The first half of 2024 has come to a close, and data compiled by on-chain experts reveals the most profitable sectors of the year so far.
According to a report by independent crypto reporter Colin Wu, memecoins have emerged as the most profitable sector in the first half of 2024, surpassing Real World Assets (RWA) and Artificial Intelligence (AI) sectors.
Wu analyzed the price return rate of the top ten tokens in each sector based on their market cap using data from CoinGecko. Memecoins have shown an average return rate of a staggering 2405.1% in 2024. Three of the top ten memecoins by market cap were launched around March-April, including Brett (BRETT), Book Of Meme (BOME), and DOG•GO•TO•THE•MOON (DOG). Brett saw the highest return rate, surging by 14353.54% from its issuance price.
The phrase “value investing is empty, go all-in on MEME to live in the palace” has become popular during this bull market, indicating the growing interest in memecoins.
On the other hand, sectors like DeFi and GameFi have lagged behind memecoins in terms of profitability. Memecoins have shown to be 8.6 times more profitable than the RWA sector, which had a return rate of 213.5%. Sectors like DeFi, GameFi, and Layer 2 have been among the least profitable.
RWA briefly took the lead as the most profitable sector in February, attracting attention from traditional finance players like asset manager BlackRock. Top RWA tokens by market value include Mantra (OM) and Ondo (ONDO), with gains of 1123.8% and 451.12% respectively.
The AI sector, on the other hand, saw an average return rate of 71.6%, with tokens like Arkham (ARKM) and AIOZ Network (AIOZ) recording gains of 215.5% and 192.19% respectively. Sectors like DePIN and Layer 1 have also shown steady growth, with return rates of 58.7% and 43% respectively. Wu noted that DePIN has significant growth potential and has been a sector to watch in this bull market.
In conclusion, memecoins have been the standout performers in the first half of 2024, outperforming other sectors in terms of profitability. Investors and traders have shown a growing interest in memecoins, leading to significant gains for projects like Brett, Book Of Meme, and DOG•GO•TO•THE•MOON. As the year progresses, it will be interesting to see if memecoins can maintain their profitability or if other sectors will catch up.