CoinMarketCap's flagship 'According To CMC' report includes crypto market analysis, key narratives and user trends, informed by world-class crypto data and CMC user insights.
DUBAI, UAE, July 9, 2024 /PRNewswire-PRWeb/ -- , "Home of Crypto" and the world's most trusted source of crypto data, insights, and community, launches its latest ' for H1 2024, including market analysis, key narratives and user trends informed by world-class crypto data and CMC user insights.
Alice Liu, Research Lead at CoinMarketCap, said " As the first institutional-dominant cycle, we saw both Bitcoin ETF accumulation and anticipation of the Ethereum ETFs drive the market, alongside Real World Asset adoption led by BlackRock's BUIDL fund, which witnessed a $453M inflow in less than three months. Interestingly, retail is nowhere to be found - or maybe they are getting caught up in Meme Coin mania, which have become the most popular category in crypto."
The CMC report shows that, for the first time, Meme Coins have become the most popular category in crypto, flipping the previously dominant Smart Contract, DeFi, and NFT narratives. Meme Coins accounted for 23% of page views on CoinMarketCap, with over 25 million pageviews in June, with the SOL ecosystem trumping that of Ethereum in terms of popularity and attention.
Other narratives such as AI have been trending downwards, reaching only a 6.4% share in June since its peak in February. Stablecoins is the only positive sector that has seen material growth in terms of new listings and market cap. The report shows that all eyes are on crypto policies and politics. Republicans, including former President Donald Trump, are increasingly aligning with the crypto industry, with Trump accepting crypto donations and advocating for digital asset traders. Despite a decline in overall crypto usage among Americans, the industry has won notable victories in Washington, illustrating its growing influence. This includes a significant increase in political spending, with more than $80 million planned for the 2024 elections. Crypto-friendly legislation has even garnered unexpected bipartisan support, with prominent Democrats like Chuck Schumer and Nancy Pelosi emerging as allies.
Driven by the meme-centric market environment, Brazil has become the second largest country according to CMC crypto user traffic, with around 9% market share. It is followed by India (7.57%), Indonesia (6.5%), Germany (6.4%), and Russia (6.2%). Meanwhile, countries such as the USA, United Kingdom, and France, which have traditionally been more focused on BTC/ETH, DeFi, infrastructure, and institutional markets, have seen a decrease in crypto user market share.
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For media inquiries, please contact Phil LeRoy at (310) 260-7901 or Phil(at)MelrosePR(dot)com
About CoinMarketCap
Founded in 2013, CoinMarketCap.com is 'Home Of Crypto', the world's most trusted source of crypto data, insights and community. Its mission is to accelerate the crypto revolution by organizing the world's crypto intelligence and making it easily accessible to all. CoinMarketCap reaches hundreds of millions of users a year through its , , , and social media channels.
Media Contact
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SOURCE CoinMarketCap
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