Top 5 Crypto Narratives for 2024
Crypto narratives are powerful stories & themes that shape the perception & direction of the cryptocurrency market.
Crypto narratives are powerful stories & themes that shape the perception & direction of the cryptocurrency market.
They influence investor sentiment, highlight technological innovations, fuel growth & enthusiasm, and drive investment & adoption trends.
The narrative of the 2017 Bull Run was Initial Coin Offerings (ICOs).
The narrative of the 2020-21 Bull Run was DeFi (Decentralized Finance), NFTs (Non-Fungible Tokens), and increased institutional interest in cryptocurrencies.
According to me, the Top 3 Crypto Narratives for 2024 are:
Real World Assets (RWAs)
Decentralized Physical Infrastructure Networks (DePIN)
GambleFi
Liquid Restaking Tokens
Liquid Staking Derivatives
1. Real World Assets (RWAs)
Real World Assets (RWAs) are tangible or off-chain assets that are tokenized for use in the DeFi ecosystem to generate yield. Examples include real estate, precious metals, commodities, and art.
The top 10 RWA cryptos by market capitalization are:
Ondo (ONDO)
Centrifuge (CFG)
Pendle (PENDLE)
Polymesh (POLYX)
Mantra (OM)
LCX (LCX)
Creditcoin (CTC)
Dusk (DUSK)
Maple (MPL)
AllianceBlock Nexera (NXRA)
2. Decentralized Physical Infrastructure Networks (DePIN)
DePIN = Blockchain + Physical Infrastructure
DePIN is revolutionizing how we manage & interact with physical infrastructure through decentralization, such as energy grids, water supply systems, and transportation networks.
Decentralization is about shifting control and decision-making from a central authority to a distributed network.
The top 10 DePIN cryptos by market capitalization are:
Filecoin (FIL)
Render (RNDR)
Arweave (AR)
Theta network (THETA)
Helium (HNT)
Akash Network (AKT)
Iota (IOTA)
Iotex (IOTX)
Holo (HOT)
Siacoin (SC)
3. GambleFi
GambleFi = DeFi + Online Gambling
GambleFi enables users to bet and gamble through blockchain technology. GambleFi leverages the transparency, security, and trustlessness of blockchain to offer a fairer and more transparent gambling experience compared to traditional online gambling platforms.
The top 10 GambleFi cryptos by market capitalization are:
Rollbit Coin (RLB)
Funtoken (FUN)
TG.Casino (TGC)
SX network (SX)
Blockchain Bets (BCB)
Decentral Games (DG)
WINR protocol (WINR)
Bazed games (BAZED)
Ridotto (RDT)
Solcasino token (SCS)
4. Liquid Restaking Tokens
Liquid Restaking Tokens solve the liquidity problem in traditional staking mechanisms within the blockchain ecosystem.
When users stake their cryptocurrencies to support network operations, their assets typically become locked up and unusable for a certain period, reducing their liquidity.
Liquid Restaking Tokens address this issue by providing users with tokens that represent their staked assets. These tokens can then be used freely across the DeFi ecosystem, allowing users to earn staking rewards while still maintaining liquidity.
Liquid Restaking enhances the flexibility & utility of staked assets, enabling users to participate in other investment opportunities without sacrificing their staking positions.
The top 5 Liquid Restaking Tokens by market capitalization are:
Kelp DAO Restaked ETH (RSETH)
Wrapped eETH (WEETH)
Restaked Swell ETH (RSWETH)
Renzo Restaked ETH (EZETH)
ether.fi Staked ETH (EETH)
5. Liquid Staking Derivatives
Liquid Staking Derivatives are a specific type of financial product that emerges from the process of staking cryptocurrencies. When users stake their assets in a proof-of-stake blockchain, they receive derivative tokens in return. These derivative tokens represent the staked assets plus any future staking rewards.
Unlike Liquid Restaking Tokens, which primarily aim to preserve liquidity, Liquid Staking Derivatives add an extra layer of utility by acting as a new asset class. They can be traded, lent, or used as collateral, thus opening up new avenues for investment and financial strategies within the DeFi space.
This not only retains the liquidity of the original staked assets but also leverages their potential to generate additional yield across various DeFi platforms.
Warning: Crypto Narratives require careful scrutiny to separate hype from genuine potential.
Original post: https://www.rohasnagpal.com/blog-post.php?url=top-5-crypto-narratives-for-2024