30s Summary

According to a survey by Binance, more crypto holders reportedly store memecoins than Bitcoin in their digital wallets. Memecoins were the top choice of 16% respondents, surpassing Bitcoin’s 14.44%. The survey, involving over 27,000 users globally, also showed enthusiasm for the future of memecoins and their potential to lead market growth. Despite the lack of utility, memecoins have generated immense interest, even sparking discussions about a possible supercycle. However, they have also sparked scepticism akin to that associated with initial coin offerings and non-fungible tokens.

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According to a recent survey from crypto exchange Binance, folks who hodl (hold) cryptocurrency are now keeping more memecoins in their digital wallets than Bitcoin. Published on Dec. 18, the results showed 16% of those surveyed reported they had memecoins, making these fun coins the most popular choice among responders.

Bitcoin, the first and most famous digital currency, came in as a close second with 14.44% of people saying they have some. Just over 27,000 users from Asia, Australia, Europe, Africa, and Latin America took part in this survey.

Binance thinks the results suggest memecoins aren’t just popular right now, but people are also really excited about their future. They didn’t say how much worth of memecoins the responders had. According to CoinGecko data, the total market cap for the memecoin market is around $117 billion, while Bitcoin’s market cap is over $2 trillion.

Those who took part in the survey also thought memecoins would be big in 2025. Artificial intelligence tokens were the top choice with 23% thinking they’ll lead the market growth next year. Memecoins came in second, with 19% feeling confident in their future value.

Google search data agrees. The term “memecoin” had a peak search volume of 100 on Dec. 5. Meanwhile, “Bitcoin” had half that volume, down from its peak of 100 on the same date. Interestingly, the Binance survey found nearly half the participants first got into crypto in 2024, with 31% regularly trading.

Now, memecoins are a bit of a gamble as they have no real utility. Some experts started talking about a possible memecoin supercycle earlier in December. Yet, back in August, some crypto execs at a conference in Canada questioned if memecoins would go the way of initial coin offerings and non-fungible tokens, which both had huge booms before dropping a lot.