RWA is the best-performing crypto sector in Q2
According to Artemis, a leading data aggregator, the average growth of tokens backed by real-world assets (RWA) soared nearly 28% in the second quarter, eclipsing growth in other sectors of the cryptocurrency realm. The performance analysis by Artemis included tokens such as Ondo (ONDO), Mantra (OM), Clearpool (CPOOL), and Maple (MPL).
While Bitcoin (BTC) and Ethereum (ETH) experienced declines of 10% and 2% respectively during the same timeframe, the only other segment to exhibit an uptick was that of tokens associated with centralized exchanges, marking an approximate 7% increase.
The significance of these figures is heightened when juxtaposed with the broader cryptocurrency market's average downturn of -34.6% in Q2. The "Utilities and Services" category, featuring tokens like ENS, SAFE, and ANKR, managed to outperform the market average despite a 17% descent.
Contrastingly, memecoins, despite being a highlight in Q1, faced an average reduction of 33% in the second quarter. Artemis pinpoints Floki Inu (FLOKI), Dogwifhat (WIF), and Memecoin (MEME) as notably underperforming meme tokens during this timeframe.
In the same vein, tokens tied to artificial intelligence, once hailed as a pivotal narrative within the cryptographic sphere for this cycle, suffered the steepest average drop of 60.7% in Q2. Additionally, the Bitcoin decentralized finance (DeFi) landscape witnessed a substantial 58% decline, notwithstanding the surge in interest following the introduction of Runes post-halving.
The report further outlined underperformance in several other domains, including tokens unique to decentralized exchanges, gaming, social finance (SocialFi), decentralized applications (dApps), and oracles, all trailing behind the overall market average.
