Meme coins and AI tokens generated significant hype in the 2025 cryptocurrency market, but in terms of actual returns they posted the weakest performance. Real-world assets (RWA) and Layer 1-centric assets showed a clear rebound, signaling a reshaping of market leadership.
Across the year, meme tokens declined widely, with most meme coins down 44.6% to as much as 82.5%, while the lone exception was Ribbita, which rose. AI-themed tokens fared similarly, with nearly all tokens dropping between 49.8% and 84.3%, except for Alchemist AI and Kite. DeFi, DEX and Layer-2 narratives likewise underperformed. However, the real-world asset (RWA) segment outperformed, with an average rise of 185.8%, led by Keeta Network’s surge of 1,794.9% and gains in Zevak Network and Maple Finance.
The Layer-1 theme also strengthened, with privacy coins leading gains. Privacy-focused blockchains such as Zcash and Monero rose, supported by recoveries in Bitcoin Cash, Binance Coin, and Tron. Among the profitable themes this year, only RWA and Layer-1 posted two-year profitability growth.
The Solana ecosystem also drew attention but fell 64.2%, underscoring a disconnect between sentiment and returns. The market appears to be evolving from hype toward tangible utility and stability, with indicators suggesting that real-world asset value and privacy-enhancing technologies will gain prominence as the market matures.
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