Author: Revc, Jinse Finance
Preface
The crypto market has been going through a roller coaster ride of sudden drops and surges in recent days.
In order to clarify where this bull market has reached and to have an overall grasp of this year's crypto market, Jinse Finance analyzed the performance of the top 50 cryptocurrencies by market value from the beginning of the year to date.
Jinse Finance reporter data analysis found that based on the price at the beginning of the year, 60% of the year-to-date gains have been wiped out; the two MEME tokens, WIF and PEEP, have seen the highest increases, and 2024 may be the year of MEME coin explosion; TON is the best performing of all public chain tokens, with an increase of 150.17% from the beginning of the year; in addition, BNB, SOL, LEO and KAS have increased by nearly 50%.
1. We seem to have experienced a fake bull market
There are 29 tokens whose prices are lower than at the beginning of the year, and the top five with the largest declines are ARB, OP, MATIC, INJ, and ATOM.
The main factors affecting the decline of the above tokens are token unlocking, token inflation, and poor token utility.
2. The following tokens have increased close to inflation levels
ETH has recently been sold off by institutions, market makers and large whale, and its overall performance has been poor.
3. The best performing tokens this year
2024 may be the year of MEME token explosion. The top three tokens with the highest growth are all MEME tokens, and the Trump concept token on Solana has an even higher growth rate.
4. The most exciting roller coaster token
summary
By consolidating the performance of the top 50 tokens this year, in addition to the sharp correction in the current overall market, the poorly performing tokens all have factors that cannot be ignored, such as large-scale unlocking, inflation, poor ecological performance, and weak practical functions of tokens. MEME tokens have the characteristics of high growth and high amplitude. While investors strive for returns, they cannot ignore the related risks.
