Franklin Templeton: Despite the lack of intrinsic value in meme coins, their price surge is strongly correlated with the growth of blockchain user wallets

ChainCatcher news, according to CoinDesk, Franklin Templeton's digital asset team stated that despite the lack of intrinsic value propositions for meme coins, there is a strong correlation between their price surges and the growth of user wallets on the underlying blockchain.

It is reported that meme coins may provide "investors with quick profit opportunities" and have gained viral popularity over the past year "due to their unique nature."

As trading activity for meme coins increases, the number of active addresses across various blockchain networks has also risen, including BONK on Solana and the Avalanche Foundation's recognition of the value of meme coins.