Based on the info highlighted by CoinGecko, the 2024 cryptocurrency market underscored large development in sure narratives. Amongst all of the narratives, Synthetic Intelligence (AI) led the pack with an astonishing 2,939.8% price acquire year-to-date (YTD). After that, memecoins confirmed staggering returns of two,185.14% YTD. Considerably, these two narratives are the outperformers of the 12 months. They seemed to be essentially the most worthwhile investments of the 2024.
CoinGecko Showcases Meteoric Rise of Synthetic Intelligence (AI) in December 2024
This 12 months ended with a robust rally of synthetic intelligence (AI), doubling its return from 1,598.1% to 2,939.8% in December. The rising recognition of the Virtuals Protocol ($VIRTUAL) drove this explosive development of AI.
On December 9, memecoins led the market with its phenomenal positive aspects by peaking at 3,211.4%. Nevertheless, the curiosity light on this narrative by the tip of the 12 months. This waned curiosity permitted AI to turn out to be essentially the most worthwhile narrative of 2024 by surpassing memecoins.
Actual-Phrase Property (RWA) Exceeds, Making GameFi and Layer 2 Stumbled
The third place was secured by the real-world belongings (RWA) narrative. It scored a mean of 819.5% YTD return and all year long, skilled regular development. Furthermore, it confirmed a exceptional turnover in November by initiatives like MANTRA ($OM).
As per CoinGecko report, Different narratives additionally recorded exceptional positive aspects like Layer 1 and DePIN. They confirmed 142.5% and 135.4% development respectively whereas outperforming Bitcoin’s YTD return of 125.5%. After them, by exhibiting its resilience, DeFi secured a 101.4% return however couldn’t seize the high-growth attraction of AI and memecoins.
GameFi and Layer 2, in distinction to the above narratives, struggled to ship worth. They posted YTD returns of 14.7% and 20.7% respectively. Six out of the ten tokens of GameFi suffered 32.9% of losses whereas Layer 2 appeared because the weakest performer of the 12 months. It underscored 20.7% of destructive returns because the sector was fragmented by the rising variety of initiatives.
The analysis by CoinGecko reveals the unstable and opportunist nature of the cryptocurrency market. AI and memecoins gained recognition and the remaining have been labeled as underperformers. It highlights the necessity for a strategic choice whereas selecting the narratives to realize most development.