Solana-based meme cash have considerably outperformed their Ethereum-based counterparts in 2024, yielding a mean return of 8,469% as in comparison with Ethereum’s 962%, per the “CMC 2024 H1” report.
As per the report, the explosive rallies of WIF and BONK on Solana have drawn important consideration and capital from different blockchains, making a cycle of elevated meme coin efficiency and funding. Whereas meme cash exist throughout varied blockchains, Solana and Ethereum lead in exercise and buying and selling quantity.
Ethereum meme cash are extra well-known as a result of they have been primarily launched in 2023 or earlier. In distinction, most Solana meme currencies got here onto the scene in late 2023 or early 2024, capitalizing on the surge in consideration on the time.
Political meme tokens have turn out to be a distinguished subgenre contained in the $57.7 billion meme forex market with a market valuation of $784 million. The MAGA (TRUMP) meme coin has elevated in worth by greater than 5,100% this yr due largely to Trump’s open endorsement of cryptocurrencies and his acceptance of cryptocurrency contributions for his marketing campaign.
The distinctive efficiency of Solana-based meme cash underscores a rising shift in speculative investments inside the crypto house. This development just isn’t solely reshaping the dynamics between completely different blockchain ecosystems but additionally highlights the growing integration of political narratives inside the meme coin market.
As crypto turns into a major matter for the upcoming November US elections, political meme cash are anticipated to proceed attracting speculative curiosity, additional driving their market exercise and worth.
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