PANews reported on September 3rd that crypto trader James Wynn stated on social media that the Solana ecosystem has become a "saturated market" filled with short-term speculators and farm-based activities, making it difficult for crypto meme coins to achieve long-term value. He believes that even FartCoin, once considered a success, is just another Ponzi scheme that may eventually go bankrupt. In his view, the only crypto projects currently with true blue-chip potential are Doge, Shib (though not exactly a "meme"), and Pepe. Even if other projects exist, they have little to no blue-chip potential. He also noted that the crypto community, which in the past was able to remain active and successful amid market fluctuations, is now fading.

He also pointed out that unless there is a future interest rate cut, the market hits a new high in Q4 and retail investors return strongly, the overall crypto meme coin market will be in a downturn.

Earlier yesterday, it was reported that James Wynn opened an ETH long position with 25x leverage .