The most profitable sectors of the cryptocurrency industry in the first half of the year…

The most profitable sectors of the cryptocurrency industry in the first half of 2024 have been revealed, with memes and new emerging sectors taking the lion’s share of profits.

According to data from BitEye, CoinGecko and Wu Blockchain, meme currencies dominated the competition by returning a staggering 1,834% since the start of 2024. In second place was the real-world asset tokenization sector, which returned 214% to investors. AI blockchain projects generated healthy returns of 72%, while decentralized physical infrastructure networks (DePIN) saw returns of 59%.

Underlying digital assets Bitcoin (BTC) and Ethereum (ETH) continued to perform well, with Ethereum posting year-over-year gains of 50% and Bitcoin returning around 45%.

Additionally, leading platforms generated average returns of 43%, while sectors such as gaming and decentralized finance lagged behind the competition but managed to post modest returns of 19% and 3%, respectively. However, the secondary sector has seen a notable decline, with total losses averaging around 41%.

Distribution of profitability by sector. Sources: BitAi, Wu Blockchain

about: Memecoins Reverse Market Downtrends to Record Double-Digit Growth.

Memecoin mania

The rapid rise of memcoins can be partly attributed to the Solana network. In May, 541,000 new token projects were created on the Solana blockchain alone. Celebrities and online influencers like Andrew Tate, rapper Lil Pump and Iggy Azalea have flocked to the network to debut their own memes. Many of these projects have been accused of insider trading and, in some cases, pump and dump schemes.

Solana’s architecture and focus on easy-to-use features that simplify the deployment of tokens and smart contracts have earned the network the reputation of being the MacOS of blockchain, a title bestowed on Solana by Pantera Capital.

Real-world asset tokenization

No industry analysis can be complete without addressing the thriving real-world asset tokenization industry, which has become a favorite topic for institutional investors and banks.

The tokenization of real-world assets is widely seen as the next frontier for digital assets and could ultimately encompass $874 trillion in wealth, as investment funds, stocks, bonds, mutual funds and investment and even real estate of the world are migrating through the chain.

Projects like Chainlink (LINK) continue to make progress toward integrating global assets into blockchain, with new partnerships prioritizing the digitalization of wealth through distributed ledger technology.

review: “Moral responsibility”: can blockchain really improve trust in AI?

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