After the Bitcoin spot ETF was officially approved for trading at the beginning of this year, the crypto market experienced a sharp rise. In addition to Bitcoin, some meme coins also performed very well. Although the market has been in a downward trend since April this year, some tokens still have good market performance overall.
Recently, Forbes announced the ten best-performing cryptocurrencies with a market capitalization of more than $1 billion in the first half of 2024, including $WIF, $PEPE, $ASI, $FLOKI, $JASMY, $AR, $CORE, $TON , $BGB and $BONK. It is worth noting that memes occupy 4 lists, and 3 of them belong to the Solana ecosystem.
Source: Forbes
$WIF
The total number of Solana ecological meme coins is approximately 998 million. Its icon, a Shiba Inu wearing a knitted beanie, has the highest return rate of about 70 tokens with a market capitalization of more than $1 billion, up about 1,300%.
$WIF first opened at a price of US$0.00016 on November 20, 2023. On January 11, 2024, when the currency price was approximately US$0.17, a whale lost 77,247 $SOL (worth approximately US$0.17 at the time) in a huge transaction on $WIF. $7.7 million), causing its $WIF tier to briefly rise to $3.99. The trapped whale bought 17.22 million $WIF at the time, worth over 30 million.
A week or so later, Binance launched the $WIF perpetual contract. As of March 3, the total market value of $WIF (approximately $1.685 billion) surpassed $BONK (approximately $1.591 billion), and it was temporarily ranked 66th in the cryptocurrency market value rankings. Just 2 days later, on March 5, Binance officially launched the $WIF spot trading pair. On March 18, its total market capitalization surpassed $PEPE, reaching its all-time high of $4.86 on March 31.
$BABY
PEPE was born in April 2023, and $PEPE trading officially opened on April 15. $PEPE initially had a price of approximately $0.000000001 and a total supply of 420.69 trillion. In just one month, $PEPE’s market capitalization exceeded $400 million, making it into the top 100 cryptocurrencies by market capitalization. $PEPE was created as a rebellion against the complex token economic model of the “puppy” meme. It avoids the complexity of pre-sales, burns, and taxes in its token economics. Not only that, its frog image is also loved by Western pop culture.
On October 24, 2023, a total of 6.9 trillion $PEPE were destroyed. On February 28, 2024, $PEPE’s total market capitalization exceeded the $1 billion mark for the first time. On March 13, after Musk posted a picture related to $PEPE, the price rose above $0.000009, and the next day the token price went to 0 for the first time. On May 22, its total market value exceeded the $5 billion mark, and within a week Later, it reached a peak market value of more than 7 billion US dollars.
$ BUT
In March of this year, three companies, SingularityNET ($AGIX), Fetch.ai ($FET), and Ocean Protocol ($OCEAN), announced that they would merge their tokens and create a decentralized AI alliance. The alliance aims to provide a decentralized alternative to projects currently controlled by large tech companies. The name of the three merged tokens has been updated to $ASI (which stands for “Super Artificial Intelligence”). This year 4, the merger vote was opened and passed, and it was officially completed on July 15.
Before the merger, the three AI project tokens all had considerable returns. With the help of the big market and the wave of AI, $OCEAN rose from $0.5 at the beginning of the year to a maximum of over $1.4. $FET rose from $0.7 to a high above $3.2, and $AGIX rose from $0.3 to a high near $1.4.
$FLOKI
$FLOKI is a token named after the Shiba Inu of the world’s richest man, Elon Musk. At the end of October last year, Floki launched its cryptocurrency and asset tokenization platform TokenFi, and 56% of the token TOKEN allocation was given to Floki pledgers. Since its launch, $TOKEN has risen from a maximum of $0.01 to over $0.2, an increase of more than 20 times.
At the beginning of this year, thanks to the upward trend of the entire market, $FLOKI rose all the way from $0.00003 to $0.000313, an increase of nearly 10 times, but it did not hit a new all-time high in the previous bull market cycle. On May 27, Floki developers launched a Telegram-based trading robot on the BNB Chain network for $FLOKI holders. The robot charges a 1% fee for each transaction, and 50% of the fees collected will be used in public transactions. Purchase $FLOKI on the market, and also launch the Floki Trading Bot public mainnet open beta. The good news once caused $FLOKI to rise by more than 23%, with the currency price soaring from a maximum of 0.00022 to $0.00029.
On June 4, DWF Labs purchased $12 million worth of $FLOKI tokens to support the $FLOKI ecosystem. Affected by the good news, $FLOKI hit a record high of $0.000349 the next day amid the meme rally wave, and subsequently rose. It came to an end and began to decline.
$JASMY
This project may not be known to most investors, it is one of the Japanese DePIN projects with a handful of tokens listed on Binance and Coinbase. Based on basic services such as blockchain technology, it provides data security, storage, interaction and other services for the Internet of Things environment. It matches service providers with data arbitrageurs, allowing service providers to collect user-owned data from various sources, package it and sell it to data arbitrageurs.
In the second half of 2023, Jasmy also developed Ethereum’s Layer 2 solution, Jasmy Chain, to enhance scalable functionality and provide a more transparent, secure, and personalized data interaction experience. After that, the price of its tokens was stimulated by the general market and the good news about the project itself, and came out of the bottom range. It had risen to around US$0.006 at the beginning of the year, and soared to above US$0.027 during the surge in February and March.
After months of consolidation, Jasmy rose to $0.04469 on June 7, hitting a new high not seen since April 2022. But it's still quite a ways off its all-time high of $4.29.
$AR
Arweave is a decentralized permanent storage project that was ranked as the star of the storage track alongside Filecoin in the last cycle.
On February 27 this year, it officially announced that it was developing the AO supercomputer test network to design computing layers for social media and AI. The news stimulated a rise of 17.35% that day, and another surge of 50.67% the next day. The price of the currency soared from US$15.6 to US$29.6 in just 2 days. Later, it resonated with the broader market and rose to a maximum of $47.5 in March, achieving five consecutive weekly gains. It finally rose to $49.55 in late May, a new high not seen since March 2022.
On June 6, Arweave acquired Odysee, a decentralized video sharing platform built on the LBRY protocol, to create a social media platform that is not controlled by government censors and content moderators. This news did not give a clear positive boost to the currency price. Instead, it continued to fall due to the negative impact of the general market.
$CORE
Core DAO is responsible for developing the Satoshi+ ecosystem. Core is a Layer 1 blockchain that combines the decentralization and security of Bitcoin with the scalable functionality and utility of Ethereum.
The six-month Core Ignition airdrop incentive program was launched at the end of March this year to reward users and developers for their contributions to the growth of the network. After the plan was announced, the $CORE token steadily moved out of the bottom range, rising from $0.6 to as high as $4.45 on April 2.
Just one month later, on April 18, Core DAO launched a $200 million ecosystem fund aimed at accelerating the development of decentralized applications and protocols based on the Core Layer 1 blockchain. This good news did not benefit the currency price. Interestingly, on April 15, it rose by 83% in a single day, with the currency price rising from US$1.43 to US$2.8866.
Core DAO released a long vision article earlier this year stating that it will launch non-custodial Bitcoin staking and Core native encapsulated Bitcoin coreBTC.
$TON
TON has technical logic with high-speed applications as its core: transactions are directly uploaded to the chain based on messages, supporting point-to-point. TON's dynamic multi-shard architecture also facilitates the expansion of its application functionality. Dan Morehead, founder of Pantera Capital, said he made the largest investment in $TON in the history of the fund. In June this year, Bitget partnered with Foresight Ventures to establish a $20 million $TON Ecosystem Fund to support ecological development.
Recently, The Open Network (TON) team stated that it will soon launch its own Layer2 network based on Polygon technology. The new protocol, called TON Applications Chain (TAC), will leverage Polygon’s Chain Development Kit (CDK), allowing developers to create their own second-layer blockchains based on Polygon’s zero-knowledge technology.
When the general market rose at the beginning of this year, $TON did not perform well. Instead, when the entire market began to fall, it began to rise all the way in March. April saw even more impressive gains.
On April 9, the total market capitalization surpassed $ADA, and on April 15, the total market capitalization reached $18.9 billion, surpassing Dogecoin. At this time, the price of $TON is fluctuating around $6. On April 19, Tether expanded $USDT to the TON network. On April 23, $TON announced that users could now purchase USDt-TON through Wallet in Telegram, but the currency price did not improve significantly until May 3, when the issuance of $USDT on the $TON chain exceeded 100 million. On that day, $ TON rose by more than 10% and began to rise all the way. On June 15, the authorized issuance of $USDT on the $TON chain increased to approximately US$580 million, making it the sixth largest blockchain in terms of $USDT issuance, second only to Tron and Ethereum. Fang, Solana, Avalanche and Omni, $TON hit its all-time high of $8.288 that day.
$BGB
$BGB is the platform currency of the exchange Bitget. Centralized exchanges achieved substantial growth in the first half of 2024, with total spot trading volume reaching US$10.6 trillion, an increase of 145% compared to the second half of 2023. Among them, Bitget's market share increased the largest, reaching 38.4%. In addition, Bitget's market share in the first half of 2024 increased by 38.4% compared with the second half of 2023. In the derivatives financial products market, open interest ranked first, with an increase of 39.2%.
Bitget continues to empower $BGB in terms of user participation in transaction fee discounts and new currency creation. In the first half of the year alone, high-quality new creation projects such as $ENA, $ZKJ, and $ZETA were launched. In addition, Bitget is also more aggressive in launching new tokens and has gained many new users.
Against the background of the continuous growth in the number of users and market share, $BGB has climbed from around US$0.6 at the beginning of the year and has increased by more than 20% in a single day on May 27 to reach a record high of US$1.486.
$BONK
$BONK is the dog meme currency of the Solana ecosystem. It was launched in 2022 and was first distributed as an airdrop to compensate FTX victim users. Bonk issued a total of 100 trillion $BONK, 50% of which were airdropped to the Solana community.
In 2023, $BONK ranked first among the top 100 by market capitalization, with a return rate of 73 times. On December 15 of that year, Binance officially launched $BONK. Affected by this news, $BONK once rose to $0.00004, but the good times did not last long, and then it continued to decline, even falling below $0.00001 in mid-January. Until early March, it hit its all-time high of $0.000048 due to the hot market. Since then, $BONK has been fluctuating around $0.00002 to $0.00003.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
This article is reprinted with permission from: Foresight News
Original author: 1912212.eth, Forest News
