Overview

• Anatoly Yakovenko labeled memecoins and NFTs “digital slop” during a July 27 Twitter exchange with Coinbase’s Jesse Pollak, arguing they lack intrinsic worth and likening them to mobile-game loot boxes.
• Data from Syndica indicate that over 60% of Solana’s decentralized app revenue in June 2025 derived from meme-based tokens, with platforms like Pump.fun and LetBonk leading daily trading volumes.
• Since its 2024 debut, launchpad Pump.fun has rolled out nearly 12 million tokens and amassed about $776 million in revenue, helping drive Solana’s $1.6 billion in first-half 2025 earnings largely tied to speculative trading.
• Members of the Solana developer community have criticized the contradiction between Yakovenko’s denouncement of memecoins and the network’s active promotion of meme-driven user engagement and fee generation.
• Experts caution that sustained blockchain growth will require shifting focus from hype-fueled tokens to value-oriented projects, citing creator-focused platforms such as Zora as models for long-term adoption.