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Charles Edwards, a cryptocurrency analyst and the founder of the Capriole Investments fund, has shared a screenshot of an infographic that offers a comparison between the market caps of all meme coins, Dogecoin in particular, and the Quantum stocks market. Dogecoin alone has left the latter far behind.
Edwards, who has been paying close attention to the development of Quantum computers recently, ponders if this state of things is going to end soon or last long.
Meme coin market and DOGE surpass Quantum stocks
The infographics shared by Edwards displays the market capitalization sizes of meme coins, DOGE, HYPE crypto exchange and all Quantum-focused U.S. companies’ stocks this year.
The size of all meme coins’ market value constitutes a mind-boggling $120,000,000,000. Dogecoin in particular boasts $57,000,000,000. Meanwhile, the HYPE cryptocurrency exchange (this particular choice was not clarified by the analyst), which is not on the top 50 list of cryptocurrency trading platforms yet, has a market capitalization of $27,000,000,000.
Meanwhile, according to the tweet, the entire U.S. Quantum stock market is valued at $16,000,000,000 — almost 1/4 of Dogecoin’s market value alone.
Edwards commented on this data, saying: “Be honest. Do you think this makes sense?” As an afterthought, he wrote: “The better question here is, how long do you think this will last?” This implies that perhaps he does not expect this state of things to last for long.
The commentators from among his followers agreed with Edwards that Quantum stocks are largely undervalued compared to crypto and especially compared to “s-coins,” as they referred to meme-themed cryptocurrencies. Some expect this to stay this way for another couple of months, expecting a major correction for meme coins to follow.
Quantum computers to transform AI, per Edwards
Earlier today, Charles Edwards published two X posts, dedicated to the fast development of Quantum computers. He pointed out that “Quantum alone is a giant industry” with an addressable market size of multi-trillion dollars. However, he continued, currently it overlaps with other two markets, which are AI and semiconductor chips.
But, according to the analyst, Quantum-focused companies will also start to produce chips and transform the artificial intelligence space. “Quantum is the biggest melting pot for this decade's exponential themes,” Edwards said.
Dan Burgin
U.Today Editorial Team
