"Fulamak! Memecoin's performance is the most prominent, who bought it must now have made a lot of profit?"
Revealed by Crypto Koryo, memecoin's performance was the best among cryptocurrencies so far in 2024 compared to DeFi and governance tokens which reportedly performed the worst.
Pleased to note that memecoin has been one of the most successful cryptos of the year following most of them climbing over 1,000% in the first half of 2024.
In the category of best performing tokens among the top 200 cryptoassets, Mog Coin (MOG), Mantra (OM), Dogwifhat (WIF) and Arcblock (ABT) were the most prominent digital assets with their respective prices rising over 1,000%.
Not only that, Pepe Coin (PEPE), People (PEOPLE) and Floki Inu (FLOKI) also recorded significant gains among memecoins since January 2024 where they respectively jumped by 697%, 545% and 376%.
In addition to memecoin, altcoins such as Toncoin (TON), Arweave (AR), Near Protocol (NEAR), Binance Coin (BNB), Fetch.ai (FET) and AIOZ Network (AIOZ) have performed strongly in the first half of the year.
It should be noted that the increase in the price of TON may have been triggered by several integrations and partnerships across its ecosystem including the joint partnership of Telegram and Tether (USDT).
On the other hand, tokens such as Optimism (OP), Arbitrum (ARB), Enjin (ENJ), Terra (LUNA) and Curve DAO (CRV) were found to be underperforming due to experiencing more than 50% decline since the beginning of the year with the majority being tokens founded from projects or networks DeFi.
Other tokens included in the worst performing digital asset category by market capitalization are DYDX, MINA, WOO and Astar (ASTR).