Zinger Key Points
- Arndxt spotlights AI's growing influence in crypto and teases a potential boom in the gaming and Real-World Asset sectors.
- 2024's changing crypto trends were a rollercoaster ride for market observers.
- Get Monthly Picks of Market's Fastest Movers
Pseudonymous cryptocurrency trader Arndxt shared his observations on the shifting narratives within the cryptocurrency space this year, highlighting the strength of the AI sector and the resurgence of Decentralized Finance (DeFi).
What Happened: Arndxt also discussed the brief comeback of meme coins, the debate around Layer-2 solutions, the Bitcoin halving and ETFs.
He noted Aave AAVE/USD and Compound COMP/USD slowly gaining momentum, while newer entrants like Ethena Labs ENA/USD hold strong.
Meme coins are seeing a short-term spike due to Tron founder Justin Sun, but the trader sees speculative energy flowing back into established ecosystems like Solana SOL/USD and Base.
The top Solana meme coins are Dogwifhat WIF/USD, Bonk BONK/USD, Popcat POPCAT/USD and others. Base meme coins are Maga TRUMP/USD, Brett BRETT/USD, and Mog Coin MOG/USD.
Data via Arndxt
Arndxt also highlighted the growth in chain abstraction and account abstraction and expressed his anticipation for the gaming and Real-World Asset (RWA) sectors.
Why It Matters: Arndxt’s analysis provides valuable insight into the current state of the crypto market. His observations on AI’s continued dominance despite diminishing returns, the resurgence of DeFi due to institutional involvement, and the potential of L2s as a proxy for Ethereum ETH/USD investments, offer a comprehensive overview of the market’s dynamics.
The brief resurgence of meme coins, the underperformance of BRC20 tokens, the Bitcoin halving and the growth in chain and account abstraction, highlight the volatility and rapid evolution of the crypto space.
Arndxt’s anticipation for the gaming and RWA sectors, along with his mention of specific projects to watch, provides valuable guidance for those navigating the complex and ever-changing crypto landscape.
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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Image: Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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