2024 noticed huge positive factors for the crypto market, however meme cash dominated the narrative.
Owing to its notable resurgence, a number of meme cash even emerged as a few of the top-performing cryptocurrencies of the 12 months, contributing to the rise of recent crypto millionaires alongside the best way.
Speculative Meme Cash Take Over Crypto
In response to CoinGecko’s report, meme cash captured greater than 30% of the worldwide investor curiosity, which was distributed throughout the central area of interest narrative and 25 totally different tendencies associated to them.
This implies that almost one-third of the main target in crypto was on speculative investments, the place fundamentals took a again seat, with the market quickly diversifying from dog-themed cash to different meme tokens impressed by animals and public figures.
The first meme coin narrative itself emerged as the most well-liked, accounting for 14.36% of complete crypto narrative curiosity, reflecting a substantial 6.04 share level rise from final 12 months’s 8.32%. Apart from the overarching meme coin class, different particular tendencies additionally gained consideration.
Solana-based meme tokens secured 4th place with 7.65% of the narrative curiosity, whereas Coinbase-incubated Ethereum Layer 2 Base property ranked eleventh at 2.13%. In the meantime, AI-themed and cat-centric meme cash rounded out the highest 20, with 1.49% and 1.19% of curiosity, respectively.
AI, RWA, DePIN Trails Behind
The substitute intelligence (AI) narrative was one other outstanding subject within the crypto market in 2024, attracting a complete of 15.67% of investor curiosity throughout the overall AI narrative and 5 different AI-related sub-trends. The primary AI narrative ranked second general, holding 12.58% of investor consideration.
Whereas this represented a 1.26 share level enhance from final 12 months’s 11.32%, it was nonetheless overshadowed by the meme coin narrative by way of recognition.
The real-world assets (RWA) and DePIN narratives had been among the many most notable tendencies to expertise a surge in curiosity in 2024 in comparison with the earlier 12 months. The RWA narrative noticed its share of investor focus rise by 2.16 share factors, from 6.48% in 2023 to eight.64% in 2024, which additionally boosted its rating from sixth to third.
Equally, the DePIN narrative noticed a optimistic shift, with its share of curiosity rising by 1.56 share factors, permitting it to climb from thirteenth to eighth place. However, the GameFi narrative confronted a decline in recognition, as its share dropped by 6.77 share factors, from 10.49% in 2023 to three.72% in 2024.
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