The crypto industry frequently experiences the emergence of new trends, drawing substantial investments from established and new players alike. One such narrative capturing attention is decentralized science, or DeSci.
Whale Activity Drives Interest in DeSci Tokens
Recent weeks have seen heightened activity on X (formerly Twitter), as major cryptocurrency investors, known as “whales,” began accumulating DeSci tokens. This accumulation sparked speculation that DeSci could become the next significant trend in the crypto space.
For instance, a trader reportedly spent 80 $SOL (valued at $17,200) to acquire two DeSci tokens, $RIF and $URO, three days prior. The investment yielded an unrealized profit of $1.5 million, an 88x return.
- $RIF Investment: $8,600 (40 $SOL) for 30.19 million tokens, with an unrealized profit of $906,000.
- $URO Investment: $8,600 (40 $SOL) for 20.08 million tokens, also yielding significant returns.
The Origins of DeSci Tokens
The first two DeSci meme coins, Rifampicin (RIF) and Urolithin A (URO), launched discreetly on Pump.Science in September, struggling initially with market caps below $500,000. However, the landscape shifted on November 8, when Binance announced an undisclosed investment in DeSci startup BIO Protocol, which quickly raised $33 million.
BIO Protocol, owned by Molecule DAO, manages Pump.Science, a platform for issuing meme coins for decentralized science projects. Binance had earlier published a primer on DeSci, and its recent reshares on social media fueled the hype further.
Influential Backing Elevates DeSci
Former Binance CEO Changpeng “CZ” Zhao’s engagement with DeSci entrepreneurs and Ethereum co-founder Vitalik Buterin further propelled interest. Zhao’s tweets about DeSci coincided with a price surge, temporarily outpacing AI meme coins.
Surge and Retreat: DeSci Tokens in Focus
- URO: The Solana-based token, associated with the Urolithin A compound, surged to an all-time high of $0.13 on November 19, with a market cap of $133 million. However, its value has since dropped to $0.0367, with a market cap of $37 million.
- RIF: This token, linked to the antibiotic Rifampicin, peaked at $0.23 on November 18 with a market cap of $237 million. It has since fallen to $0.087, down 42% week-on-week.
Beyond Meme Coins: The Broader DeSci Market
Other DeSci tokens, like Deep Worm’s WORM, also experienced sharp gains before retracing. The overall DeSci market now averages $1.2 billion in total value, with a daily trading volume of $300 million.
In comparison, AI meme coins hold a market cap of $2.9 billion, despite a recent 13% decline.
What is Decentralized Science?
DeSci leverages blockchain and Web3 technologies to transform how scientific research is conducted, funded, and shared. According to Alexandr Kerya of CEX.io, traditional systems centralize control, often leading to biased funding and limited accessibility.
In contrast, DeSci promotes transparency, decentralized funding, and open peer review. Physicist Mack Stachowiak, cofounder of AxonDAO, highlights DeSci’s aim to turn scientific ideas into actionable solutions, funded and governed by the community.
Challenges and Future Prospects
Experts like Daniela Herrmann of Dynex believe DeSci has enduring value beyond speculative activity, enabling collaboration and solving real-world problems. However, the focus on meme coins may risk undermining its credibility.
Kerya warns that without regulatory frameworks, questions about research quality and implementation persist. Stachowiak, however, contends that DeSci adheres to rigorous scientific methods, differing only in funding and ownership.
Could DeSci Be More Than a Fad?
While speculative meme coins have brought attention to DeSci, its core mission of advancing science through decentralized tools suggests lasting potential. If projects achieve notable breakthroughs and gain recognition, DeSci could solidify its position as a transformative force in research and innovation
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