The arms race in the public chain ecosystem is escalating

Recently, the crypto world has been quite lively. On one side, a leading ecosystem fund is making large-scale purchases of popular Meme coins, with a funding scale that makes people exclaim the strength; on the other side, the Solana ecosystem quickly follows suit, pumping a Meme token with a market cap approaching 30 million USD, with gains as fierce as a rocket launch.

This is not just a simple capital game; what does it reflect behind the scenes? It is a deep competition for public chain users, liquidity, and ecosystem discourse power.

The pattern of the CEX era has been established, but the fight for on-chain ecosystems has just begun. The aggressive operations of large funds on risk assets like Meme coins are essentially about vying for market heat and user attention—who can capture trends faster and inject funds more aggressively will gain more ecosystem attraction in this cycle.

It is worth noting that this kind of competition is changing capital flows. The era where CEXs held absolute discourse is being broken, and more and more capital is beginning to focus on the on-chain ecosystem itself—public chain funds, ecosystem incentives, DeFi ecosystems are becoming new battlegrounds. The competition among Solana, BSC, and other emerging public chains will only intensify.

The surge in Meme coins is just an appearance. The real story is: whoever can lock in users, build ecosystem stickiness, and create sustainable value circulation will be able to seize high ground in the next cycle.