Summary:
- This article discusses the recent surge in the price of a cryptocurrency called "Useless" in South Korea, driven by influential Korean crypto personalities (known as "KOLs") promoting it on social media.
- The rally in Useless token occurred despite the lack of any real-world utility or use case for the cryptocurrency, highlighting the speculative nature of the crypto market and the power of social media influencers in driving price movements.
- The article suggests that traditional market narratives, such as macroeconomic factors or project fundamentals, have become less relevant in the crypto space, as traders increasingly focus on short-term price action and hype generated by online personalities.