The crypto market has shown dramatic shifts in narrative performance, with AI-driven technologies emerging as clear winners in the final month of 2024. 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%. However, the AI 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 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%