Meet Murad Mahmudov – a crypto trader, founder, and former CIO of the
now-bankrupt hedge fund Adaptive Capital. Recently, his wallets were leaked,
revealing a stunning $25 million in memecoins,
marking one of the most intriguing journeys in crypto.
Here’s a closer look at how he became one of the biggest names in the memecoin
world.
1️⃣ A Step Back in Time
In 2020, Murad chose to step away from social media,
a decision that left his followers puzzled. But after a two-year hiatus,
he returned with renewed enthusiasm for the crypto space, convinced of its
potential.
2️⃣ The Memecoin Renaissance
Earlier this year,
Murad’s views on crypto evolved as he began championing memecoins.
He saw an untapped market with these tokens and became vocal about their potential,
especially in an emerging “Memecoin Supercycle.” By June,
he even published a list of his top memecoin picks,
which quickly garnered attention.
3️⃣ The "Cult Memecoins" Table
On June 25, Murad created the now-famous “Cult Memecoins” table. His first pick? Popcat. Over the next few months, he finalized his list,
with SPX6900 as the latest addition. This curated list was a testament to his bullish outlook on memecoins, with each pick fueling discussions across the community.
4️⃣ Token2049: A Memecoin Revolution
During the Token2049 conference in Singapore, Murad delivered a keynote on the “Memecoin Supercycle.” He highlighted that only 43 tokens among the Top 300 on CoinMarketCap had outperformed Bitcoin this year, with memecoins representing 13 of the top 20. His presentation gave new momentum to the memecoin
movement, reinforcing his position as a key figure in this niche market.
5️⃣ The Reason Behind the Memecoin Surge
Murad pointed to several factors driving memecoin growth:
Overproduction of altcoins
Inflated initial valuations for altcoins
A trend where altcoin price appreciation is largely reserved for private rounds
According to Murad, with waning interest in traditional altcoins, traders were
turning to memecoins to find growth opportunities.
6️⃣ Wallet Leak: The Revelation
On October 11, crypto investigator zachxbt revealed 11 wallets associated with
Murad, showing $25 million worth of memecoins. Among the evidence, Zach cited Murad’s substantial MINI token purchase right before Murad mentioned the coin
on social media, sparking widespread interest.
That's it for today folks,
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