Based on CoinGecko’s website traffic, the most popular stories in Q2 2024 were Mimecoin, Real Assets (RWA), and AI.
CoinGecko released its latest cryptocurrency industry report on July 16, outlining key milestones and events in the cryptocurrency market for Q2 2024.
According to CoinGecko data, MemeCoin, RWA, and AI were the top three narratives in Q2 2023, accounting for 36% of all CoinGecko web traffic categories during the quarter. As the report shows, the share is similar to Q1 2024.
Memecoin to Dominate Cryptocurrency Talk in Q2 2024
Memecoins, cryptocurrencies inspired by internet memes or trends, topped CoinGecko’s Crypto Narrative Chart, making up 14% of all cryptocurrency categories listed on CoinGecko.
Real-world assets (tokenized real-world assets such as real estate) accounted for 11% of web traffic among narratives listed on CoinGecko, while AI accounted for 10%.
According to the report, Solana and Base are the two most popular Mimecoin ecosystems, accounting for approximately 23% of total market interest.
In addition to Mimecoin, Solana, Ethereum, Base, and The Open Network (TON) were also included in the top 15 cryptocurrency-related topics.
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Mimecoin has emerged as one of the biggest trends in the cryptocurrency industry in 2024, recording the highest average return of 1,312% among the top tokens by market cap.
While Mimecoin has generated record profits, it has also raised controversy and concerns about whether these tokens are fulfilling the original purpose of cryptocurrencies.
Some prominent crypto figures, such as Tether CEO Paolo Ardoino, are skeptical of Mimecoin because it is “on the complete opposite end of the spectrum” from Bitcoin.
Ethereum to turn inflationary in Q2 2024
Among other insights in CoinGecko’s cryptocurrency industry report, the firm noted that Ethereum has experienced inflation, meaning its supply has increased, reducing its purchasing power.
According to CoinGecko, Ethereum added 120,000 ETH (Ether) to the circulating supply in Q2 2024, with 228,543 ETH being released. With 107,725 ETH being burned, the Ethereum network turned inflationary during the last quarter.
As previously reported, following the implementation of Ethereum’s Dencun upgrade in March 2024, Ethereum supply broke out of deflation for the first time in May 2024.
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