Memcoins and DeFi Assets Outperform Bitcoin: BONK, CRV, and FRAX Up Over 20% in 24 Hours
As Bitcoin reaches new highs and institutional investor interest continues to grow, memecoins have transformed from speculative assets to functional ones.
Amidst a highly liquid bull market, eight different digital assets have outperformed Bitcoin in 24 hours: FLOKI is up 31.78%, CRV is up 26.77%, FXS is up 22.45%, TOSHI is up 20.71%, FARTCOIN is up 20.01%, MEW is up 17.92%, TRAC is up 16.71%, and BONK is up 16.36%.
The total cryptocurrency market capitalization has surpassed $3.7 trillion, up about 10% in the last week. Bitcoin is trading at around $118,000, close to its recent all-time high of $123,000, while Ethereum is trading above $3,400.
Sentiment indicators reflect this growth, with the Fear and Greed Index in the “Greed” zone. Institutional investor participation continues to grow, as evidenced by the sharp increase in demand for Bitcoin and Ethereum spot ETFs.
In this macroeconomic model, memecoins are undergoing a transition from speculative anomalies to financially integrated and utilitarian assets. Their resurgence is marked by structural changes such as the listing of perpetual contracts on exchanges, increased ecosystem revenue, and the expansion of intellectual property.
