The memecoin market cap surged to $72 billion in July, up 29% from June 30, with a peak at $79 billion on Friday. Retail investors are enthusiastic, but industry leaders are divided on what the resurgence means for crypto. Source: CoinMarketCap.

Xion CEO Anzalone believes memecoins damage the industry’s reputation and don’t align with real crypto use cases. He sees an inverse correlation between industry success and memecoin market cap, suggesting capital may lack better investment options.

On the flip side, Neiro community lead S praises memecoins as the most attractive crypto segment, highlighting maturity in projects like Pudgy Penguins and Floki. S sees memecoins as hot, marketable, and easy to understand, contrasting with VC-driven projects dominating crypto.

Mercuryo CEO Kozyakov attributes the memecoin surge to sentiment, PUMP ICO success, retail accessibility, and Bitcoin hitting new highs. Despite differing opinions, Kozyakov acknowledges memecoins have a loyal following and believes the mood has “undoubtedly flipped to the bullish side.” Source: CoinTelegraph.

Read more at Cointelegraph: Memecoin Market Cap Hits $79B as Crypto Leaders Clash Over Industry Impact