- Meme coins, real-world assets, and AI accounted for 36% of all CoinGecko traffic.
- Meme coins on Solana and Base blockchains were the most popular.
- In Q2 2024, Ethereum added 120,000 ETH to the circulating supply.
CoinGecko released its most recent crypto assessment on July 16, highlighting crypto market highlights and trends for Q2 2024. Data suggests that projects in the meme coin, real-world asset (RWA), and artificial intelligence (AI) sectors were the most popular, accounting for 36% of all CoinGecko site traffic categories for the quarter.
Meme coins; tokens inspired by internet memes and trends, topped CoinGecko’s crypto narrative chart, accounting for 14% of all listed crypto categories. The top 5 meme coins include Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Dogelon Mars (ELON), and Bonk (BONK). As per CoinMarketCap data, the total market capitalization of meme coins increased 2.8% in the last 24 hours, standing at $5.9 billion.
Meme coins on Solana and Base blockchains were the most popular, capturing about 23% of the total market attention. These include WIF, BONK, BOME, and others.
Tokenized real-world assets, such as real estate, accounted for 11% of web traffic among CoinGecko-listed narratives. As previously reported, Polygon recently saw multiple RWA launches and is a favorite of institutions after Ethereum.
Further, AI-related cryptocurrencies made up 10% of web traffic, highlighting the increasing intersection between blockchain technology and artificial intelligence. Top AI digital assets, as per CoinMarketCap, include Near Protocol (NEAR), Fetch.ai (FET), Render (RNDR), Injective (INJ), and Bittensor (TAO).
Beyond meme coins, other major ecosystems such as Solana, Ethereum, Base, and The Open Network (TON) also made it into the top 15 crypto narratives. TON’s popularity surged amid Telegram’s crypto initiatives. The social messaging platform announced it would debut a mini app store with an in-app Web3 browser and aims to be the “epicenter” of societal transformation via blockchain.
One of the notable insights from CoinGecko’s report is Ethereum’s transition to an inflationary state. In Q2 2024, Ethereum added 120,000 ETH to the circulating supply out of 228,543 ETH released. With 107,725 ETH burned, the network’s total supply increased, marking a shift towards inflation. This means that Ethereum’s purchasing power has declined due to the rise in supply, a critical factor for investors to consider amid the approval of spot Ethereum exchange-traded funds (ETFs).
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