Cryptocurrency analysis platform CoinGecko shed light on the most popular trends in the crypto market for the second quarter of 2024 in a recent report. The report reveals that memecoins have taken center stage, capturing a significant market share of 14.3%.
The report revealed that memecoins, Real World Assets (RWA), and Artificial Intelligence (AI) collectively captured 35.7% of the market share within altcoins. This trend mirrors patterns observed in the first quarter of 2024 and indicates continued interest in these areas.
Among the top 15 crypto trends, four were related to memecoins, further highlighting their dominant presence in the market.
Among the 49 blockchain ecosystems, Solana, Ethereum, Base and TON were the most talked about altcoins. Solana and Base led the way with a combined market interest of 22.9%.
The report also highlighted some interesting data regarding Ethereum. In the 2nd quarter of 2024, a total of 107,725 ETH was burned, while 228,543 ETH was released. This made the network inflationary last quarter, leading to a total of 120,818 ETH being added to the supply in Q2.
ETH burn rate decreased by 66.7% compared to the previous quarter due to the slowdown of network activities and lower altcoin gas fees. There were only 7 days in the second quarter when ETH burns exceeded emissions, compared to 66 days in the first quarter.
*This is not investment advice.