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December 19, 2024

Binance’s 2024 user base survey – Memecoins beat Bitcoin Florence Muchai | usagoldmines.com

Binance surveyed more than 27,000 users to get predictions for the year 2025. The survey indicates that its customers hold a greater percentage of memecoins compared to Bitcoin, with figures standing at 16% for memecoins and 14% for Bitcoin.

Binance said, “The survey results suggest that memecoins are not only popular in terms of current holdings but are also the class of digital assets that users are highly excited about for the future.”

In addition, survey respondents identified memecoins as a major source of market development in the upcoming year.

On-chain data shows the total market cap for the memecoin market is currently at $117 billion, with Dogecoin as the top performer. On the other hand, Bitcoin’s market cap is over $2 trillion.

In addition, according to Binance users, BNB holdings outnumber ETH holdings among survey participants, accounting for 10.95% of total ownership. Other leading layer-1 tokens account for 10.38%. 

Memecoins compete with AI in terms of growth 

In 2025, Binance users anticipate that AI tokens will dominate the market ahead of other emergent sub-sectors, followed by memecoins.

AI tokens are the category of digital assets with the greatest perceived upward potential. An impressive 23.89% of the survey participants believe they will drive the market’s growth.

Interestingly, memecoins had a solid 19.09% of respondents expressing confidence in their potential for growth. Being the most risky investment, users have embraced them since they equally have great returns in comparison to other crypto categories.  

Donald Trump’s election victory caused the leading memecoin DOGE to pump by over 160% in November. This proves that memecoins demonstrate highly speculative tendencies.

The performance of the 6 largest meme coins. Source: Market Vector

This interest is also evident in Google search data metrics. The term “memecoin” experienced a peak search volume of 100 on December 5 over the past 30 days, only to decline to 66 as of December 19.

On the contrary, the volume of inquiries for “Bitcoin” decreased from its peak of 100 on the same date to 50.

Also, DeFi tokens and layer-1 tokens follow at 12.37% and 12.28%, respectively. 

Traders embraced the crypto market globally this year 

The survey also emphasizes the increase in the number of new crypto adopters. Nearly half of the respondents (45%) entered the crypto market in 2024. 24.52% entered the market within the past six months, and 20.60% joined within the past year. 

Binance asserted, “The Binance community is characterized by a balanced blend of experience levels, as 41.86% of respondents have been active in the crypto market for one to five years, despite the fact that many new users are still establishing their footing.”

According to the survey, A substantial 43.97% of respondents have allocated less than 10% of their overall fortune to crypto, while 24.33% hold between 10% and 25% in crypto assets. 

In addition, trading activity continues to be strong, with 31.09% of respondents reporting daily trades and 22.91% trading weekly.

The survey explained that the primary motivator for crypto users sticking to the market is the potential for rapid appreciation of digital assets. 22.4% of respondents identified it as their primary reason for joining.

Decentralization and financial independence are also significant drivers, affecting 18.78% of participants. Still, 17.16% of respondents identified the quickness and simplicity of transactions as a critical factor in their decision to enter the market.

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This articles is written by : Nermeen Nabil Khear Abdelmalak

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