CoinGecko: What is the hottest blockchain ecosystem in 2024?

Author: Lim Yu Qian, CoinGecko; Compiled by: Deng Tong, Bitchain Vision

What is the most popular blockchain ecosystem?

The Solana ecosystem maintains its leading position as the most popular blockchain ecosystem this year, accounting for 38.8% of global cryptocurrency investors’ interest in specific chain narratives.The Solana ecosystem started strong this year, with Solana rebounding to 2021 levels, with key ecosystem project tokens and native Meme coins also performing well.Subsequently, the popularity of the Solana ecosystem continued to grow as Meme coin speculation recovered, traders prefer the speed of the chain and the low Gas fees, and this was further driven by the viral spread of Meme coin generator Pump.funa little.

Although the highest ranking of the Solana ecosystem has not changed compared to when it was first conducted in the first quarter, its share of investor interest has declined by 10.5 percentage points as other ecosystems step up their efforts to attract more attention.

Note: The arrows indicate changes in rankings compared to when the first study was conducted in the first quarter of 2024.Source: coingecko.com/research

The next most popular blockchain ecosystem is the Base ecosystem of cryptocurrency exchange Coinbase, with 16.8% investor interest as of 2024.Since the first quarter, the underlying ecosystem’s share of investor interest has increased by more than 5 times, elevating the Layer 2 ecosystem from seventh to second, and surpassing the Layer 1 Ethereum ecosystem.This also means that the Base ecosystem is now attracting 9 times more interest than the second most popular Layer 2 ecosystem, Arbitrum.Similar to the Solana ecosystem, the narrative of the Base ecosystem benefits from the chain becoming another popular market for meme currency trading.

at the same time,The Ethereum ecosystem ranking fell by one, becoming the third most popular blockchain ecosystem, accounting for 10.8% of investor interest.The focus of the Ethereum ecosystem fell by 1.9 percentage points compared to the first quarter.This may be because Ethereum has become a well-established ecosystem and is familiar to investors, so it is no longer seen as a new, trending cryptocurrency narrative.At the same time, attention to the Ethereum ecosystem is increasingly spread to the Layer 2 ecosystem built on it.

Overall, the 20 most popular blockchain ecosystems represent 97.0% of investors’ interest in specific blockchains.The remaining 3.0% of interest is distributed in another 47 blockchain ecosystems.

TON & Sui transcends the more mature blockchain ecosystem

Other blockchain ecosystems that are becoming more and more popular in 2024 are TON and Sui, ranking second only to the Ethereum ecosystem.The TON ecosystem currently accounts for 6.2% of global investor equity, up 4.3 percentage points since the first quarter, while the investor equity share of the Sui ecosystem has increased by 2.7 percentage points to 4.8%.

Therefore, the budding TON and Sui ecosystems surpass the BNB Smart Chain, Cosmos and Avalanche ecosystems in terms of ranking and market share.Compared with the popularity in the first quarter, the market share of all three established blockchain ecosystems fell: the market share of the BNB smart chain ecosystem fell by 1.3 percentage points to 4.1%, whileThe market share of the Cosmos ecosystem fell by 2.0 percentage points to 2.5%, while the market share of the Avalanche ecosystem fell by 1.8 percentage points to 2.1%.

Bitcoin, Tron and Blast ecosystems are among the top

Investor interest in the Bitcoin, Tron and Blast ecosystems has increased since the first quarter, which has made them jump to the forefront of the Bitcoin-strengthening and native meme coins that support rune standards.Similarly, the market share of the Tron ecosystem grew from 0.02% to 1.02%, and the market share of the Blast ecosystem grew from 0.30% to 0.75%.

These 3 blockchain ecosystems replaced the Injective, PulseChain and Hedera ecosystems, and the investor interest share fell by 0.21 to 0.34 percentage points.