Bitget’s BGB, WIF, PEPE, More Tokens Outperform Bitcoin in H1 2024

Despite Bitcoin, the leading crypto, having its fourth halving last April, a group of cryptocurrencies has emerged as unexpected frontrunners.

In the first half of 2024, a Forbes report highlighted several cryptocurrencies, including meme coins like Dogwifhat (WIF), PEPE, Artificial Superintelligence Alliance (ASI), Floki (FLOKI), and Bonk (BONK), as well as coins like Bitget (BGB) and Core (CORE) that outperformed Bitcoin, providing significant gains to investors despite Bitcoin’s price correction during the period.

In a statement, Gracy Chen, CEO of Bitget said:

“The recent success of BGB can be attributed to factors such as growing adoption, utility within the Bitget ecosystem, and positive market sentiments. We believe that the crypto ecosystem should be easy-to-use, secure, and accessible for everyone worldwide. In this quest, BGB plays a vital role for Bitget. We will continue expanding our lineup of products and services, which will integrate BGB providing our users with access to exclusive privileges and offerings.”

According to Forbes, cryptocurrencies collectively increased their market capitalization by $661 billion in the first half of 2024. On the other hand, Bitcoin alone contributed more than $409 billion to this growth.

Top 10 that Outperform BTC in first half of 2024

1. Dogwifhat (WIF)

Report: During the year’s first half, it surged by 1,306%, reaching a market capitalization of $2.1 billion.

What is it: Dogwifhat (WIF) is a meme token on the Solana blockchain, inspired by a Shiba Inu dog wearing a pink-knitted hat.

• The anonymous founders drew inspiration from popular meme coins like Dogecoin (DOGE).
• Since its launch, it has gained popularity within and beyond the Solana ecosystem.

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2. Pepe (PEPE)

Report: It rose by 815%, achieving a market capitalization of $5 billion during H1 of 2024.

What is it: PEPE is a deflationary memecoin on the Ethereum blockchain, inspired by the Pepe the Frog meme.

• It has a supply of 420.69 trillion coins and over 100,000 holders as of November 2023.
• Pepe had its all-time-high on May 27, 2024.

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3. Artificial Superintelligence Alliance (FET/ASI)

Report: It increased by 545%, reaching a market capitalization of $3.6 billion during the first quarter of 2024.

What is it: Fetch.ai, Ocean Protocol, and SingularityNET unite to form Artificial Superintelligence through a token merger and continue to trade under $FET token.

• Launched in June 2019, the token is previously just under Fetch.ai, a decentralized platform for creating intelligent, autonomous software and tools, facilitating the launch of data analytics, decision-making, and prediction bots. 
• FET serves as the primary currency within the Fetch.ai ecosystem, as well as Ocean Protocol, and SingularityNET, used to pay for platform services. 

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4. Floki (FLOKI)

Report: It rose by 392%, achieving a market capitalization of $1.6 billion in H1.

What is it: Floki (FLOKI) is a utility token within the Floki Ecosystem, inspired by Elon Musk’s Shiba Inu.

• It has 10 trillion tokens in circulation across Ethereum and Binance Smart Chain (BSC). 
• It implements deflationary mechanisms, including burns via a cross-chain bridge, and transactions drawr a 0.3% tax allocated to the Floki treasury.

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5. JasmyCoin (JASMY)

Report: It increased by 343%, reaching a market capitalization of $1.4 billion.

What is it: JasmyCoin (JASMY) is the native token of the Japan-based Jasmy platform.

• It enables users to securely store IoT device data in personal data lockers.
• Merchants use JasmyCoin to access and utilize this data.

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6. Arweave (AR)

Report: Arweave increased by 188%, reaching a market capitalization of $1.8 billion.

What is it: AR is the native cryptocurrency of Arweave, a decentralized permanent storage platform. 

• It functions as a multi-utility token within the Arweave ecosystem, with a maximum supply of 66 million tokens. 
• Arweave utilizes a blockchain-like structure called the blockweave to offer scalable, cost-effective, and permanent data storage solutions.

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7. Core (CORE)

Report: It grew by 152%, resulting in a market capitalization of $1.2 billion for H1 of 2024.

What is it: Core is a blockchain platform that enhances Bitcoin’s capabilities through a novel consensus mechanism called Satoshi Plus, which combines Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS). 

• Core strengthens Bitcoin’s security without impacting its core functionality or block space. 

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8. Toncoin (TON)

Report: Toncoin went up by 135%, leading to a market capitalization of $18.8 billion.

What is it: Toncoin (TON), the native cryptocurrency of The Open Network (formerly known as Telegram Open Network).

• Facilitates decentralized application (dApp) development.
• Acts as transaction fees for processing and cross-chain exchanges.
• Supports blockchain security through staking.
• Used for payments related to decentralized data storage and services.

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9. Bitget (BGB)

Report: In the first quarter of the year, Bitget rose by 100%, resulting in a market capitalization of $1.6 billion.

What is it: Bitget Token serves as the native platform token for Bitget, a global cryptocurrency exchange specializing in derivatives trading. 

• Launched as an ERC-20 token on July 26, 2021, BGB has a total supply of 2 billion tokens, with 1.4 billion currently in circulation. 
• BGB offers various benefits and use cases, including early access to new projects through Launchpad and Launchpool, transaction fee discounts of 20% on spot trades, and more.
• This July, Bitget announce the upgrade of BGB’s smart contract address, paving the way for the token’s use in various dapps.

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10. Bonk

Report: The value of Bonk increased by 90%, reaching a market cap of $1.5 billion.

What is it: Bonk is a cryptocurrency token operating on the Solana blockchain, distinguishing itself with unique tokenomics centered around a burning mechanism. 

• It is Inspired by memecoins like Dogecoin and Shiba Inu.
• Bonk airdropped 50% of its supply to the Solana community. 
• It serves as a utility token for creating NFTs on the Ethereum network, expanding its use case in the broader crypto space.

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What are Memecoins?

These cryptocurrencies often gain popularity primarily through internet memes and online communities rather than fundamental technological innovations or utility. These tokens are typically characterized by its playful or humorous branding and marketing, which resonates with a broad audience on social media platforms. 

It is important to note that memecoins often experience volatile price movements driven by speculative trading and hype cycles generated by online discussions and viral content.

Read: Can Meme Coin Investors ‌Be Millionaires In Just 7 Days? 

What are AI Tokens?

AI tokens are cryptocurrencies developed by protocols integrating AI to enhance security, user experience, and scalability in various applications such as decentralized AI marketplaces, portfolio management, predictions, and more. They can offer governance rights and serve as transaction fees within AI platforms, akin to traditional cryptocurrencies like Bitcoin and Ethereum, rather than being influenced directly by AI decisions.

Read: Guide to AI Tokens

This article is a press release sent to BitPinas: Bitget’s BGB, WIF, PEPE, More Tokens Outperform Bitcoin in H1 2024

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