Crypto traders had been closely drawn to meme belongings in 2024, in keeping with a brand new examine.
In a analysis paper, CoinGecko says that almost all of crypto curiosity in 2024 hit the memecoin sector, which noticed an enlargement from dog-themed tokens to different animal and personality-themed digital belongings.
“The preferred crypto narrative in 2024 was by far the memecoin narrative, which captured a mixed 30.67% of world investor curiosity throughout the principle memecoin narrative and 25 memecoin tendencies.
In different phrases, nearly a 3rd of crypto narrative curiosity this 12 months was targeted on extra speculative alternatives with much less emphasis on fundamentals, because the market expanded quickly from dog-related memecoins to different animal-and personality-themed memecoins.
Particularly, the principle memecoin narrative ranked 1st with a 14.36% share of crypto narrative curiosity. This represents a 6.04 share level improve from the memecoin narrative’s 8.32% share of curiosity final 12 months.”
CoinGecko additionally finds that sensible contract platform Solana (SOL) – identified for being rife with memecoin exercise – additionally drew a big quantity of dealer curiosity in 2024. Base, the blockchain of prime US-based crypto alternate Coinbase, additionally drew notable curiosity.
“Solana-related narratives captured a mixed 14.30% share of investor curiosity, placing it shut behind the AI narrative by way of recognition. Whereas Solana memecoins drove nearly half of consideration in the direction of the chain, traders continued to have an interest within the broader Solana ecosystem, which ranked because the fifth hottest narrative with 5.78% of investor curiosity…
In the meantime, two Base-related narratives additionally entered the highest 20 rankings this 12 months, on the again of the chain’s strengthening recognition. Altogether, the Base ecosystem and the Base memecoins narratives accounted for 4.87% of investor curiosity.”
SOL is buying and selling at $199 at time of writing.
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