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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 . CryptoIntelligence

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Crypto Analyst Justin Bennett Warns One Factor Could Trigger Massive Bitcoin Plunge – Here’s His Target

A closely followed crypto analyst says that one factor could cause Bitcoin ( BTC ) to plummet all the way down to $85,000. In a new thread on the social media platform X, crypto trader Justin Bennett tells his 115,700 followers that the next time prominent stablecoin Tether’s ( USDT ) dominance level (USDT.D) tests the 4.7-5% area, the crypto king will see a significant price decrease. “BTC is starting to break down. If USDT.D tests 4.7-5%, Bitcoin into $85,000 seems appropriate.” Source: Justin Bennett/X According to Bennett, the market won’t hit its bottom until Tether’s dominance levels reach the target area. An asset’s dominance level is the ratio between its market cap versus the market cap of the entire crypto market. “My plan hasn’t changed. I still think we’ll get Tether dominance into the 4.7-5% area before we see the crypto market bottom. Another 7% to go, give or take.” Source: Justin Bennett/X The crypto strategist goes on to say that USDT.D is on the rise and should hit the 4.7-5% area in the coming weeks. “The weekly chart says it all. Note how USDT.D closed above 4.29% two weeks ago and closed above last week. As long as this is holding on a weekly closing basis, that 4.7-5% area is next.” Source: Justin Bennett/X According to the analyst, as of this morning, BTC bulls have just under a day and a half to turn things around. “Bulls only have 33 hours to turn things around, which seems unlikely given today’s bloodbath from stocks. We’ll see.” The top crypto asset by market cap is trading for $92,046 at time of writing, a 1.9% decrease during the last 24 hours. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Garan Julia/Aleksandr Kovalev The post Crypto Analyst Justin Bennett Warns One Factor Could Trigger Massive Bitcoin Plunge – Here’s His Target appeared first on The Daily Hodl . CryptoIntelligence