Wu said that CoinGecko released the 2025 crypto narrative return rate rankings, showing that RWA ranks first with +185.76%, followed by Layer 1 (+80.31%) and Made in USA (+30.62%). The worst performers are Meme (−31.61%), DeFi (−34.79%), Layer 2 (−40.63%), AI (−50.18%), DEX (−55.53%), Solana ecosystem (−64.17%), Gaming (−75.16%), and DePIN (−76.74%).

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