A recent CoinGecko study reveals that memecoins have captured the top spot for crypto investor interest in 2024.
The report highlights Solana-based tokens as the primary focus, followed by tokens on Layer 2 networks like Base.
⚡ LATEST: Memecoins take top spot for crypto investor interest in 2024: CoinGecko
Memecoin interest in 2024 was largely directed to #Solana-based tokens, followed by those on L2 Base, according to a CoinGecko study. pic.twitter.com/QaOvszhqj1
— Cointelegraph (@Cointelegraph) December 25, 2024
This growing interest aligns with observations from Glassnode, which notes that Solana has consistently experienced positive net capital inflows since September 2023. Apart from a few minor outflows, the blockchain has maintained steady liquidity growth, fueling its ecosystem’s expansion.
Daily Capital Inflows On Solana Is Massive
One of the standout metrics is the daily capital inflow to Solana, which peaked at an impressive $776 million. This sustained influx of liquidity has played a crucial role in driving the growth of Solana-based tokens, particularly within the memecoin sector. The increased demand has also contributed to price appreciation across various assets in the Solana ecosystem.
We observe that #Solana has consistently maintained a positive net capital inflow since early September 2023, with only minor outflows during this period.
This sustained influx of liquidity has assisted in stimulating growth and price appreciation, achieving a remarkable peak… pic.twitter.com/ypuwTdhrmc
— glassnode (@glassnode) December 24, 2024
The report underscores the shifting trends in the crypto market, where retail and institutional investors alike are embracing memecoins as high-risk, high-reward opportunities. Solana’s robust performance and thriving ecosystem have positioned it as a leader in this space, attracting attention from traders and developers alike.
As memecoins continue to gain traction, Solana’s consistent liquidity inflows and innovative projects provide a strong foundation for further growth. This trend highlights how blockchain ecosystems with strong fundamentals and active development can drive new market narratives, reshaping the focus of investors in 2024.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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