Ah, December! A month where holiday cheer wasn't the only thing on the rise; AI agents in the crypto world took center stage with some show-stopping performances. Hold onto your hats because ai16z skyrocketed by a staggering 295%, and PHALA wasn’t far behind with a 209% increase. Meanwhile, meme coins and modularity narratives were feeling a bit under the weather, taking quite a tumble.
The crypto scene was like a thrilling rollercoaster ride with AI technologies absolutely dominating the final month of 2024. Everyone's buzzing about how these smart cookies are carving out a promising future. On the flip side, meme coins and modularity projects were having a bit of a rough patch, sliding down over the past 30 days.
Our pals at Dexu AI, who know all things Web3, revealed that AI agents were the stars of the show, boasting a whopping 72.2% return. Leading the pack were ai16z and Phala Network's PHALA token, dazzling everyone with their jaw-dropping gains. Virtuals Protocol and AiXBT also joined the party, with impressive gains of 132% and 125%, respectively.
Even Bitfinex got in on the action, suggesting that AI agents might just be the revolution the crypto world needs. Imagine AI bots handling transactions, managing your digital piggy bank, and even crafting investment strategies. The future looks bright!
But wait, there's more! Centralized exchange tokens also had a jolly good time, climbing 41.37% throughout the month. The “sweat-spot” sector, with its focus on blending blockchain with user-centric applications, saw a nice 24.4% bump.
Traditional spaces like decentralized finance (DeFi) and derivatives weren’t left out either, enjoying steady growth at 13.2% and 12.3%, respectively. Even real-world assets had something to celebrate with a 7.21% gain.
However, not everyone was toasting champagne. Modularity took a nosedive, losing 32.1%, while low-risk tokens slipped by 30.8%. Meme coins also had a rough ride, plummeting 28.7%, despite a previous report suggesting they were more popular than Bitcoin and Ethereum. Talk about a plot twist!
A bunch of top dogs in the meme coin world, like Dogecoin, Shiba Inu, Pepe, and Bonk, saw their prices shrink by double digits. Poor Dogwifhat took the hardest hit, losing nearly 41% of its value.
GameFi, privacy tokens, and decentralized physical infrastructure networks (DePIN) didn’t escape the downturn either. GameFi dropped 21.78%, and privacy coins fell 12.46%.
As for market cap, Layer 1 blockchains are still the kings of the hill, boasting a colossal $2.75 trillion, thanks mostly to Bitcoin's hefty $1.85 trillion valuation. Centralized exchange tokens follow with just over $129 billion, while meme coins, despite their December blues, are valued at nearly $86 billion. DeFi and AI aren’t too far behind, with caps just under $39 billion and a bit over $23 billion, respectively.
Privacy coins, low-risk tokens, and decentralized science (DeSci) are still the underdogs, with modest market caps. Privacy coins are at $2.72 billion, and DeSci remains a niche player with a $284 million valuation. Who knows what the new year will bring for these sectors? Stay tuned!
