Asymmetric Capital Founder Joe McCann Reveals Early Investment in Solana Memecoin BONK
Joe McCann, the founder of digital asset investment firm Asymmetric Capital, today revealed that the company was one of the first institutional funds to
Singapore digital asset investment firm Asymmetric Capital was among the first institutional funds to invest in memecoins, putting funds into Solana-based memecoin BONK in October 2023, when the token’s market capitalization had risen rapidly to $28 million.
Speaking on the sidelines of the Solana Breakpoint conference in Lisbon on Oct. 202023, McCann said that many venture capital firms have talked online about why memecoins are terrible.
“But if you look at their bags, they've invested billions of dollars in a dozen different layer 2s on Ethereum. And memecoins are outperforming them,” he said during a fireside chat with DeFiance Capital founder Arthur Cheong.
BONK started the first day of October 2023 with a market cap of $9.2 million that soared in the days that followed. It has since grown its market cap to nearly $1.3 billion, substantially outpacing the governance tokens on Ethereum level 2 networks.
During the same period, Arbitrum has gone from a market cap of around $1.2 billion to some $2 billion, a 70% jump, while Optimism has remained stable at just under $2 billion.
BONK's market cap has correlated with sharp increases in its price, unlike ARB and OP.
Since Oct. 1, 2023, the price of an ARB token has dropped from 90 cents to roughly 57 cents at press time, while OP is up a relatively modest 24.6% from $1.34 to $1.67, according to CoinGecko data.
“You're foolish if you don't have some exposure to [memecoins] in the portfolio, because the asymmetry on the upside of these positions is enormous,” said McCann.
“Look at the last cycle – Dogecoin was crazy outperforming so many of these thesis-driven VC investments. And if you look at the price chart of Dogecoin over the last four years, it's just making new all-time lows.”
Despite his positive outlook on memecoins, McCann said 99.9% of memecoins are just a “flash in the pan,” hardly making them ideal for venture fund investors, in contrast to those with liquid portfolios.
“Memecoins are not really suited for venture funds, but they are good for hedge funds. And I think that's why you see the hedge funds piling into memecoins, but the venture funds are not,” he said.
“I think they're both making a mistake. But the hedge funds are making less of a mistake than the venture funds.”
He also said there is no difference between buying a memecoin and hoping it jumps 1,000x and buying a lottery ticket and hoping your luck is in.
“That's why 99.9% of memecoin traders on Pump.Fun have not made money,” he added.
以上是Asymmetric Capital Founder Joe McCann Reveals Early Investment in Solana Memecoin BONK的详细内容。更多信息请关注PHP中文网其他相关文章!

2025年全球十大加密货币交易所包括Binance、OKX、Gate.io、Coinbase、Kraken、Huobi、Bitfinex、KuCoin、Bittrex和Poloniex,均以高交易量和安全性着称。

全球十大加密货币交易平台包括Binance、OKX、Gate.io、Coinbase、Kraken、Huobi Global、Bitfinex、Bittrex、KuCoin和Poloniex,均提供多种交易方式和强大的安全措施。

目前排名前十的虚拟币交易所:1.币安,2. OKX,3. Gate.io,4。币库,5。海妖,6。火币全球站,7.拜比特,8.库币,9.比特币,10。比特戳。

Binance、OKX、gate.io等十大数字货币交易所完善系统、高效多元化交易和严密安全措施严重推崇。

瑞波币(XRP)由Ripple公司创建,用于跨境支付,快速且费用低,适合小额交易支付。注册钱包和交易所后,可进行购买和存储。

芝麻开门是重点加密货币交易的平台,用户可以通过官方网站或社交媒体获取入口,确保访问时验证SSL证书和网站内容的真实性。

热AI工具

Undresser.AI Undress
人工智能驱动的应用程序,用于创建逼真的裸体照片

AI Clothes Remover
用于从照片中去除衣服的在线人工智能工具。

Undress AI Tool
免费脱衣服图片

Clothoff.io
AI脱衣机

Video Face Swap
使用我们完全免费的人工智能换脸工具轻松在任何视频中换脸!

热门文章

热工具

Dreamweaver CS6
视觉化网页开发工具

PhpStorm Mac 版本
最新(2018.2.1 )专业的PHP集成开发工具

SublimeText3汉化版
中文版,非常好用

记事本++7.3.1
好用且免费的代码编辑器

SublimeText3 Mac版
神级代码编辑软件(SublimeText3)