Meme Coins are Taking 22% of the Total Market Share

• Meme coins are the most popular sector in crypto now, leaving Solana, Ethereum, and even AI behind
• It might show how many Web3 end users there are relative to institutional investors
• Also, this may remind us of the Attention Economy and the factors that add value to assets.

We can observe an interesting dynamic in which Meme Coins have the largest share, ahead of Ethereum and Solana Ecosystems.

What are the Proportions?

Let’s take a closer look at the numbers.

Solana is performing better than Ethereum, and that’s for obvious reasons. It is a standalone blockchain written in Rust, a much faster and more secure language than Ethereum’s Solidity. Also, Solana is highly active in offering solutions that seek to bridge one of the major gaps preventing global blockchain adoption—namely, the more seamless and convenient experience of using Web3 solutions for users not well-versed in the field.

Ethereum is clear. It takes its smaller but impressive share because, in its time, it has significantly expanded blockchain capabilities in comparison to Bitcoin and remains the industry standard, bringing us the so-called blockchain 2.0.

DeFi is not far from Ethereum, as it realizes one of the key principles of Web3, namely the decentralization of the entire financial sector, not just parts of it.

Gaming and Web3, in general, are also very well, as the technologies used by key players are finding opportunities for perfect integration and solving many old challenges.

That’s why NFTs, despite having already experienced a boom, are now taking their place as a great solution in areas where affordable technology is needed to actively utilize unique assets.

We can also see that Smart Contracts, which also perform similar tasks in their areas better than any previous technology, have a significant share.

And, of course, AI is becoming the biggest trend in the world today and finding a great alignment with crypto to solve many technical problems of modern AI/ML models and systems.

While Metaverse hasn’t lived up to many’s expectations yet—or you could say hasn’t fully debuted yet—its very small share at the moment is also obvious.

But How Can Meme Coins be Bigger than Any of Them?

If you look at it purely from a technology perspective, all these numbers seem logical except for Meme Coins.

So why do assets not backed by special technology or solutions that solve real problems – show such numbers?

Of course, there is no definite statement, because the crypto market has grown and is huge today, and many factors influence their value.

But, among other things, this can remind us that something that has a practical purpose or solves a specific problem may not only be in demand. And also what is of interest to the end users for personal reasons.

Proportion towards Meme Coins makes it clear that the base of end consumers interested in Web3 is large compared to institutional investors and large corporations.

This also explains why Meme Coins are rising in price. The stage of the economy that many believe we are in, called the “Attention Economy,” reminds us that what has value is also what is given value by end users, not just the purposefully endowed.

It may also signal that many users are still unfamiliar with what makes Web3 fundamentally different and may never want to learn more about it. This means that Solana’s strategy and share, which we mentioned earlier, seem even more justified.