Why Meme Coins Are Ditching Ethereum

Ethereum Developers Blocking Updates

A developer named Foobar says that Ethereum developers aren’t making important improvements to the network. This has led projects, including meme coin issuers, to move to other platforms.

Missing Features and High Fees

Foobar says that Ethereum hasn’t had any major updates because core developers are blocking them. This includes features like TSTORE and EOA batch transactions, which could improve scalability and reduce gas fees.

Projects Migrating to Other Blockchains

As a result of these limitations, many projects are moving to other blockchains like Solana and Avalanche. These platforms offer higher throughput and lower fees.

Meme Coins Find a New Home

Meme coins, which are often criticized for their lack of value, are also moving to these other platforms. Projects like Bonk and Honk have found success on Solana, while Bald has gained traction on Base.

Ethereum’s Future Uncertain

Foobar believes that Ethereum’s lack of progress is holding it back from being used for complex applications. He says that Uniswap v4, a major update to the popular DEX, has yet to launch due to these issues.

The future of Ethereum is uncertain as projects continue to migrate to other platforms. It remains to be seen whether Ethereum developers will address these concerns and bring the network back to prominence.