Bloomberg Law
May 25, 2023, 1:59 PM

Why Frog Memecoin Craze Is a Stress Test for Bitcoin: QuickTake

David Pan
David Pan
Bloomberg News

Bitcoin may be the most widely recognized name in crypto, but its chief rival Ethereum has cornered a bigger share of the recent innovation in digital assets, whether it’s nonfungible tokens or decentralized finance apps. That’s because Ethereum’s underlying software is seen as more versatile and better able to handle bursts of activity without getting clogged up and slowing down. Now Bitcoin finds itself playing host to crypto’s latest speculative frenzy, a frog-branded “memecoin” called Pepe, putting the original crypto network’s technology under strain.

1. What are memecoins?

Memecoins are digital tokens depicted with an image — often an ...

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