Memecoins: The Driving Force of the Crypto Market in 2024
In the first half of 2024, memecoins demonstrated the highest profitability (1834%) among all cryptocurrency sectors. Following far behind were Real World Assets (RWA) – tokenized real assets, including BlackRock products, with a growth of 213%.
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In the first half of 2024, memecoins demonstrated the highest profitability (1834%) among all cryptocurrency sectors. Following far behind were Real World Assets (RWA) – tokenized real assets, including BlackRock products, with a growth of 213%.
Top-performing memecoins like BOME, BRETT, and DOG, only entered the market in March-April 2024. For example, BRETT's value surged by 14353% since its debut. Among RWAs, OM and ONDO were notable, with price increases of 1123% and 451%, respectively.
Profit margins in the crypto industry from the start of 2024. Source: Wu Blockchain
The artificial intelligence sector secured third place (71%), though it recently led over RWA. Bitcoin, however, trails with a growth rate of 45%. Layer 2 blockchains (Optimism, Arbitrum) experienced a negative trend (-40%), despite steady growth in Layer 1 networks.
Analysts calculated each sector's profitability using the average growth of the top ten coins by market capitalization. The review excluded certain specific blockchains and coins with high market capitalization to prevent potential distortion of actual statistics.
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