memecoins or NFTs, because they shape the future of technology and global investment culture."
Lex Sokolin, former head of strategy at ConsenSys, commented on CoinDesk, 2024.
Frequently Asked Questions
What did Anatoly Yakovenko say about the community on X?
Anatoly stated on X that the community function is useless and should be eliminated. This remark sparked intense controversy within the cryptocurrency community.
What is USELESS?
USELESS is a memecoin based on the Solana blockchain, launched in early May, gaining significant attention after the controversial statement by the co-founder of Solana.
Why did USELESS surge after Anatoly's statement?
Investors are leveraging the media effect from the 'useless' statement to FOMO into USELESS, creating a speculative frenzy and pushing prices and Open Interest high.
What role do memecoins play in the Solana ecosystem?
Memecoins and NFTs play a significant role in building communities, driving transactions and publicity for the Solana blockchain, leveraging new projects.
Can USELESS surpass its ATH in the near future?
If the price model and community mentality are maintained as history shows, USELESS has the potential to optimally exceed the previously established ATH.
What are the other major memecoins on Solana?
Some notable memecoins on Solana include Pudgy Penguins (PENGU), Bonk (BONK), Official Trump (TRUMP), all with market capitalizations reaching billions of USD.
How is the memecoin sector on Solana developing?
The memecoin sector is growing over 14% each month, with a total market capitalization of approximately $65.66 billion (according to Artemis), indicating strong appeal and momentum.
Source: https://tintucbitcoin.com/nha-dau-tu-solana-tan-dung-phat-ngon/
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