Meme Coins Reflect Crypto Market Maturation, Says Drift Protocol’s Cindy Leow
Meme coins represent a maturing crypto market, enabling users to rally behind narratives and launch tokens from scratch, according to Cindy Leow, co-founder of Drift Protocol, a Solana (CRYPTO: SOL)-based decentralized exchange (DEX).
In an interview with Benzinga, Leow highlighted the sustained relevance of meme coins, noting their role in showcasing the ability to create and trade tokens organically, despite recent market slowdowns.
She emphasized that meme coin cycles within broader market cycles signal a growing sophistication in decentralized finance.
Leow discussed Drift’s significant growth, with on-chain perpetual futures (perps) volume increasing fivefold in the past three weeks, driven by improved user experience (UX) and liquidity.
She noted that past hurdles to on-chain perps adoption, such as onboarding and UX issues, have largely been resolved, making trading on DEXs comparable to centralized exchanges (CEXs).
“The experience of trading on-chain is a lot better now than even a couple of months ago,” Leow said, underscoring Drift’s advancements in matching CEX performance.
A key factor in Drift’s …
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