Largest Gainers of Q2 2024

The largest gainers of the second quarter of 2024 are Brett with 99.4% growth, followed by Toncoin at 40% and Kaspa at 37%. Monero and Pepe rounds up the top 5 with 29% and 28.6% gains respectively. Other top gainers in Q2 2024 include: JasmyCoin (28.3%), Ethereum Name Service (14.4%), Ondo (12.9%), WhiteBit Coin (11.1%) and Bitget Token (9%).

Key Takeaways

• Despite several positive attempts at regaining its uptrend, the crypto market recorded a net negative quarter in terms of general market value.

• The crypto market closed for the second quarter of the year at $200 billion short of its opening value. Bitcoin and Ethereum stayed below $70,000 and $3,500 respectively for most of the quarter.

• During this time, several crypto assets have managed to grow significantly in value. Some of these assets include Brett, Toncoin, Kaspa, Monero, and Pepe.

• In this article, we look at the best-performing crypto assets in the second quarter of 2024.

This article was updated in April 2024 to reflect price movements of Q2 2024 by Joel Agbo.

It was a quiet second quarter of the year for the crypto space. According to data obtained from CoinGecko, the crypto market opened for the second quarter of the year (2024) at a total market cap of just above $2.75 trillion and closed at $200 billion short of the opening value. 

Bitcoin’s regular swing between $60,000 and $70,000 price levels has kept the market undecided, and many altcoins endured a gradual sell-off. Bitcoin regained the $70,000 price level in the first week of June as the market showed signs of recovery. However, it succumbed to growing sell pressure, and bitcoin closed for the quarter just above $61,000, starting the next quarter on a muted note.

Amidst the struggles of the rest of the market, several projects in the top 100 cryptocurrencies by market cap recorded a positive second quarter, albeit with less significant growth than in the case of Q1, where the 10 top gainers enjoyed an average of 579% growth. In Q1, the lowest of the top 10 still enjoying over 150% growth, while in Q2, the largest gainer among the top 100 tokens only saw a 99.4% growth.

Now, let’s take a look at which projects were the top 10 gainers of Q2 2024 among the top 100 tracked assets by market cap. 

Do note that this list only looks at tokens that were listed before 1 April 2024.

 Brett (BRETT) – 99.4%

Coinbase’s Layer 2 network Base has become a fertile ground for meme coins. The trend began in the first quarter of 2024, and continued into the second quarter of the year. Brett is one of these meme coin projects on Base, and the meme coin ended Q2 as the largest gainer among crypto assets in the top 100 tokens by market cap, recording 99.4% growth. 

Brett is a meme coin that references one of the characters of Matt Furie’s iconic comic book – The Boys Club, which includes other characters-turned-meme coins like PEPE and ANDY. Brett opened for the second quarter at just above $0.076 per token on April 1, 2024, and almost doubled its value over the quarter. Brett closed for the second quarter at above $0.15 per coin, a 99%  price growth, and recorded a quarterly and all-time high of $0.193 on June 9, 2024. It has also enjoyed relative growth in general metrics (daily trading volume, holders, and social activity) during this time.

While Brett started out as a meme coin capitalizing on the meme coin boom in the crypto market, the project team and community has sustained its growth by stepping up on promotions around the asset in Q2. Brett was listed on multiple exchanges in April, bringing its total holders to over 150,000 holders, and although things quietened down until mid-May, its price returned to an upward trajectory following more exchange listings, token burns, and community-led marketing programs. 

On June 3, 2024, Brett reached a market cap of $1 Billion, making it the first billion-dollar meme coin on the Base Network. The asset was listed on Kucoin Exchange on June 9, 2024, and reached its quarterly and current all-time high of $0.193 on the same day. On June 17, Brett was added as a payment option on Travala, a travel booking platform.

In addition to the marketing programs and the exchange events during this time, the contributions of the Brett community have been a major factor in the project’s growth. Like several other meme coin communities, dedicated members of the community and influencers in the ecosystem have continued to push the narrative for the blue mascot of the Base chain. 

TON (TONCOIN) – 40%

The Open Network (TON) – which started as Telegram Open Network – has seen an increase in adoption thanks to the growing popularity of Tap-to-Earn gaming projects and meme coins on the network. TON connects Telegram users to web3 through integrated wallets and mini-apps within the messaging platform, and TON enjoyed generally positive growth in Q2, buoyed by Notcoin, a Tap-to-Earn game that has also reached a market cap of over $1 billion after launching a token in mid-May. 

Toncoin (TON) opened on the first day of the quarter at just above $5.40 and quickly grew above $7 per coin as Notcoin’s launch drew attention to the network and its ecosystem. On June 15, 2024, it recorded its quarterly and current all-time high of $8.25. It closed for the quarter at $7.58, netting a 40% gain, placing TON as the second biggest gainer of Q2 2024.

The likely major catalyst for TON’s growth in Q2 is the boom in TON-based Tap-to-Earn games on Telegram, as well as TON Foundation’s support of dApps and Telegram Mini Apps building on the TON ecosystem through grants and bounties. On June 13, TON announced that the network had reached a TVL of $500 million, and TON reached a new all-time high of $8.25 on June 15. 

In Q2, USDT was also launched on the TON blockchain, and TON was listed on more exchanges, including Crypto.com on June 11. To further add to the utility of TON, it was also integrated as a payment method on Travala on June 12. 

Kaspa (KAS) – 37%

Kaspa is a DAG optimized for routine P2P transactions. It boasts fast transaction finality, scalability, and an energy-efficient Proof of Work consensus mechanism based on GHOSTDAG. Kaspa has gained wide recognition as a decentralized payment infrastructure due to its ability to offer an improved user experience in this area while maintaining a PoW consensus mechanism. 

Kaspa enjoyed a positive second quarter of the year. It reached a new all-time high on June 30, 2024, after a consistent uptrend. KAS opened for Q2 at $0.139 and hovered around that price point between April to May. It briefly dropped below $0.11 on May 3, but managed to recover and grow further since this time. KAS picked up momentum in June following a run of positive events, it attained a quarterly high on the last day of the month at $0.197 per coin. It is the third largest gainer of Q2 with a 37% price growth.

The Kaspa development team and community spent the majority of April and May developing the mining structure of the project. The project moved from Golang to the Rust programming language, and most of the development during this period was centered around this event. Another major development during this period was the development of the KRC-20 token standard. KRC-20 is a token standard based on the Data Insertion mechanism. Like BRC-20 and SRC-20 tokens on the Bitcoin network, the KRC-20 protocol will enable anyone to inscribe data on the Kaspa network, including contracts for the generation and management of tokens on the network. Events surrounding the public launch of KRC-20 could be a major catalyst to the price growth experience in June. KRC-20 launched publicly on June 30; KAS reached its all-time high on the same date.

With massive user engagement around #KRC20 BETA Launch today, the KRC-20 network is experiencing some issues. (As expected in BETA phases) The @kasplex team is working on solutions.

That said, we are seeing the #Kaspa mainnet working flawlessly! We applaud those taking the… pic.twitter.com/pT7YxGMiCf

— Kaspa (@KaspaCurrency) June 30, 2024

Other relevant events for Kaspa in the second quarter include a proposal and fundraiser to integrate KAS on Ledger Wallet, listings on new exchanges and platforms, and developments around KAS mining 

Monero (XMR) – 29%

Monero is a PoW blockchain network designed for transaction privacy and censorship resistance. It obfuscates ledger records to ensure that transacting parties maintain their privacy while completing P2P transactions. Monero is the fourth largest gainer in the second quarter of the year amongst the top 100 crypto projects by market cap, with an increase in price of 29%.

It opened for the first day of Q2 at just above $128, and quickly rose to $136 about a week later, it maintained this range for the rest of April and most of May while building momentum for the following month. The month of June was majorly positive for the project as the value of XMR grew exponentially during this period. On June 13, 2024, it recorded its quarterly high of over $180.7. XMR consolidated within this range for the rest of the month, closing for the quarter at over $165.

The Monero community manages the project’s development, and under their watch, there have been several new developments, proposals, and integrations that may have contributed in different ways to the price growth it witnessed during this time. 

The MoneroKon, a conference and hackathon focusing on privacy-enhancing technologies and distributed systems, took place between 7 to 9 June. In addition to this, the Monero community also approved the proposal for the development of Full-Chain Membership protocol (FCM). According to the proposal, the FCM protocol will improve the privacy of senders in P2P transactions on the network.

Other key events during this period include Monero’s 10th year anniversary on April 18, the development of SeraiDEX – a decentralized exchange that supports Bitcoin, DAI, and Monero’s Generalized BulletProof (GBP) – a prerequisite for the Full-Chain Membership protocol.

Pepe (PEPE) – 28.6%

Pepe is a meme coin on the Ethereum network that references a character from Matt Furrie’s comic book – the Boys Club. The frog has also become an internet meme in his own right, and his popularity has reached the crypto space as well. Pepe is the fifth largest gainer among the top 100 cryptocurrencies by market cap, with a 28% gain in Q2.

Pepe opened for the first day of the quarter above $0.0587 and grew gradually in the first two months. However, events that took place in the final weeks of May steered the assets to more growth and a quarterly (and all-time) high of $0.000017 on May 27, 2024. Pepe closed for the second quarter at just above $0.00001.

Like all meme coins, Pepe’s growth has been propelled by its community which has grown steadily for the majority of its existence. The unfading enthusiasm of the community aided by recognition from top projects in the space has sustained the asset’s price and seen it grow significantly. Another catalyst to Pepe’s uptrend in the second quarter is the meme coin wave that has swept throughout the crypto space. News around the Ethereum ETF approval may also have led to Pepe’s growth, as key projects on the Ethereum network soared briefly following the approval of Ethereum ETFs by the SEC on May 23, 2024. Pepe reached a new all-time high just four days after this at $0.000017 per coin. It consolidated within this price range for the rest of May and June.

Other catalysts include promotional programs by crypto institutions and listings on more trading platforms. These programs include token giveaways by Robinhood and Binance exchange. Coinbase also announced that it had listed Pepe in its perpetuals trading platform on April 23, 2024. 

Jasmycoin (JASMY) – 28.3%

Jasmycoin is the native token of Jasmy, a project that leverages data collection and management as a service. Users can control the use of their personal data collected from IoT devices like smartphones and other tech wearables and get paid for sharing it with merchants. This data is securely stored in data lockers on the Jasmy platform, where data files are stored within the decentralized network with only hash values managed on the blockchain. 

JASMY’s Q2 started quietly. It opened on April 1, 2024, at $0.0218 per coin and traded within this range for the whole of April and most of May, dropping below $0.017 at brief intervals. During this period, the project team continued to market the project via meet-ups and community-led promotions. JASMY picked pace in the last week of May and grew exponentially for the majority of June. On June 7, 2024, it recorded its quarterly high of $0.0408 as the general market looked on the path of recovery. It closed for the month and Q2 at just above $0.028. JASMY netted a 28.3% gain in Q2 2024, placing it as the sixth largest gainer out of the top 100 projects. 

One possible reason for JASMY’s growth was the launch of JANCTION in May, an AI-focused Layer 2 blockchain incubated by Jasmy. JANCTION also operates a decentralized GPU marketplace to support the growth of the generative AI market by offering AI companies a way to source GPUs at a reduced cost. 

Other key catalysts to JASMY’s growth in the second quarter are marketing efforts by the team and new partnerships. On May 2, 2024, the project announced JANCTION’s partnership with C2E – an anonymous bulletin board with 4 million users in Korea. Together, they will be working towards a “mass adoption of blockchain technology” and developing the structure of “Community to Earn.” Jasmy has also launched JASMY programs in partnership with exchanges including DeGate and BITPoint, where users earn rewards for holding JASMY. 

Ethereum Name Service (ENS) – 14.4%

Ethereum Name Service (ENS) is a decentralized domain naming system on the Ethereum network. It enables Ethereum users to define a human-readable name for their wallet address, simplifying regular cryptocurrency operations through easily-memorable wallet addresses. ENS domains can also be used as decentralized websites.

ENS enjoyed quite an eventful second quarter of the year, this has resulted in a net positive price growth amidst a torrid quarter for the majority of the crypto market. ENS opened for trading on the first day of the quarter at $22.44 per coin and traded within this range for the first two weeks of the month before dropping below $13 on April 14, it spent the majority of the following month in recovery before returning to the $20 range on May 20, 2024. It continued to grow throughout June, peaking at $28.4 on the second day of June and consolidating within this range for the rest of the month. ENS closed for the second quarter at $25.68 per coin, netting a 14.4% growth, placing it as the seventh best-performing asset among cryptocurrencies ranked in the top 100 crypto by market capitalization.

As the main wallet naming service on the Ethereum mainnet and Layer 2 networks, it is a key project in the Ethereum ecosystem. Events surrounding Ethereum ETF approval by the SEC also contributed to ENS’ recovery and growth in the final weeks of May and early weeks of June. Another potential catalyst is the announcement of ENSV2, the next development stage for ENS protocol. According to the project, it will feature technological improvements and integration into Layer 2 networks. ENS released the project plan for the upgrade on June 20.

🚀 Introducing the ENSv2 Project Plan: Our Path to the Future of Naming.

We’re thrilled to share detailed project phases for the next generation of ENS.

— ens.eth (@ensdomains) June 20, 2024

Ondo Finance (ONDO) – 12.9%

Ondo Finance is multi-chain DeFi platform within the real-world assets (RWA) space. It tokenizes real world financial instruments like company shares, bonds, and government treasury. Ondo Finance has enjoyed a progressive adoption, gaining recognition from crypto-native and mainstream firms. It has also extended its services to institutions in both spaces.

Ondo opened for the first day of Q2 at just below $1 per coin and despite briefly dropping to $0.7 on April 13, its price recovered and set on a positive run for a majority of the quarter. After spending most of May in recovery, ONDO grew exponentially in June. It peaked for the month and the second quarter of the year at $1.48 on June 3, 2024. The generally positive outlook of the market in addition to the project team and community’s efforts were major catalysts. ONDO traded within this range for the rest of the month and closed for Q2 at $1.11 per coin. It is the eighth biggest gainer in the second quarter amongst the top 100 ranked crypto assets.

Ondo Finance operates two tokenized assets; USDY (Ondo US Dollar Yield Token) and OUSG (Ondo Short-Term US Government Treasuries). USDY is a tokenized note accessible to non-US citizens, secured by short-term US Treasuries and bank demand deposits while OUSG provides liquid exposure to short-term US treasury. Both assets grew in terms of adoption and TVL in the second quarter. Projects like Mantra, Zebec, and MSafe integrated USDY into their platforms in Q2. On May 16, Ondo Finance announced that both assets have reached a cumulative TVL of $420 million, making it the largest provider of US treasuries. This figure would grow by $80 million on June 5 according to an announcement by the project as ONDO price rallied to a new all-time high just two days before. 

Ondo Finance is proud to share that we have surpassed $500M in TVL across our yield-bearing products!

🔹 $OUSG TVL: $221M
🔹 $USDY TVL: $286M

We are the leading yieldcoin provider in this $1.5B growing market, alongside BlackRock & Franklin Templeton.

Our yield-bearing,… pic.twitter.com/EbgtqyHNN8

— Ondo Finance (@OndoFinance) June 5, 2024

WhiteBit (WBT) – 11.1%

WhiteBit is a custodial cryptocurrency exchange that allows users to trade assets supported on its platform. It offers spot and derivative trading services for crypto assets. WhiteBit also operates WhiteChain, an EVM-compatible Layer 1 network powered by the WhiteBit Coin. According to WhiteBit, the network offers cheap transaction fees, fast transaction execution and significant advantages to the WhiteBit ecosystem.

WhiteBit and its community enjoyed an action-filled second quarter of the year with several community events, new token listings, and promotional events for the projects. The result is a net 11.1% growth in the value of its native token, WBT. WBT opened for trading on April 1, 2024, at $8.57 per coin and set on the path of growth for the rest of the month. WBT grew gradually throughout April and peaked at $10.2 on the first day of May. It maintained this price range for the rest of the second quarter, closing at $9.52 per token on June 30.

Some likely major factors in WhiteBit’s growth in the second quarter are token listing events, partnerships with other projects, and community activities. In May, WhiteBit launched Pocket-Rocket, a Telegram-based game for the WhiteChain community. The game requires players to mine crystal rocks and upgrade their spaceships to earn points and progress in the leaderboard. WhiteBit also added support for several assets on its perpetual trading platforms and listed even more assets including Wormhole’s W token, Notcoin, and IO.net on its spot trading platform. The project also launched several promotional events including trading competitions and sports programs in conjunction with its partner sports club – FC Barcelona. WhiteBit’s 11.1% price growth in the second quarter is the ninth-best among crypto assets ranked in the top 100.

Bitget Token (BGB) – 9%

Bitget is a custodial crypto asset trading platform that offers spot and derivative trading services to cryptocurrency investors. It also offers self-custody services via the Bitget wallet and extra financial services such as savings plans and copy-trading facilities, including a Telegram-based copy-trading bot.

The Bitget Token (BGB) recorded a 9% growth in value in the second quarter of the year with much of this growth happening in April and June. It spent most of May in consolidation. The price development in the final week of May saw the asset reach a new all-time high at $1.48 per coin on the first day of June. It traded within this price for the first two weeks of June before dropping below $1.1 on June 25, 2024. BGB ended Q2 on June 30 at $1.14 per coin. It is the tenth-largest gainer among the top 100 ranked crypto assets.

Bitget conducted several promotional events in the second quarter, including promotions in partnership with newly listed assets, exclusive trading competitions, and trivia. The community-led events boosted the project’s social activities and presence during this time. Bitget also announced spot and derivatives listings for several new assets in the second quarter. The pre-market platform for TGE events also stayed busy as it offered pre-launch trading for several new assets. Other potentially relevant events in the second quarter include appearances at summits, involvement in meme coin promotions, and Bitget’s announcement of a $20 million TON Ecosystem Fund to support early-stage projects building on TON alongside investment firm Foresight Ventures.

Final Thoughts and Methodology

The market momentum for the second quarter of the year stayed mostly bearish. Bitcoin has been a huge decider as it struggled for most of the second quarter, albeit with periodic price jerks. Most altcoins have endured even more losses during this time. Most leading narratives have been unable to overcome the general market momentum and have stayed dormant, with one notable exception being meme coins, as tokens like ANDY and APU boasting over 1,000% gains.

In this article, we looked at the top gainers for Q2 based on CoinGecko data from the top 100 cryptocurrencies by market cap between April 1 to June 30 2024. This list does not include projects that launched mid-way through the quarter, like Notcoin. 

This article is only meant to share information on these projects for educational and informational purposes, and should not be taken as financial advice. Always do your own research before investing in crypto assets. Featured projects are not endorsed.