The most profitable crypto sectors in the first half of 2024 have been revealed
In the year The most profitable sectors of the cryptocurrency industry in the first half of 2024 have been revealed, with memecoins and newly emerging sectors holding the lion's share of profits.
According to data from BitEye, CoinGecko, and Wu Blockchain, memecoins have led the competition by registering an impressive 1,834% return since the beginning of 2024. In second place was the real-world asset tokenization sector, which returned 214% to investors. Artificial intelligence blockchain projects returned a healthy 72%, while decentralized physical infrastructure networks (DePIN) returned 59%.
Digital asset staples Bitcoin (BTC) and Ether (ETH) continue to perform well, with ETH returning 50% year-to-date and Bitcoin 45%.
Additionally, Tier-1 platforms returned an average of 43%, while sectors such as gaming and decentralized finance lagged behind the competition but still managed modest returns of 19% and 3% respectively. However, the Tier-2 sector experienced a significant decline, with total losses averaging about 41 percent.
Related: Memecoins Bucks Bear Market Trends to Record Double-Digit Growth
Memecoin clear
The meteoric rise of memecoins can be partially attributed to the Solana network. In May alone, 541,000 new token projects were deployed on the Solana blockchain. Celebrities and online influencers like Andrew Tate, rapper Lil Pump and Iggy Azalea flocked to the network to launch memecoins. Most of these projects have been accused of insider trading and in some cases pump and dump schemes.
Solana's architecture and focus on user-friendly features, tokenization and smart contract deployment have earned the network the title given to Solana by Pantera Capital as the Mac of blockchain.
Real world property token
No industry analysis would be complete without addressing the real-world asset tokenization sector, which has become a popular topic for institutional investors and banks.
Widely seen as the next frontier of digital assets, real-world asset tokens could eventually comprise $874 trillion in wealth, as global investment funds, stocks, bonds, mutual funds and even real estate migrate off-chain.
Projects like Chainlink (LINK) continue to make strides in bringing the world's assets onto the blockchain, with new partnerships that prioritize asset digitization through distributed ledger technology.
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