You know the industry is either hitting new strides or devolving into complete degeneracy when the guy who helped create Venmo just launched a meme coin. 

And because crypto's gonna crypto, it pumped 1000% in literal hours.

JELLYJELLY (yes, that's the actual name he chose) quickly hit a $250M market cap shortly after it went live on Solana. 

Oh, but there’s a twist – this isn’t just another dog coin because it has an actual app backing it.

The Launch That Broke Crypto Twitter

Late Wednesday, Iqram Magdon-Ismail (Venmo co-founder) and Sam Lessin (early Venmo investor) dropped their token on Pump.fun. 

After the initial launch, they moved it over to Raydium, and that's when things got spicy.

Solana's co-founder Anatoly Yakovenko couldn't resist throwing some shade at Web2, tweeting, "Finally the greatest talents of our generation are no longer working in advertising."

And just like that, everyone lost their minds.

The pump was insane – but like all good stories in our fun little industry, what goes up has to come down... often as quickly as it went up in the first place.

The market cap took a 45% hit, settling around $140M. Still not a bad valuation for a nascent meme coin.

But Wait, Where’s The App?

It’s in there!

Unlike 99% of meme coins that are just vibes and promises, JELLYJELLY is tied to a real product that's already live on the App Store.

The JellyJelly app lets you record and share video call clips, with AI doing the heavy lifting for captions and social media stuff. 

If you hold the token, you get early access to features (though they're still figuring out exactly how that works… this is still crypto, after all).

And for those wondering why this isn't just another random meme coin pump, let’s review the names we mentioned earlier who threw their weight behind the project. 

Iqram Magdon-Ismail is a galaxy brain that helped build Venmo into what it is today.

He's also not even holding any JELLYJELLY tokens at the moment, though he's considering buying some after seeing the frenzy. 

That's either incredibly honest or incredibly clever marketing. Maybe both.

The Pump.fun Effect

This whole thing went down on Pump.fun, which has become the go-to spot for launching tokens on Solana. 

Since January, they've launched over 6.4 million tokens and pulled in $600M in revenue.

It's stupidly easy to launch there – all you need is a name, ticker, and picture. 

That's probably why we're seeing a new token every five minutes.

Sure, some folks are worried this might hurt Solana – there's talk about people dumping SOL to chase these pumps. 

But when a chain might suffer from its own success, there’s a silver lining somewhere in there. 

What's wild is seeing tech founders from the "normal" world jumping into meme coins – it’s sort of the mass adoption we never expected but sorely needed.

Now if there were only a platform that would cut through the noise and only offer opportunities with real utility…

Enter Asvoria

Well, looks like we’re in luck. 

The recently launched Asvoria platform is doing exactly that, offering high-quality opportunities via its Utility Token Offering (UTO) that helps astute Web3 players avoid the Pump.fun rug pull blues.

With a recent explosion in its ASV’s token price (we’re talking 3000% in just months) and the upcoming launch of several intriguing and well-backed projects, Asvoria is set to redefine what it means to support high-quality projects in the space.

It’s a wide open field for improving upon the groundwork that Pump.fun has laid, and Asvoria is ushering in a new era for meme coins.

We’ll see you there… but not before we cash out our JELLYJELLY bags. 

Whose Jelly Now?

Will JELLYJELLY change the world? Maybe… but probably not. 

But it's showing that the line between "serious" tech and meme coins is getting really blurry.

When Venmo founders start launching tokens, and there's an actual app you can play with while you watch the charts, you know things are getting serious.