Top 3 Strongest Crypto Narratives Of 2024

Narratives help market participants understand the developments taking place, why they are taking place, and what to expect in the future.

Staying ahead of popular narratives can position you for huge gains. As we transition into 2024, several narratives hold promise in determining the market’s trajectory. This article will cover the top three narratives of 2024 in detail. But first, let’s explore how you can identify narratives early.

How to Spot Crypto Narratives

Narratives usually play out in a time-based pattern. Identifying whether the narrative is short, mid, or long-term depends on the distinct features is essential. 

There are a few ways to catch narratives earlier:

• Analyze sector-specific movements over some time using platforms like CoinGecko. These movements signify capital inflows into projects within the sector. After spotting significant gains, it’s important to do some research to gain insight into the specific catalysts for the narrative.

• Social intelligence plays a huge role in identifying narratives. Crypto Twitter is one of the best platforms to identify narratives early. Simple; when people start talking about it, the marketing and exposure are enough to fuel a snowball effect that triggers capital inflows to a sector. Tools like LunarCrush can help you aggregate a broad amount of social data into actionable insights.

• Events outside the realm of crypto trigger some narratives. Macroeconomic and regulatory factors are notorious for determining the market’s trajectory, especially in the short term. Pay close attention to these as they can provide valuable insights into the market.

After identifying a potential narrative, the next step is researching a specific project within that narrative. Again, platforms like CoinGecko and CoinMarketCap come in handy. Use analytical tools like DefiLlama, Dune Analytics & Footprint Analytics for a more detailed analysis.

Important metrics to keep track of include the market capitalization and fully diluted volume. 

Market capitalization is a product of the total number of coins in circulation multiplied by the price per coin. Low market capitalization projects are generally more risky to invest in but have a higher upside potential. Choose projects based on their potential and your risk appetite.

Fully diluted volume(FDV) represents the total value of a crypto asset, assuming all tokens are in circulation. While the market cap only considers the tokens in circulation, it doesn’t account for token inflation. Token inflation affects the value of a coin, so it’s essential to understand this metric.

With this in mind, let’s explore the critical narratives to focus on in 2024.

Key Narratives for 2024: A Comprehensive Analysis 

As we head into 2024, the crypto landscape unfolds with promises of transformative breakthroughs and market shifts amidst a looming bull run. Three distinct narratives emerge as the possible dominant forces attracting huge capital inflows.

Let’s delve into the top three narratives that will undoubtedly shape the market in 2024

1. Artificial intelligence 

No single technology has the potential to revolutionize human life like AI. 2023 was a testament to the growing symbiosis between humanity and AI. The emergence of ChatGPT and Bard ignited a mini-bull run for AI tokens, and the AI trend continues with its hype.

So far, no narrative in a bear market has received so much attention and exhibited extraordinary performance across multiple tokens. This outstanding performance shows how bullish investors are on the AI narrative.

The total market cap for the AI sector is only about $6 billion. This is negligible, considering AI will be widely adopted in the coming years. As more companies look into integrating AI and web3 solutions, the AI narrative will stand out as one of the best performers over time.

Some AI projects to look out for:

1. Bittensor(TAO)

Market Cap: $1.7bn

Bittensor(TAO) is a decentralized network connecting machine learning models globally, functioning like a collective brain with distributed 'neurons.' These models collaborate to process information, resembling the synergy of neurons in the human brain. 

Bittensor utilizes a unique blockchain architecture built on the Substrate framework, the same one that powers Polkadot. Bittensor establishes a decentralized machine learning protocol, enabling the creation of purpose-built blockchains for seamless connectivity.

2. Render(RNDR)

Market Cap: $1.7bn

Render (RNDR) is a trailblazer in integrating AI, blockchain, and graphics rendering. Built on Ethereum, Render serves as a decentralized GPU rendering network, providing users access to a global GPU resource marketplace.

Render’s solutions position it as the blockchain counterpart to industry leaders such as NVIDIA.

3. SingularityNet(AGIX)

Market Cap: $421m

SingularityNET (AGIX) is a decentralized AI services marketplace, enabling developers to create and market AI applications. Utilizing blockchain and smart contracts ensures a secure and transparent environment for AI service transactions. 

AGIX, the native token, facilitates transactions, incentivizes network participation, and rewards contributors, enhancing the platform and its core AI functions.

4. Ocean Protocol(OCEAN)

Market Cap: $300m

Ocean Protocol (OCEAN) is a decentralized, secure, transparent data exchange platform. Businesses and individuals can safely share data, with AI integration enabling AI-powered data services. 

OCEAN, the native token, serves as the central incentive and payment method, rewarding active network participation and facilitating transactions for data and AI services.

5. Autonolas(OLAS)

Market Cap: $319m

Autonolas is a consolidated network of off-chain services, including automation, oracles, and co-owned AI. It offers a modular stack for building such services and a protocol to incentivize their development. 

Autonolas’ services are well-suited for merging crypto and AI, executing intricate logic in a decentralized manner, and autonomously interacting with both on- and off-chain data continuously.

Other AI tokens:

• PAAL AI(PAAL): AI-powered chatbot that enhances UX on platforms like Discord and Telegram. MC:$124m

• OctaSpace(OCTA): Cutting-edge distributed computing platform. MC: $20m

• Akash Network(AKT): Decentralized computing marketplace. MC: $514m

2. Real World Assets(RWA)

Real-world assets (RWAs) are tokens, whether fungible or non-fungible, that represent traditional financial assets on the blockchain. These tokens are pegged to assets like real estate or intangible assets such as treasury bonds or carbon credits. Through tokenization, RWAs leverage blockchain technology to bring efficiency to transactions involving valuable assets. 

RWAs are one of the most significant narratives for the long term because of a distinct reason.

The global RWA valuation is over $600 trillion. Today, the tokenized RWAs market cap accessible on-chain is only about $2 billion. Bringing only 1% of RWAs on-chain would result in a $6 trillion valuation, way more than the current total cryptocurrency market cap. BlackRock estimates that the tokenized RWA market could grow to $16 trillion by 2030.

If you’re looking for exposure to RWAs, here are the best projects to consider:

1. Maple Finance(MPL)

Market Cap: $117m

Maple Finance offers a capital-efficient DeFi-powered solution for institutional borrowing and fixed-income lending. In contrast to other platforms providing collateralized borrowing and variable rates, Maple offers undercollateralized lending for borrowers and transparent fixed-income opportunities for lenders on-chain. 

Lenders can secure sustainable yields by providing loans to thoroughly vetted institutional borrowers while pool delegates launch, manage, attract capital, and commit loans within lending pools. 

2. Centrifuge(CFG)

Market Cap: $310m

Centrifuge is a DeFi lending protocol that enhances credit accessibility for small businesses. Centrifuge cuts the costs of traditional off-chain securitization using open-source infrastructure to reduce the intermediary costs and complexity of TradFi.

The platform's native token, CFG, is pivotal in fortifying platform security, providing users with transaction fee incentives, and facilitating active engagement in network governance and asset staking.

3. Pendle(PENDLE)

Market Cap: $278m

Pendle is a DeFi protocol that facilitates the tokenization and trading future yield. Its primary objective is to empower users with control over prospective yield by introducing optionality. 

At the core of Pendle's technology is yield tokenization, a process that segregates any yield-bearing asset into distinct yield and principal components, thereby providing enhanced control. Pendle supports multiple networks such as Ethereum, Arbitrum, BNB Chain, and Optimism.

https://x.com/pendle_fi/status/1681287902515585030?s=46&t=nznXkss3debX8JIhNzHmzw

4. Landshare(LAND)

Market cap: $837m

Landshare is a tokenized real estate investment platform on the Binance Smart Chain. Landshare streamlines the creation of virtual real estate portfolios, allowing users to acquire fractional ownership of properties easily. 

Within the network, assets are tokenized, allowing users to buy or trade them using cryptocurrencies.

5. Realio(RIO)

Market Cap: $4.7m

Realio is an interoperable Layer-1 multi-chain web3 ecosystem for issuing and managing digitally native RWAs. 

Realio strives to integrate the accessibility of a fully on-chain decentralized peer-to-peer exchange with the functionalities of an issuance and investment platform.

Other RWAs tokens:

• Goldfinch(GFI): Decentralized global credit protocol. MC: $96m

• Propchain(PROPC): Consumer-focused platform for tokenized real estate investments. MC: $23m

• Galileo Protocol(LEOX): Tokenization platform for luxury products. MC: $13m

• Clearpool(CPOOL): Decentralized lending protocol for institutions. MC: $30m

• Credefi(CREDI): Peer-to-peer lending platform that combines DeFi and TradFi best practices. MC: $5m

3. GameFi

GameFi is another hot narrative well-positioned to perform well in the coming years. Web3 infrastructure offers one of the best methods to distribute value within gaming ecosystems, and the resulting potential could be huge.

The gaming sector boasts more than 2 billion users globally. Most gamers are well-acquainted with technology, making it easier to onboard them into web3. Onboarding one-third of regular gamers to the blockchain translates to more than 600 million users, a huge market for GameFi projects.

So far, GameFi projects have registered a solid performance within the bear market. More and more users are attracted to the profitable economic models enabled by GameFi. Top GameFi projects to consider are:

1. Nakamoto Games(NAKA)

Market Cap: $155m

Nakamoto Games is a decentralized platform offering diverse games for global user engagement. The platform's primary objective is to establish a channel for users to generate modest and sustainable income while enjoying games within the blockchain environment.

Nakamoto Games has made several achievements:

• Hosts over 300 live P2E games

• Registered over 165,000 users

• Won "Best Play-to-Earn Project of 2023"

• Developed a multi-coin and multi-chain wallet on Telegram

• The mobile app is in development

NAKA will be one of the best-performing gaming tokens in 2023, and the trend is expected to continue, given its outstanding roadmap, which can be found below. 👇

2. Shrapnel(SHRAP)

Market Cap: $87m

Shrapnel is the first AAA shooting game built entirely on the blockchain, Avalanche. Shrapnel adopts the first-person shooter(FPS) style, showcasing an environment and gameplay reminiscent of popular titles like Call of Duty, Battlefield, and Warface.

Consider the global impact of Minecraft and Roblox on millions of players. Shrapnel aspires to become the next major FPS franchise for the next generation of players, offering improved content creation tools and opportunities for monetization.

3. Big Time(BIGTIME)

Market Cap: $105m 

Big Time is a free-to-play, multiplayer action RPG game that combines fast-action combat and adventure through space and time.

Drawing in millions of players and fans with NFT rewards and BIGTIME tokens, Big Time has accomplished significant milestones in the GameFi sector. These achievements include selling over $100 million in NFTs, attaining the title of Twitch's most streamed web3 game, and receiving multiple awards.

4. Star Atlas($ATLAS)

Market Cap: $93m

Star Atlas is a next-generation gaming Metaverse that combines blockchain technology, real-time graphics, multiplayer video games, and DeFi.

As players venture through the galaxy, they are rewarded with ATLAS tokens, which serve as currency for acquiring in-game assets like weapons, ships, land, and mining equipment, represented as NFTs.

5. Dubbz(DUBBZ)

Market Cap: $54m

Dubbz empowers game developers to tap into web3's potential without prior knowledge of blockchain. Dubbz’s vision is to merge traditional gaming with tokenized web-3 ecosystems.

With their SDK, Dubbz brings blockchain-based wagering to titles such as Call of Duty, FIFA, Fortnite, and more. As many users opt for GameFi products, Dubbz will significantly integrate existing games with tokenized environments.

Conclusion

Staying ahead of narratives is one of the best ways to profit from the crypto market. Beyond charts and technicalities, narratives determine the performance of the broader crypto market.  

As we transition to 2024, three narratives stand out as possible best performers. AI, RWAs, and GameFi have so much potential, given their unique problem-solving capacity and market size. It’s essential to embrace a detailed understanding of these ecosystems to profit the most from the upcoming bull market.