The cryptocurrency market remains to be recycling outdated narratives, with few new developments but to emerge and substitute the dominant themes within the first quarter of 2025.
Artificial intelligence tokens and memecoins have been the dominant crypto narrative within the first quarter of 2025, accounting for 62.8% of investor curiosity, in response to a quarterly analysis report by CoinGecko. AI tokens captured 35.7% of worldwide investor curiosity, overtaking the 27.1% share of memecoins, which remained in second place.
Out of the highest 20 crypto narratives of the quarter, six have been memecoin classes whereas 5 have been AI-related.
“Looks like we’ve got but to see one other new narrative emerge and we’re nonetheless following previous quarters’ developments,” mentioned Bobby Ong, the co-founder and chief working officer of CoinGecko, in an April 17 X post. “I assume we’re all drained from the identical outdated developments repeating themselves.”
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Curiosity in memecoins noticed a pointy improve forward of US President Donald Trump’s inauguration on Jan. 20 after his crew launched the Official Trump (TRUMP) memecoin on Jan. 18 and the Official Melania (MELANIA) token on Jan. 19 on the Solana community.
Nonetheless, some trade watchers are involved that memecoins are draining capital from utility tokens, reminiscent of Solana (SOL), limiting their worth potential.
SOL has fallen by round 48% up to now three months since Trump’s inauguration, when it briefly peaked above $270, TradingView information reveals.
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Memecoins “fell off a cliff” after Libra fiasco
The crypto trade took one other hit after the collapse of the Libra (LIBRA) token, a memecoin endorsed by Argentine President Javier Milei, which worn out $4 billion in market worth inside hours after insiders allegedly withdrew over $107 million in liquidity, inflicting a 94% worth crash.
Memecoins “fell off a cliff” after the Libra scandal because the variety of new tokens deployed on Solana’s Pump.enjoyable noticed a drastic fall, the report acknowledged, including:
“Every day tokens deployed has fallen by over 56.3% from its peak in January to 31K on the finish of 2025 Q1. The proportion of ‘graduated’ tokens additionally fell drastically to 0.7%, in comparison with 1.4% in 2025 January.”
Whereas the Libra scandal marked the tip of the “politicam memecoin” development, the trade’s most worthwhile merchants are nonetheless trying to find speculative memecoin investments regardless of the end of the memecoin supercycle.
“There was the latest meme surge and sensible cash is at all times joyful to capitulate on that,” Nicolai Sondergaard, a analysis analyst at Nansen, advised Cointelegraph, including that memecoins could solely be a “enjoyable play” for sensible traders, as they aren’t affected by the identical macroeconomic considerations as Bitcoin (BTC) and Ether (ETH).
On the finish of March, a savvy dealer turned an preliminary funding of simply $2,000 into $43 million with the favored Pepe (PEPE) memecoin, however missed promoting the highest, locking in a realized revenue of over $10 million, regardless of Pepe’s over 70% decline.
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