Have you ever felt overwhelmed by the pace and complexity of change around you? That feeling multiplied a thousandfold in a country grappling with acute social and economic turmoil from COVID-19. That might help illuminate the weird phenomenon of $USELESS going to the moon in South Korea. Far too easy to write off as just another meme coin craze, just another blip on the volatile crypto landscape. I think it's something far more profound: a symptom of deep-seated anxieties and a desperate search for a lifeline in a sea of economic uncertainty.

Is It Just a Meme Coin?

On the surface, $USELESS is exactly what it sounds like: a token with no inherent value, no roadmap, no stated purpose other than… well, nothing. However, it’s luring Korean crypto investors, especially the younger generation. Why? The traditional story paints an image of those foolish investors looking to make a fast fortune. They’re malleable under the sway of industry figures like Yeomyung, whose every financial move is tracked with hawk-like vigilance. From his success creating the initial Trump-themed coins to his ability to survive economic downturns, he gives off an air of credibility. Let’s face it—these days, the world isn’t exactly short on scams and rug pulls. In that environment, though, leaning into transparency is honestly quite liberating!

To end the story there is to miss the forest for the trees. In this country, success is supposed to be an intrinsic birthright. Competition is intense and there’s an impression among many that economic or educational opportunities are limited. Unemployment rates for young people are higher than ever — listening to & acting on young people’s concerns is crucial! The pressure to fit in, the pressure to perform, pressure to win — it’s overwhelming.

I sat down with Ji-hoon, a 28-year-old Seoulite. He balances a part-time job while writing for dozens of entries every day, and we talked about his stake in $USELESS. I understand that it’s dumb,” he confessed, “What other option do I have? I’m killing myself trying to make ends meet and am still not able to even get by. The stock market? Forget it. Real estate? A pipe dream. This… this is a lottery ticket. Perhaps, just perhaps, it’ll be my ticket to freedom.

His words, raw and vulnerable, echo a sentiment I've heard repeatedly: a sense of hopelessness, coupled with a desperate gamble on a long shot. It’s not even all about the money. People crave a sense of agency in a time when so much feels beyond their control.

Cultural Disillusionment, Financial Hope

Think about it: what does it say about a society when its young people embrace something explicitly useless? It questions the constant drive to be more efficient. It dares to resist the hustle culture imperative to constantly be working. It's almost punk rock in its nihilism. USELESS represents the underlying feelings of disillusionment. In so doing, it becomes a potent articulation of their anger at a system that seems to be rigged against them.

The popularity of $USELESS oddly brings to mind the Dada art movement that emerged following World War I. The theme of the artists’ struggle was the confrontation between war’s cruel realities and the dissolution of old value. In return, they countered with nonsense and absurdity to most accurately convey their collective anger and disappointment. What $USELESS teaches us The Dadaism of the crypto world Is $USELESS the Dadaism of the crypto world? Perhaps.

Indeed, active $USELESS insiders from platforms such as Solana’s Jupiter are plentiful. Still another layer of cynicism comes in that they’re the ones who are always looking for a CEX listing and/or exit. It suggests that even within the "decentralized" world of crypto, the old rules still apply: those in the know often benefit at the expense of the masses.

A Global Cry for Help?

The Korean experience isn't unique. Similar trends are taking place across the globe—from Canada to Australia, and beyond. Increasing numbers of young people are seeking refuge in increasingly speculative assets as a response to economic difficulty and social anxiety. From meme stocks to NFTs, the allure of quick riches is powerful, especially when traditional pathways to financial security seem blocked.

“Are youths turning to crypto as a form of protest? Are they indicating their frustration with the current situation by experimenting with this new digital currency? Not surprisingly, I believe the answer is an overwhelming yes.

  • Actionable Advice: Don't dismiss these trends as mere fads. Look deeper. Understand the underlying anxieties and motivations driving them.
  • Problem-Solving: We need to address the root causes of economic inequality and social pressure. We need to create opportunities for young people to thrive, not just survive.
  • Explainers: Educate yourself about the risks and rewards of crypto investing. Don't fall prey to hype and FOMO.

Similarly, the meteoric rise of $USELESS in South Korea should be a warning. In these ways and more, it reminds us to continue to listen to the voices of the disillusioned. This is not just a threat to crypto, but to the future of our society. Are we going to do what it takes to build a world that makes young people feel empowered and hopeful? Or will we default to continuing down a track that creates more $USELESS tokens and further despair?