Gaming and DePIN recorded the steepest losses at negative 75.2% and 76.7% across major tokens
Popular crypto narratives meme coins and artificial intelligence recorded substantial losses in 2025 despite maintaining the highest investor interest.
Meme tokens averaged negative 31.6% returns while AI crypto fell 50.2% year-to-date. The underperformance stands in stark contrast to Real World Assets and Layer 1 blockchains, which posted gains of 185.8% and 80.3% respectively.
The disconnect between popularity and profitability highlights shifting market dynamics across crypto sectors.
Meme coins ranked among the most discussed crypto narratives throughout 2025 but failed to translate attention into positive returns.
The sector posted average losses of 31.6% across major tokens. Individual meme coins declined between 44.6% and 82.5% during the year, with Ribbita by Virtuals standing as the sole exception to the downward trend.
Artificial intelligence tokens experienced even steeper declines despite substantial hype surrounding AI technology.
The narrative recorded average losses of 50.2% year-to-date. Most large AI crypto tokens fell between 49.8% and 84.3%, with only Alchemist AI and Kite avoiding significant drawdowns.
The poor performance extended beyond these two sectors. DeFi matched meme coin losses at negative 34.8% while DEX tokens declined 55.5%, mirroring AI sector weakness.
Layer 2 solutions continued their struggles with negative 40.6% returns, marking a second straight unprofitable year. Gaming and DePIN narratives performed worst overall, plunging 75.2% and 76.7% respectively.
Real World Assets emerged as 2025’s strongest performer with 185.8% average gains across leading tokens.
Keeta Network drove returns with a 1,794.9% surge, while Zebec Network added 217.3% and Maple Finance gained 123.0%. Nevertheless, RWA’s performance represented only one-quarter of the previous year’s 819.5% returns.
Layer 1 blockchains secured the second position with 80.3% average gains. Privacy-focused chains dominated the category as Zcash rallied 691.3% and Monero climbed 143.6%.
Bitcoin Cash, BNB, and Tron contributed additional gains, helping Layer 1 achieve its second consecutive profitable year.
Made in USA completed the list of profitable narratives with 30.6% returns. Zcash’s exceptional performance single-handedly drove the category into positive territory, offsetting moderate losses from remaining tokens.
The Solana ecosystem narrative declined 64.2% despite maintaining the highest mindshare among blockchain ecosystems. Jupiter’s JLP posted marginal gains while other major Solana tokens fell between 33.5% and 83.1% during the period.
