Leading global magazine Forbes has identified ten crypto assets pulling the best performances in the crypto scene, defeating Bitcoin so far this year.
In a recent publication, Forbes explored the crypto market and discovered that meme-inspired crypto assets are top investment instruments delivering the best returns for investors in the first half of 2024.
Crypto Market Sees $661B in First Half
The report disclosed that the crypto market received fresh capital totaling $661 billion in the first half of 2024. Interestingly, Bitcoin alone attracted 61% of of that figure, amounting to over $409 billion.
Notably, the massive influx of $661 billion in the market was influenced by the launch of inaugural crypto spot ETFs in the U.S. Consequently, Bitcoin broke multiple records, setting a new all-time high above $73K several weeks before its 2024 halving event.
Presently, Bitcoin costs $63,220 per coin, reflecting a year-to-date gain of 49.53%. Its closest rival, Ethereum, boasts a similar percentage return.
Meme Coins More Profitable Than Bitcoin
Meanwhile, Forbes confirmed that Bitcoin’s impressive surge was eclipsed by the performances of several meme tokens with minimal inherent value. These tokens fluctuated wildly in Q1 as social media-driven traders trooped into the market.
Among the billion-dollar-valued meme coins outperforming Bitcoin this year was the Solana-based Dogwifhat (WIF) token. Trading at $2.17, WIF posts an astonishing YTD yield of 1,322% despite its value crashing by over 16% in the last 90 days.
Another standout performer in the year’s first half is PEPE, a token inspired by the frog-themed internet meme of the same name. With a current trading price of $0.00001192, Pepe has seen its value skyrocket by over 820%, even reaching a new ATH.
The most prominent BNB Chain meme coin, Floki, followed closely with over 425% gain this year, similarly outperforming Bitcoin.
Seven Other Crypto Assets That Outperformed Bitcoin
Several other crypto assets within and outside the meme coin space have also outpaced Bitcoin’s gains.
Notable examples include Artificial Superintelligence Alliance (FET), which has risen 101%; JasmyCoin, with a 343% increase; Toncoin, up 22%; Arweave (AR), which has surged 185%; Core, with a 152% gain; Bitget (BGB), up 85%; and Bonk, which has seen a 95% increase.