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Crypto Potato 2024-12-30 20:17:32

AI Agents Lead Crypto Narratives With 67% Gains in 30-Day Market Performance

The crypto market has shown dramatic shifts in narrative performance, with AI-driven technologies emerging as clear winners in the final month of 2024. In contrast, meme coins and modularity projects have experienced significant declines in the last 30 days. Winners and Losers The latest data from Web3 analytics platform Dexu AI shows that AI agents generated an impressive 72.2% return over the past month, led by ai16z (AI16Z) and Phala Network’s PHALA token. At that time, AI16Z saw its value rise by nearly 295%, while PHALA added 209% to its price. Other strong performers here were Virtuals Protocol (VIRTUAL), which gained 132% in 30 days, and the crypto market intelligence token AiXBT, which rose by 125%. Recently, Bitfinex posited that AI agents could revolutionize crypto with their ability to perform tasks like executing transactions, managing digital wallets, and crafting investment strategies. However, the category wasn’t the only success story in December. Centralized exchange (CEX) tokens also performed well, with the narrative climbing 41.37% across the month. Further, the “sweat-spot” sector, which focuses on projects combining blockchain functionality with user-focused applications, saw a respectable 24.4% rise. Other traditional spaces, such as decentralized finance (DeFi) and derivatives, experienced relatively smaller but steady growth at 13.2% and 12.3%, respectively. Additionally, real-world assets (RWA) also did well, gaining 7.21%. Nevertheless, the previous 30 days were not so profitable for the rest of the narratives. The retractions were led by the modularity category, which lost 32.1%, and low-risk tokens (LRTs), which dipped by 30.8%. Meme coins also saw a substantial 28.7% decline, possibly reflecting investor fatigue. This was despite a recent Binance report indicating that such tokens had overtaken Bitcoin and Ethereum in terms of ownership. Per data from CoinGecko, many of the highest-capped assets in the category, including Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and Bonk (BONK), saw their prices dip by double digits over 30 days. The biggest casualty among them was dogwifhat (WIF), shedding nearly 41% of its value in that period. Additionally, GameFi, privacy tokens, and decentralized physical infrastructure networks (DePIN) also experienced losses, with GameFi sinking 21.78% and privacy coins dropping 12.46%. L1s Top Market Cap In terms of market capitalization, Layer 1 (L1) blockchains remain dominant at $2.75 trillion, pushed mainly by Bitcoin’s $1.85 trillion valuation. Centralized exchange tokens boast the second-highest worth at just over $129 billion, followed closely by meme coins, which, despite a generally poor December, are still valued at nearly $86 billion per Dexu AI. Categories like DeFi and AI follow a bit further behind, with the former capped at just under $39 billion and the latter valued at slightly over $23 billion. Narratives with the smallest market size include privacy coins, LRTs, and decentralized science (DeSci). As of December 30, privacy coins were capped at $2.72 billion, while DeSci remains a niche sector priced at only $284 million. The post AI Agents Lead Crypto Narratives With 67% Gains in 30-Day Market Performance appeared first on CryptoPotato .

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