Are Meme Coins the Most Profitable Cryptocurrency Niche so far in 2024?

The first half of 2024 has come to an end, and Chain experts have compiled data to determine the profitable sectors so far in the year.

according to coverage According to independent cryptocurrency reporter Colin Wu, memecoin has become the most profitable sector in the first half of 2024, followed by real-world assets (RWA) and artificial intelligence (AI).

Memecoins emerge as the most profitable

Wu analyzed the average price return of the top 10 coins by market cap in each sector using data from CoinGecko by comparing the average daily price return to their prices at the beginning of the quarter. Icons were selected based on their ratings on the last day of the quarter.

Memecoins recorded an average return rate of 2,405.1% in 2024. As of June 19, three of the ten largest Memecoins by market cap were tokens launched in the March-April period. They include Brett (BRETT), Book Of Meme (BOME), and DOG•GO•TO•THE•MOON (DOG).

BRIT achieved the highest rate of return, rising 14,353.54% from its issuance price, while DogWift (WIF), another prominent project, rose 933.93%.

“In the past few months, the phrase ‘value investment is empty, use all MEME to live in the palace’ has gradually become one of the slogans of this bull market,” Wu said.

DeFi and GameFi are lagging behind

The profitability of memes is 8.6 times higher than the RWA sector, which achieved a return rate of 213.5%, and at least 500 times more than the less profitable sectors, which include decentralized finance (DeFi), GameFi, and Layer 2.

RWA briefly became the most profitable sector in February as it was heavily discussed in traditional finance, with giants like asset management firm BlackRock investing in it. The top RWA tokens by market cap include Mantra (OM) and Ondo (ONDO), which recorded gains of 1,123.8% and 451.12% respectively.

Furthermore, the AI ​​sector saw an average return rate of 71.6%, with tokens like Arkham (ARKM) and AIOZ Network (AIOZ) recording gains of 215.5% and 192.19%, respectively.

Sectors such as Decentralized Physical Infrastructure Networks (DePIN) and Layer 1 have seen steady growth, with yield rates reaching 58.7% and 43% respectively. Wu said DePIN has huge growth potential and is one of the sectors that is benefiting from this emerging market.

Special Offer (Sponsored)

$600 Free from Binance (Exclusive to CryptoPotato): Use this link to register a new account and get an exclusive $600 welcome offer on Binance (Full details).

Limited Offer for 2024 at BYDFi Exchange: Welcome Bonus up to $2,888, Use this link to register and open a position of 100 USDT-M for free!

CoinscryptocurrencyMemenicheProfitable
Comments (0)
Add Comment