2024 First Half Most Profitable Cryptocurrency Tracks Revealed
With the growing maturity of blockchain technology, the cryptocurrency market has experienced explosive growth in recent years, with Ether (ETH) and Bitcoin (BTC) both rising by nearly 50%.
The first half of 2024 was particularly noteworthy, as the performance of various cryptocurrency assets showcased their immense potential and diversity. From the meme coin frenzy to the rise of Real World Assets (RWA) tokenization and the steady growth of AI blockchain projects, each track demonstrated unique advantages in the fiercely competitive market.
According to data from BitEye, CoinGecko, and Wu Blockchain, meme coins led the market with a return rate of 1,834%, making it the most profitable sector. RWA projects ranked second with a return rate of 214%, followed by AI blockchain projects at 72%, and decentralized physical infrastructure network (DePIN) at 59%.
Which tracks performed the best?
Meme Coin Craze
As of June 19th, the top 10 meme coins by market capitalization included BOOK OF MEME (BOME) and DOG•GO•TO•THE•MOON (DOG), highlighting the success of meme coins largely attributed to the support of the Solana network.
Solana blockchain simplifies token and smart contract deployment, enhancing the user experience and earning the reputation of “Blockchain MacOS.”
In May alone, 541,000 new token projects were launched on the Solana blockchain. These new tokens not only attracted numerous investors but also garnered participation from internet celebrities such as American influencer Andrew Tate, rapper Lil Pump, and Iggy Azalea, who all introduced 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 even faced allegations of pump and dump schemes. However, despite these accusations affecting the reputation of the meme coin market to some extent, it has not hindered the continuous increase in return rates.
Real World Assets (RWA) Tokenization
In addition to meme coins, the tokenization of real-world assets (RWA) has also become a focus of investor attention. 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 interest of many major institutions, including BlackRock, making it a favorite topic among institutional investors and banks. With global investment funds, stocks, bonds, mutual funds, and even real estate gradually migrating 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 1,123.8% and 451.12% respectively since the beginning of the year.
Steady Growth of Artificial Intelligence and Decentralized Infrastructure
In 2024, AI blockchain projects and decentralized physical infrastructure network (DePIN) performances are also worth noting. AI projects ranked third with a return rate of 72%, while DePIN achieved a return rate of 59%.
The AI track has been widely watched since the end of 2023. Among them, Arkham (ARKM) had the highest return rate at 215.50%. This performance once again proves 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 like JasmyCoin (JASMY), which sells data generated by Internet of Things (IoT) devices to various companies, have performed exceptionally well. JASMY 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) also achieved return rates of 174.07% and 116.06% respectively.
In comparison, the GameFi and Decentralized Finance (DeFi) tracks have relatively lagging performances in the first half of 2024. GameFi achieved a return rate of 19.1%, while DeFi only had a 3% return rate.
Based on the market conditions in the first half of the year, the GameFi track has yet to produce blockbuster projects. Although it has attracted significant funding, the overall market rotation has been relatively low. Among the high market value GameFi tokens, FLOKI had the highest return rate at 362.79%.
In the first half of 2024, the cryptocurrency market experienced significant changes and reshuffling. In this volatile market, investors need to remain cautious and closely monitor market dynamics to seize the next wave of opportunities.
References:
Cointelegraph
,
Wu Blockchain