- AI and DeSci saw a 116% and 2640% increase in mindshare from January to December 2024.
- Layer 2 (L2) and GameFi narratives saw a 58.7% and 41.3% drop in mindshare during 2024.
- Stablecoins grew by 93% in mindshare, reflecting increased DEX and lending activity.
The crypto narrative landscape has significantly changed, marked by shifts in mindshare among various sectors. The Kaito AI data shows a significant change from January to December 2024 as new technologies and concepts got a lot of mind-share attention, while some technologies that were considered popular started to decline.
AI and DeSci Lead the Pack
AI had the highest percentage increase, from 21.68% in January to 46.95% by December, equivalent to a 116.56% higher narrative mindshare. This increase raises public interest in artificial intelligence, where the use of AI-focused tokens and the general implementation of AI in blockchain and cryptocurrency applications has risen.
Similarly, DeSci (Decentralized Science) saw a staggering 2,640% increase. This jump, from 0.05% in January to 1.37% in December, points to increased attention given to how blockchain technology may be applied to scientific research. Despite being a relatively new and specialized sector, DeSci is growing in popularity, with the BIO token recently being included as an exchange offering asset and Vigilik Buterin’s backing.
Declines in Legacy Narratives
As AI and DeSci ascended, some of these older narratives have notably declined in popularity. The Layer 2 (L2) narrative was reduced by 58.72%, from 7.8% to 3.22, which means that despite the potential of L2 scaling solutions like Ethereum, their adoption has been minimal.
Similarly, ETF-related discussions decline by 63.10% from 10.08% in January to 3.72% in December. This could mean that the first hype over crypto ETFs may be fading, with most of the buzz drifting to other exciting or trending sectors.
Account abstraction, expected to solve complex user interfaces for Web 3.0, reduced by 71.93%, from 0.57% in January to 0.16% in December. Others, like BRC20 tokens and GameFi, also posted a drop, with BRC20 tokens contracting by 77.29% and GameFi contracting by 41.31%.
A Recap On What Happened in The Crypto Market Over 2024Increased awareness towards AI and DeSci suggests that the crypto market is moving towards sectors focused on real-world problem-solving. AI’s advancement may lead to more blockchain initiatives integrating AI for contract management and DeFi, while DeSci may create new sources for financing scientific research but may face issues of trust and regulations.
On the other hand, the decline of L2, GameFi, and account abstraction suggests that these strategies are losing traction, offering room for newer and more effective innovations in the blockchain.
