Though meme coins have no "inherent" value and are highly volatile, Franklin Templeton said, they maintain a "strong relationship" with their native networks.

In a short research note republished on X Wednesday, the global asset management company used the Solana-based meme coin BONK as an example. "We believe that meme coins have a strong relationship with their native networks," Franklin Templeton said in its report. During the fourth quarter of last year, the "Solana network captured a large percent of activity of all the active addresses during the same time that BONK saw a price surge," the report also noted.

In a chart, Franklin Templeton also outlined how activity has evolved across various networks associated with meme coins, citing blockchains like Ethereum, Arbitrum, Polygon …