Most Profitable Cryptocurrencies in 2024: CoinGecko Report
CoinGecko has highlighted the most profitable cryptocurrencies in the first quarter of 2024 that have surpassed Bitcoin.
It's no secret that memecoins have become the new trend in the cryptocurrency market in 2024. Analysts from CoinGecko counted as well and singled out this sector as the most profitable in the first quarter of this year. The top ten in terms of market capitalization were memecoins that managed to get on the last wagon in March. Among them are Book of Meme (BOME), Brett and Cat in a Dogs World (MEW), etc.
Surprisingly, the most popular Solana-based memecoin, Dogwifhat (WIF), was not the leader among the memecoins that showed the highest returns over the period. BRETT token took the first place with a return of + 7,727.6%, followed by Dogwifhat (WIF), which grew by 2,721.2% by the end of the quarter.
Not only was the memecoin sector the most trending sector in the cryptocurrency market, but it outperformed its closest competitor, the RWA-token sector, by a factor of 4.6. Among the popular tokens of the RWA sector are MANTRA (OM) and TokenFi (TOKEN), whose returns for the quarter amounted to 1,074.4% and 419.7%, respectively.
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Leaders in the AI token sector, following RWA, were AIOZ Network (AIOZ) with a return of 480.2% and Fetch.ai (FET) with a return of 378.3%.
DeFi tokens that performed well included Jupiter (JUP) with a 125.7% return, Maker (MKR) with 121.2% and The Graph (GRT) with 111% for the first quarter.
Memecoins had an average return of 1,312.58%, RWA with 285.61% and AI tokens with 221.95%. Surprisingly, the DeFi, DePIN, L1, GameFi sectors outperformed the L2 solutions sector, which was one of the most promising sectors of the crypto market at the end of last year.
Of all the major L2 coins, Arbitrum (ARB) suffered the most with a 5.6% return, Polygon (MATIC) with a 1.2% return, and Optimism (OP) ended the quarter with a slight decline of 1.2%.
