Andrew Kang: Meme coins are not a zero-sum game, but a new asset class

Share link:In this post: CoreWeave director Jack Cogen offloaded stock worth nearly $300 million as other investors offloaded up to $1 billion, according to regulatory filings The firm’s stocks have dropped by over 35% following weaker-than-expected Q2 earnings and soaring costs. Its shares had swung from a $40 IPO price in March to a $183 peak in June before retreating to around $100.

Ethereum and its ecosystem are set to remain in the spotlight in 2025, driven by accelerating institutional adoption and network upgrades. As the world's leading smart contract platform, ETH has benefited from billions of dollars in ETF inflows, fueling a steady price climb. Potential upside catalysts include the Pectra upgrade to enhance performance, large-scale tokenization of real-world assets (RWA), explosive growth in Layer 2 solutions such as Base, and the reduction in circulating supply of the burn mechanism. Ecosystem tokens like Lido (the leader in liquid staking) and Ethena (an innovator in synthetic stablecoins) are also poised to benefit. Institutional participation from major players like BlackRock further boosts demand for DeFi and staking products. As a result, the overall market cap of the ecosystem is expected to continue growing, attracting increasing amounts of mainstream capital.