Modal Coins and Real-World Assets Lead Crypto Market Rise in 2024

According to CryptoPotato, the cryptocurrency industry has seen a significant recovery since the beginning of 2024. The global cryptocurrency market capitalization has soared from $1.77 trillion to $2.2 trillion, an increase of 25%. The best performers have been meme coins and real-world assets (RWAs), whose prices have risen sharply.
Meme coins were particularly notable, with the prices of leading meme coins such as DOGE, SHIB, WIF, PEPE, BONK and FLOKI surging by an average of 338% year-to-date (YTD). The standout performer in this category has been dogwifhat (WIF), whose value has risen from less than $0.02 at the beginning of 2024 to around $1.80 today, and even hit a new all-time high of $4.58 in April. dogwifhat and SHIB have also risen, albeit to a lesser extent, and together account for more than 50 percent of the market capitalization of Meme coins.
Real-world assets (RWAs) also made waves, with Mantra (OM) and Ondo (ONDO) surging 1570% and 380% respectively. Other areas that have performed well since January 1 include Layer 1 (+17%), SOL DeFi (+9.8%) and AI DePIN (+43%).
The largest cryptocurrencies by market capitalization, Bitcoin (BTC) and Ethereum (ETH), have also risen sharply. BTC hit an all-time high of over $73,500 in mid-March. ETH rose 15 percent, from $2,280 to about $2,600. The future performance of these flagship cryptocurrencies remains to be seen, especially in light of recent bullish events such as the halving of BTC and the launch of spot BTC and ETH ETFs in the US.