Syncracy Capital co-founder Ryan Watkins said social trading apps, which combine market data, public trade records, discussion and execution, could spawn the next Roaring Kitty. DefiLlama shows weekly volume on such apps neared $1.3 billion through Aug. 24. Fomo and Pump are pulling daily active users close to Polymarket, Hyperliquid and Phantom, with each platform at roughly 60,000 to 100,000. Pump has paid out over $450 million to token deployers, with typical Meme coin swap fees of 2% to 3%. Social trading apps represent about 33% of Hyperliquid developer-code volume. The SEC has warned that social media recommendations may involve pump-and-dump, undisclosed promotions, scalping and impersonation, while illiquid Meme coins could hinder large-scale copy trading.
Syncracy Capital co-founder Ryan Watkins said social trading apps are set to combine market data, public trade records, discussion and execution in one interface. Individuals showing nine-figure trading profits, leaderboard users drawing heavy attention and online groups pooling significant capital could all emerge, he said. The next Roaring Kitty, in his view, might come from these applications.
On-chain data points the same way. DefiLlama figures show weekly volume on social trading apps neared $1.3 billion in the week ending Aug. 24. Daily active users on Fomo and Pump are approaching the levels of Polymarket, Hyperliquid and Phantom, each around 60,000 to 100,000. Social trading apps account for about 33% of developer-code trade volume on Hyperliquid. Pump has distributed more than $450 million in rewards to token deployers, and users typically pay 2% to 3% when swapping Meme coins.
Regulatory Warnings and Liquidity
The U.S. Securities and Exchange Commission (SEC) has warned that social media recommendations can involve pump-and-dump schemes, undisclosed promotions, scalping and impersonation. Thin liquidity in Meme coins could also limit large-scale copy trading.
(Bitcoin.com News)
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