The hype of room-temperature superconductor triggers the meme token craze of LK-99 Innovation or cutting-edge?

The hype of room-temperature superconductor triggers LK-99 Innovation meme token craze.

Author: André Beganski, Decrypt

Translation: Felix, LianGuaiNews

With the discovery of a “room-temperature superconductor” called LK-99, excitement about superconductivity has ignited the imagination of the scientific community and the decentralized science (DeSci) movement related to encryption. As expected, many Memecoins have emerged, just like with other hyped topics.

LK-99 is the name of a material that reportedly exhibits “superconductivity” at temperatures as high as 400K (127°C), discovered by a group of Korean scientists last month. While other scientists are attempting to reproduce the results of the paper, this could be a big deal for humanity. This so-called breakthrough could usher in a new era of technological innovation: an era that could completely revolutionize battery storage, drive nuclear fusion, and enable the widespread use of quantum computers.

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However, these details may not be as important to crypto degens. The community that has recently become obsessed with on-chain hamster racing games (such as HAMS and JIM) has now spawned several Meme tokens themed around LK-99 that can be traded on DEXs.

As the potential world-changing impact of LK-99 becomes more apparent, it is undoubtedly expected that someone has deployed a Meme token with a similar name on the blockchain. In fact, at least a few people have done so.

“LK-99,” “Superconductivity,” and “LK-99 Protocol” are three examples of Meme coins with a superconductor theme that have been rising since their launch. Magnetic levitation, known as the Meissner effect, is considered an iconic feature of superconductors. Each token has the same name: LK99. However, each token is distributed on different networks and DEXs, such as Ethereum, Binance Smart Chain (BSC), or Ethereum Layer2 scaling solution Arbitrum.

“LK-99” traded on the decentralized exchange LianGuaincakeswap has risen by 46% in the past day, with a trading volume of approximately $1 million. Among these three Memecoins, “LK-99” is the most recently launched, on August 5th.

“Superconductivity,” which trades on Arbitrum-based Uniswap V3, was launched on August 1st. It is the smallest in terms of market capitalization among this batch of Memecoins, with a market value of $52,000. It has seen a 36% increase in the past day, with a trading volume of $45,000.

“LK-99 Protocol” was launched on Ethereum-based decentralized exchange Uniswap V2 on August 1st. According to CoinGecko’s Gecko Terminal data, the protocol skyrocketed to $0.01 after its launch, with a market value of $1.7 million.

Superconductors seem unlikely to be seen as a field with meme value. Tokens like Dogecoin and Pepe have reached astonishing heights thanks to their origins in internet pop culture. In the field of superconductivity, the concept of materials that allow electrons to flow with zero resistance and no heat generation does sound exciting. However, the discovery of room-temperature superconductors like LK-99 has yet to withstand scrutiny. The Korean Superconductivity and Low Temperature Society has released a statement stating that there is not enough evidence to prove that “LK-99” is a room-temperature superconductor. The future realization of room-temperature superconductivity with LK-99 remains to be verified. Therefore, as the scientific community seems unable to independently reproduce LK-99, the value of Memecoins also seems to be heading towards the end.

Memecoin has high volatility. LianGuaiNews reminds users to be cautious and mentions that the aforementioned superconductive Meme tokens do not constitute investment advice. DYOR (Do Your Own Research) after all, there have been numerous cases of Meme coins collapsing. Last week, “BALD” attracted a lot of attention in the market, but its collapse was as rapid as its initial surge.

Related reading: A complete analysis of the BALD market manipulation incident: How much money did the mastermind make behind the scenes?

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