CoinMarketCap's flagship 'According To CMC' report includes
crypto market analysis, key narratives and user
trends, informed by world-class crypto data and CMC
user insights.
DUBAI, UAE, July 9, 2024
/PRNewswire-PRWeb/ -- CoinMarketCap, "Home of Crypto"
and the world's most trusted source of crypto data,
insights, and community, launches its latest 'According To CMC'
market report for H1 2024, including market analysis, key
narratives and user trends informed by world-class
crypto data and CMC user insights.
"As the first institutional-dominant cycle,
we saw both Bitcoin ETF accumulation and anticipation
of the Ethereum ETFs drive the market, alongside Real
World Asset adoption led by BlackRock's BUIDL fund, which witnessed
a $453M inflow in less than three
months."
Alice Liu, Research Lead at
CoinMarketCap, said " As the first institutional-dominant cycle, we
saw both Bitcoin ETF accumulation and anticipation of
the Ethereum ETFs drive the market, alongside Real
World Asset adoption led by BlackRock's BUIDL fund, which witnessed
a $453M inflow in less than three
months. Interestingly, retail is nowhere to be found - or maybe
they are getting caught up in Meme Coin mania, which have become
the most popular category in crypto."
The CMC report shows that, for the first time, Meme Coins have
become the most popular category in crypto, flipping
the previously dominant Smart Contract, DeFi, and NFT
narratives. Meme Coins accounted for 23% of page views on
CoinMarketCap, with over 25 million pageviews in June, with the SOL
ecosystem trumping that of Ethereum in terms of
popularity and attention.
Other narratives such as AI have been trending downwards,
reaching only a 6.4% share in June since its peak in February.
Stablecoins is the only positive sector that has seen material
growth in terms of new listings and market cap. The report shows
that all eyes are on crypto policies and politics.
Republicans, including former President Donald Trump, are increasingly aligning with the
crypto industry, with Trump accepting
crypto donations and advocating for digital asset
traders. Despite a decline in overall crypto usage
among Americans, the industry has won notable victories in
Washington, illustrating its
growing influence. This includes a significant increase in
political spending, with more than $80
million planned for the 2024 elections.
Crypto-friendly legislation has even garnered
unexpected bipartisan support, with prominent Democrats like
Chuck Schumer and Nancy Pelosi emerging as allies.
Driven by the meme-centric market environment, Brazil has become the second largest country
according to CMC crypto user traffic, with around 9%
market share. It is followed by India (7.57%), Indonesia (6.5%), Germany (6.4%), and Russia (6.2%). Meanwhile, countries such as
the USA, United Kingdom, and France, which have traditionally been more
focused on BTC/ETH, DeFi, infrastructure,
and institutional markets, have seen a decrease in
crypto user market share.
To view the report, please visit this link. To stay on top of
crypto and subscribe to the CoinMarketCap newsletter,
register here.
For media inquiries, please contact Phil
LeRoy at (310) 260-7901 or Phil(at)MelrosePR(dot)com
About CoinMarketCap
Founded in 2013, CoinMarketCap.com is 'Home Of
Crypto', the world's most trusted source of
crypto data, insights and community. Its mission is to
accelerate the crypto revolution by organizing the
world's crypto intelligence and making it easily
accessible to all. CoinMarketCap reaches hundreds of millions of
users a year through its website, mobile app, newsletter, and
social media channels.
Media Contact
Phil LeRoy, Melrose PR, (310)
260-7901, phil@melrosepr.com, https://coinmarketcap.com/
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SOURCE CoinMarketCap