Meme and AI token indices have plummeted 50% from their December highs, while the US concept and DeFi indices have shown relative resilience
ChainCatcher news, according to The Block, based on GMCI index data, the Meme and AI token sectors have experienced the most severe declines during the recent market adjustment, with the GMMEME and GMAI indices down 60% and 56% respectively from their peaks in December 2024. Additionally, several sectors such as GML2, GMDEPIN, GMGM, and GMSOLMEME have returned to levels seen before the U.S. elections.In contrast, the U.S. concept (GMUSA) and DeFi (GMDEFI) indices have shown relatively robust performance. The GMUSA index has only retraced 29% from its peak in January 2025, covering projects like SOL, XRP, DOGE, ADA, LINK, LTC, and XLM. The GMDEFI index is down 38% from its December peak, but still outperforms the Meme and AI tokens. The GMDEFI components include LINK, OM, UNI, ONDO, AAVE, and MKR.Overall market-wise, the GM30 index (top 30 cryptocurrencies) has fallen 24% since December, primarily supported by the relative stability of BTC, XRP, and BNB, while other altcoins have generally weakened. BTC dominance (BTC.D) has increased by 13%, indicating that funds are concentrating towards Bitcoin, reflecting a massive sell-off in the altcoin market.