Title: Revealing the Most Profitable Cryptocurrency Tracks in the First Half of 2024
As the blockchain technology continues to mature, the cryptocurrency market has experienced explosive growth in recent years, with Ethereum (ETH) and Bitcoin (BTC) both surging by nearly 50%.
The first half of 2024 has been particularly noteworthy, showcasing the immense potential and diversity of various crypto assets. From the meme coin frenzy to the rise of Real World Assets (RWA) tokenization and the steady growth of AI blockchain projects, each track has demonstrated unique advantages in the fiercely competitive market.
According to data from BitEye, CoinGecko, and Wu Blockchain, meme coins have taken the lead with a staggering 1,834% return rate, making it the most profitable sector. RWA projects rank second with a return rate of 214%, followed by AI blockchain projects at 72%, and decentralized physical infrastructure network (DePIN) at 59%.
Which tracks have performed the best?
Meme Coin Mania
As of June 19th, the top 10 meme coins by market capitalization include BOOK OF MEME (BOME) and DOG•GO•TO•THE•MOON (DOG). The success of meme coins can largely be attributed to the support of the Solana network.
Solana blockchain simplifies token and smart contract deployment, providing developers and users with a better user experience and earning the reputation of “Blockchain MacOS.” In May alone, Solana blockchain witnessed the creation of 541,000 new token projects. These new tokens have not only attracted numerous investors but also garnered the participation of many internet celebrities, such as American influencer Andrew Tate, rapper Lil Pump, and Iggy Azalea, who have all launched their own meme coins.
The rapid rise of meme coins has also been accompanied by some negative news. Many projects have been accused of engaging in insider trading activities, and some have even been accused of pump and dump schemes. However, despite these allegations impacting the reputation of the meme coin market to some extent, it has not hindered the continuous increase in its return rate.
Real World Asset Tokenization (RWA)
Apart from meme coins, the tokenization of real-world assets (RWA) has also become a focal point for investors. This track achieved a return rate of 214% in the first half of 2024, ranking second after meme coins.
The concept of RWA has attracted the attention of many major institutions, including BlackRock, and has become a favorite topic among institutional investors and banks. As global investment funds, stocks, bonds, mutual funds, and even real estate gradually migrate to the blockchain, this track is seen as having the potential to reach a wealth of up to $874 trillion.
Some tokens within the RWA track have performed exceptionally well. For example, MANTRA (OM) and Ondo (ONDO) have achieved return rates of 1123.8% and 451.12% respectively since the beginning of the year.
Steady Growth of AI and Decentralized Infrastructure
In 2024, AI blockchain projects and decentralized physical infrastructure network (DePIN) have also shown promising performance. AI projects rank third with a return rate of 72%, while DePIN has achieved a return rate of 59%.
The AI track has been widely followed since the end of 2023. Among them, Arkham (ARKM) has achieved the highest return rate of 215.50%, reaffirming the importance of AI technology in the future digital economy.
Another popular keyword this year, DePIN, is considered one of the tracks with enormous growth potential. Projects such as JasmyCoin (JASMY), which sells data generated by Internet of Things (IoT) devices to various businesses, have performed exceptionally well. JASMY has achieved a return rate of 323.42%. Other projects like decentralized cloud data storage Arweave (AR) and decentralized live video streaming network protocol Livepeer (LPT) have also achieved return rates of 174.07% and 116.06% respectively.
In comparison, the GameFi and DeFi tracks have relatively lagged behind in the first half of 2024. GameFi achieved a return rate of 19.1%, while DeFi only reached 3%.
Based on the market conditions in the first half of the year, the GameFi track has yet to produce breakout projects. Although it has attracted considerable funding, the overall market rotation has been limited. Among the high market cap GameFi tokens, FLOKI has performed the best with a return rate of 362.79%.
The cryptocurrency market has undergone significant changes and reshuffling in the first half of 2024. In this volatile market, investors need to exercise caution and closely monitor market dynamics to seize the next wave of opportunities.
References:
– Cointelegraph
– Wu Blockchain
