Memecoins Fuel Crypto Surge, DeFi Sees 72.8% YTD Growth

Memecoins have taken center stage in the crypto market this year, according to Binance Research. The sector has outperformed all others, returning a staggering 279% so far in 2024.

The research arm of the top crypto exchange attributes this success to memecoins driving significant activity among traders and capturing attention within the community.

Base, Coinbase's Ethereum layer-2 chain, and Solana are leading the charge as two prominent blockchains spearheading the memecoin surge.

AI-related crypto projects have also piqued consumer interest, while DeFi is making a comeback in 2024 with a 72.8% year-to-date increase in total value locked to $94.1B.