Coinspeaker Binance Report: Crypto HODLers Prefer Meme Coins over Bitcoin
As per the recent survey conducted by crypto exchange Binance, cryptocurrency holders, popularly called HODLers, are holding more meme coins than Bitcoin in their wallets. The crypto exchange released the results of the Binance Global User Survey on Wednesday, December 18, wherein 16% of the respondents reported holding meme coins.
Bitcoin BTC $102 381 24h volatility: 2.1% Market cap: $2.03 T Vol. 24h: $103.62 B came second with 14.4% of respondents saying that they had exposure to the world’s largest asset class. The survey gathered responses from over 27,000 users across Asia, Australia, Europe, Africa, and Latin America. In the Binance report, the crypto exchange noted:
“The survey results suggest that memecoins are not only popular in terms of current holdings but are also the class of digital assets that users are highly excited about for the future”.
Meme coins have had a solid year 2024 especially the ones launched on the Solana blockchain network. They have also contributed to the overall growth of the Solana ecosystem, wherein it even leads Ethereum on a few parameters.
During the last quarter, top meme coins like Dogecoin DOGE $0.36 24h volatility: 6.1% Market cap: $53.74 B Vol. 24h: $6.86 B and Shiba Inu SHIB $0.000024 24h volatility: 6.2% Market cap: $14.37 B Vol. 24h: $1.43 B have also joined the part. However, Pepe Coin PEPE $0.000019 24h volatility: 10.5% Market cap: $8.20 B Vol. 24h: $3.91 B , Bonk BONK $0.000031 24h volatility: 9.7% Market cap: $2.35 B Vol. 24h: $644.72 M , and dogwifhat WIF $2.29 24h volatility: 10.7% Market cap: $2.29 B Vol. 24h: $1.15 B have given multi-bagger returns to investors. In its recent survey, crypto exchange Binance didn’t disclose the value of the holdings by the respondents.
AI Tokens Remain the Top Choice above Meme Coins
While meme coins took the lead over Bitcoin in terms of user holdings, they were not at the top spot in dominating the market share. Artificial Intelligence(AI) tokens took the top spot, with 23% of participants predicting they would drive market growth next year. Meme coins followed closely behind, with 19% of those surveyed confident that their market value would rise in 2025.
Google search data also shows heightened interest in meme coins. Over the past 30 days, searches for the term “memecoin” peaked at 100 on December 5, before tapering off to a score of 66 by December 19. On the other hand, Bitcoin recorded a volume of 50, dropping from the peak of 100 on the same date.
Furthermore, the Binance Survey shows that 45% of the respondents joined the crypto market this year in 2024. Moreover, 31% of surveyed users engaged in regular trading. This clearly shows that most of the respondents in the survey have been riding the trend.
Meme coins, often regarded as hyper-speculative crypto assets with little to no utility, have sparked discussions among experts. Some analysts speculated about the potential for a memecoin supercycle, suggesting the market’s upward trend may still have room to grow.
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Binance Report: Crypto HODLers Prefer Meme Coins over Bitcoin
