- In 2024, 42 cryptocurrencies have surpassed Bitcoin’s year-to-date ROI.
- Meme cash dominate the highest 10, with lots of them listed on Binance.
- The Binance itemizing was a significant contributor to the rise of a number of cash, with tokens corresponding to WIF seeing a 234% improve after itemizing.
A complete of 42 cryptocurrencies have outperformed Bitcoin thus far this 12 months, with meme cash main the best way: 25 of those prime performers are listed on Binance, with eight of the highest 10 being meme tokens, in accordance with information from Lookonchain.
Meme Cash Will Dominate Crypto Positive factors in 2024
Since January 2024, meme cash have grow to be standout performers within the cryptocurrency market.
Market. POPCAT took the highest spot with an astounding year-to-date (YTD) return on funding (ROI) of seven,552%.
Different meme cash corresponding to MOG and NPC additionally noticed robust development with YTD ROIs of two,206% and 1,163%, respectively.
Notably, attributable to its standing as the biggest cryptocurrency alternate, Binance performed a key position in elevating the profile and buying and selling quantity of those meme tokens. Notably, 4 of the best-performing meme cash had been listed on Binance, permitting extra market members to learn from their fast worth will increase.
Binance’s affect on cryptocurrency development
Of the 42 cash which have outperformed Bitcoin this 12 months, 25 are listed on Binance. The alternate has been behind a number of cash' meteoric rises, with tokens corresponding to WIF up 234% since being listed in 2024.
Even tokens that had been listed on Binance final 12 months, corresponding to ARKM (+1,038%) and PENDLE (+752%), have seen vital development this 12 months.
Based mostly on this report, Lookonchain argued that Binance’s itemizing technique seems to be centered on cash with development potential, particularly meme tokens and small cap altcoins.
Small caps and alternate tokens dominate
Among the many unlisted cash, LookonChain discovered, had been 4 alternate tokens, together with MX and LEO, in addition to 10 smaller, much less traded property.
Regardless of their low market publicity, a few of these cash have outperformed Bitcoin. Cash corresponding to PEPECOIN and AIOZ, that are categorised as AI or small cap tokens, have seen average development in 2024 however aren’t listed on main exchanges.
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