Anatoly Yakovenko, co-founder of Solana, has criticized NFTs and meme coins, labeling them as 'digital slop' that lacks intrinsic value, despite their significant role in generating revenue for Solana.

The meme coin market on Solana has surged, reaching a valuation of $15.5 billion in July 2025, with platforms like LetsBonk capturing a 70% market share and generating substantial daily fees.

Since its inception, Solana has processed over $431 billion in transactions, with a notable portion attributed to speculative trading of tokens.

The NFT market on Solana has also thrived, achieving $6.6 billion in sales by July 2025, driven by popular collections such as Solana Monkey Business and DeGods.

Currently, Solana's SOL token is trading near $192 and analysts suggest that a breakout above the $200 mark could lead to significant price gains.

Yakovenko has cautioned retail investors about the risks of speculative cycles, questioning the wisdom of purchasing tokens after their prices have dropped.

The rise of meme coins has sparked controversy, with some tokens, particularly politically themed ones, attracting legal scrutiny over their content and intent.

Despite his criticisms, Yakovenko's comments come as memecoins and NFTs continue to drive user engagement and transaction volume on the Solana blockchain, which boasts a market value exceeding $104 billion.

Experts have expressed concerns that while meme coins may boost short-term traffic and revenue for Solana, they might not contribute to sustainable long-term growth.

The ongoing tension between Yakovenko's views and the success of memecoins illustrates a divide between personal opinion and market reality within the cryptocurrency landscape.

Yakovenko's remarks follow a lawsuit against Pump.fun and other Solana partners, alleging they operated an unlicensed meme coin casino that reportedly cost investors $5.5 billion.

His comments reflect a broader debate in the crypto community regarding the true value of digital assets, whether it stems from utility, speculation, or ownership.