#Sony's Blockchain Push Faces Obstacles#

Sony's blockchain subsidiary recently launched the mainnet for its Ethereum Layer-2 Soneium, aiming to serve content creators and their communities. However, the move has been met with strong opposition from memecoins. Analysts point out that Sony's blockchain release faces a backlash from memecoins, possibly due to the popularity and hype surrounding memecoins, and questions about the actual application and value of Sony's blockchain. Additionally, Bitcoin analysts are reconsidering Trump's inauguration strategy, as Trump's campaign promises in support of cryptocurrencies raised higher expectations, while the reality is that the political machinery in Washington typically moves at a slow pace. As the inauguration approaches, the appeal of sell-the-news has diminished. On the other hand, the trend of corporate Bitcoin holdings is gaining traction, with companies like MicroStrategy buying Bitcoin being a "largely ignored megatrend," and the number of corporate holders is about to "explode" as reputational risks decrease and new FASB accounting rules are introduced.