Although Bitcoin (BTC) has made history in various fields this year, 2024 was the year of memecoins. There has been a lot of hype surrounding these useless coins, and they can proudly call themselves the best-performing coins in the crypto market. The high returns naturally attract many investors, but a new research by Binance even shows that many crypto owners prefer memecoins to Bitcoin.
Prefer Memecoins to Bitcoin
Binance, one of the largest crypto exchanges in the world, has conducted a survey where participants could share their perceptions about the current state of the crypto market and their expectations for the next year. Yesterday, the exchange shared the results of the so-called “Binance Global User Survey,” in which a total of 27,230 users participated.
The most striking result is that memecoins are among the participants’ most popular investments. 16.1% said they had invested in memecoins. Of course, to what extent you can call this investing is debatable. This was followed by Bitcoin (BTC) with 14.44% and Binance’s own BNB (BNB) with 14.23%.
Memecoins were also one of the most promising niches for next year for participants. The biggest expectations are for AI tokens – a whopping 23.89% believe AI tokens will lead the market in 2025. For memecoins, 19.09% have confidence that they will steal the show for the second year in a row. This is followed by DeFi tokens with 12.37% and Layer 1 tokens with 12.28%.
It’s no surprise that memecoins are so popular with investors. The coins have a low barrier to entry (they’re easy to understand) and there are countless examples that have increased in value by thousands of percent in a short period of time. You don’t have to for the technology, anyway. Many crypto and blockchain purists therefore view the rise of memecoins as a worrying trend in the industry.
Many newcomers
Another result worth mentioning is that almost 45% of respondents said they only entered the crypto market this year. This high percentage is of course entirely due to the rising crypto prices. It’s just how people tick: the better the prices are, the more people want a piece of the pie.
The most important reason for getting started is, how could it be otherwise, the potential for rapid value increases. 22.4% of respondents cited this as their reason. Decentralization and financial independence were also important drivers that influenced 17.78% of participants.
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