Daily Memecoin Recap - October 30

Seems like AI meta is slowly dying out. What's next? 👀

Luce Gets A New Character
#tenebro -> hit $3m , New Mascot of The Holy Church
#tenebro -> hit $1 .45m
$bope -> hit $284k , based pope
- Tenebro is $LUCE 's nemesis

High Volume
$rzlr -> $2 .1m to $10 .1m (4.8x), viral tiktoker, the rizzler
$xeno -> hit $11 .2m, quote retweeting other people's tweets with AI generated art
$mondo -> hit $4 .6m, unique art
$zuo -> hit $1 .1m, funny meme

Doge Betas
$shibu -> $4 .7m to $12m (2.5x), $doge mascot
#dogenes -> hit $4 .9m, greek philospher $doge
$dogat -> hit $3m , cat version of $doge

Artist Launch
$bflyz -> hit $3 .7m
- bflyzone_

Artificial Intelligence
$avb -> $1 .2m to $8 .3m (6.9x), autonomous virtual beings
#himenoAI -> hit $1 .5m
$moksha -> hit $1 .3m
$bbc -> hit $930k , BBC AI...

Maneki Co-Founder Launch
$thecat -> hit $41m
- Maneki confirmed that one of their co-founders launched his own token

Election Meta
$doge -> $740k to $4 .2m (5.7x), Department of Gov Efficiency
$donkey -> hit $5 .2m, based on KamalaHarris
#republican -> hit $2 .3m
$potus -> hit $1 .6m, President of the United States, realDonaldTrump
#garbage -> hit $1m , United States Of Garbage
- Elections are next week👀

Tee Hee He
$tee -> hit $46 .5m, on $ETH
$tee -> hit $1 .2m, on $SOL , beta to the one above
- Rumored to be truth_terminal's eth coin

More Cooks
$ff -> $500k to $2m (4x), platform that lets you launch a fair coin on pump fun
$toro -> hit $13m , Asian character
$btcat -> hit $7 .5m, first cat on chain
$earl -> hit $3m
$mx -> hit $2 .25m, MX69420, beta to $spx (SPX6900)
$bbydev -> hit $1 .45m, the dev is a baby
$snoo -> hit $1 .34m, reddit mascot
$mikro -> hit $845k , redacted MicroStrategy
$brains -> hit $800k
#ct100 -> hit $488k , CT Index, 100 most influential accounts on CT, unique concept
$batcat -> hit $470k , Halloween meta
$mlnr -> hit $430k , Millionaire
$popbat -> hit $210k , $popcat bat

All eyes on $BTC as we hope it breaks past ATH

Will we continue to have a green Q4?

WHAT ARE THE BIGGEST OBSTACLES TO DePIN GROWTH??
In a recent appearance at ETHToronto, Frank Mathis highlights the next steps for DePIN’s future.

GenesysGo founder Frank Mathis is no stranger to the highs and lows of crypto’s thriving DePIN sector.

Drawing on his years of experience, Mathis joined other DePIN thought leaders at ETHToronto, including Helium COO Scott Sigel, to discuss the future of the sector.

“If DePIN solves that, DePIN is inevitable”
Like many passionate crypto community members, DePIN advocates staunchly argue that DePIN is inevitable. Speaking to hundreds of crypto enthusiasts at ETHToronto, Mathis offered a refreshing point of view.

The GenesysGo founder argues that value creation for contributors is one of the most integral aspects of running successful DePIN networks. Mathis highlighted that, while DePIN promises to reward contributors as decentralized software scales, “it’s shocking how much of that is running on AWS and Google Cloud.”

For example, over 50% of Ethereum node operators are hosted on AWS, Hetzner, and OVH servers.

Reiterating the importance of wealth creation for contributors, Mathis contends “what DePIN really is, is an attempt to take one of the most centralized layers of the stack and decentralize that amongst the people such that they start to participate in the growth and success of these models.”

GenesysGo’s ShdwDrive is one such example. The decentralized storage solution empowers users to earn $SHDW tokens by providing unused mobile storage to a distributed network, directly generating income from a device that lives in their pocket.

Reflecting the ideal DePIN model proposed by Mathis, network contributors benefit from the growth and success of the platform. The GenesysGo founder reinforced this notion, opining “DePIN is only as inevitable as the value that participants in the network get from it… if DePIN solves that, DePIN is inevitable.”

POOR PERFORMANCE “ONE OF THE BIGGEST FAILINGS OF DePIN”
On paper, the benefits of DePINs are obvious. However, in practice, these platforms often sacrifice performance and scalability in favor of decentralization. While this aids in value creation for contributors and increases security, it actually hamstrings performance and growth.

DePIN is often considered the natural evolution of the sharing economy, which delivered iconic businesses like Uber and Airbnb.

Drawing parallels between the pearls of the sharing economy and emerging DePIN projects, Mathis illustrated that “Uber became highly successful, not just because you’re able to share in pieces of things you don’t use everyday.. but because it worked well, it was fast, it was easy to use.”

Mathis argues that for DePIN projects to truly take off, they need to rival the performance standards set by centralized industry leaders. Referencing his experience with GenesysGo, the founder posits “in our case, our first principle [is] decentralized storage needs to be as fast, as secure, as stable, and perform every bit as well as a traditional Web2 cloud service.”

ABSTRACTION IS KEY
The Web3 user experience has long been considered one of the industry’s biggest obstacles to adoption. The complexities of wallet management and security have discouraged newcomers to space for over a decade, and continue to repel potential users today.

Mathis insists that abstracting the end-user experience away from blockchain technology is key to the success of the industry. Reinforcing this belief, the founder affirms “Your end user shouldn’t know that they’re interacting with Web3”

Looking towards the future, Mathis considers DePIN regulation will present a significant obstacle to the sector’s growth. However, instead of taking a chagrined approach to future regulatory concerns, the GenesysGo founder suggests that DePIN projects need to take on some responsibility.

🇦🇷 In Argentina, the adoption rate of cryptocurrencies is incredibly high.

With cumulative inflation of 276% over the past 12 months, a huge number of Argentines are buying and holding USDT.

Of the 130 million users of the 55 largest exchanges in the world, 2.5 million are Argentinian.

The 5 main Argentine exchanges are Binance, eToro, BingX, HTX and Bitget.

https://www.forbes.com/sit.../