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First half of 2024: Major cryptocurrency sectors revealed
As we near the end of the first half of 2024, three narratives are driving the surge in profitability: meme coins, real-world assets (RWA), and artificial intelligence (AI). Meme coins recorded the highest profitability, marking a fundamental shift in cryptocurrency dynamics and investor preferences.
As the year progresses, some investors may prefer to monitor these sectors closely for further breakouts.
Meme Coins See Gains Over 1,800% in the First Half of 2024
In the first half of 2024, meme coins exploded in profitability, reaching an average rate of return of 1834.22%. New tokens like Brett (BRETT) AND BOOK OF MEMES (BOME) has captured the imagination and wallets of investors, with BRETT rising an astonishing 14,353.54% from its launch price.
“While it is obviously not wise to get all caught up in memes (or any industry), memes are simply where the funds and volume are, those who have faded them have lost a lot,” MacroCRG She said.
This trend highlights a market shift away from conventional value investing towards speculative and trend-driven opportunities.
To know more: 7 Hot Meme Coins and Altcoins That Are Trending in 2024
RWAs have emerged as the second most profitable sector, recording a rate of return of 213.49%. Leading institutions, including BlackRock, have given impetus to this sector.
RWA’s performance was fueled by significant and positive asset tokenizations regulatory discussions. This trend connects blockchain technology with tangible assets, merging digital finance with the physical world.
The artificial intelligence sector also showed excellent performances. With an average rate of return of 71.56%, it ranked third. Tokens like Arkham (ARKM) AND AIOZ Network (AIOZ) has seen impressive gains, reflecting the growing integration of artificial intelligence with blockchain technology.
Crypto sector returns ranking. Source: Wu Blockchain/Biteye
Despite the surge in these once dominant sectors DeFi sector has struggled, overshadowed by the returns of meme coins, RWA and AI. In the meantime, Bitcoin (BTC) has increased by 45% since the beginning of the year and Ethereum (ETH) it increased by 49.65% in the same time frame.
Despite the excitement around these lucrative sectors, investors should proceed with caution. The volatile nature of meme coins, the regulatory uncertainties of RWA, and the nascent stage of AI integration pose risks. However, the substantial gains seen also present unique opportunities for the bold.
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