Odaily Planet Daily News pump.fun co-founder Alon Cohen said that most technical altcoins have the same value proposition as meme coins, but with low circulation, high FDV, and VC involvement, who are notorious for using retail traders as exit liquidity.
Cohen responded to a post suggesting that the platform disrupts the altcoin price cycle and said pump.fun existed a few months before the altcoin sector experienced a downturn starting in April 2024.
"Retail investors suffered too much losses in the last cycle to come back to invest in the 'future of finance'," Cohen wrote, explaining the altcoin crash in April 2024.
Cohen said, "Most people with day jobs don't care about technology, they care about personal achievement" and want to make a moderate amount of money in trading while having fun.
The social media exchange highlights the growing tension between technical altcoin investors who value utility and traders who speculate on asset prices without proven use cases.