Syncrace Capital co-founder: Social trading app will give birth to a new generation of individual traders

According to Bitcoin.com News, Ryan Watkins, co-founder of Syncrace Capital, stated that the social trading app will integrate market data, trading records, discussion, and execution functions, and in the future, there will be individual traders showcasing nine digit trading results. DefiLlama data shows that as of the week ending August 24th, the weekly trading volume of social trading applications was close to $1.3 billion. The daily active users of Fomo and Pump are approximately 60000 to 100000, and social trading applications account for about 33% of Hyperliquid developer code transactions. Pump has paid over $450 million in rewards to token deployers, and users typically pay a 2% to 3% fee when redeeming Meme coins. The US Securities and Exchange Commission (SEC) has warned that social media recommendations may involve boosting shipments, undisclosed promotions, scalping trades, and impersonation behavior, and insufficient liquidity of Meme may also limit large-scale copy trading.