Why App-Based Crypto Platforms Are Dominating 2023

crypto trading The cryptocurrency landscape is evolving at lightning speed, with application-based platforms leading the way. Recent stats reveal that top crypto apps have racked up over $6 billion in revenue this year alone, significantly outpacing traditional blockchain earnings. Meanwhile, meme coins are grabbing public attention, hitting all-time highs in trading volumes and market caps.

This shift towards apps like PumpFun and Hyperliquid marks a dramatic change in how value is captured in the crypto market, which has direct implications for you as a trader or investor.

In this article, we'll dig into actionable insights, trading strategies, and an overview of meme coins, showcasing their significance in today’s market dynamics.

🎯 KEY INSIGHT

In 2023, revenue from crypto apps reached about $6 billion, while blockchain networks generated only $2 billion, highlighting a major shift in revenue capture.

Meme coins have taken the crypto world by storm, known for their community-driven nature and social media buzz. Notable examples like DOGE and SHIB have amassed huge followings. Their appeal comes from the low entry cost and potential for explosive growth, often fueled by viral trends.

A closer look reveals that popular apps like PancakeSwap generated more revenue than entire blockchain ecosystems. In Q4 2022, PancakeSwap alone brought in $1.5 billion, while Ethereum-based projects collectively hit $1 billion in user fees.

Solana and Binance Smart Chain (BSC) are the go-to ecosystems for meme coins, offering lightning-fast transaction speeds and low fees. Solana boasts speeds of up to 65,000 TPS, while BSC's fees average less than $0.10, making them perfect for trading meme coins.

2.2 Notable Meme Coins You Should Keep an Eye On

• PEPE: Launched in 2023, this community-driven coin has seen its market cap soar beyond $1 billion.
• BONK: A community-centric token that surged in popularity, offering exciting opportunities for you, the savvy investor...