Each round of bull market is accompanied by the outbreak of the main narrative, which drives the market heat. The last round of bull market was led by the outbreak of Defi of major public chains.
1. AI sector
There is no doubt that AI has set off a wave of rising sectors in this round. At the same time, the AI wave in the external global market has created the strength of this sector. This round of AI must be a main narrative sector. The characteristics of this sector's currency are that the rise is sustained, funds are pouring in actively, and each decline and rebound performance is relatively good. This is also one of the key points that need to be paid attention to in the future.
Google will also hold a developer conference on May 14, and AI will be the focus of this conference, so this is the second positive news for the AI sector this month. Nvidia's financial report will be released on May 22, and the market expects a year-on-year growth of 400%. Nvidia's stock price has also started to soar recently, taking various AI projects with it.
2、MEME
The meme sector adheres to the characteristics of fair launch and full circulation without unlocking. The meme model is fairer, so this round of performance is extremely eye-catching. The fully circulated meme coins give the dealers the ability to buy and accumulate with real money if they want to control the market. At the same time, the subsequent pull-up will be more intense than other coins, and retail investors are more willing to follow the purchase, making the liquidity extremely good and providing more convenient conditions for the final shipment. Therefore, this situation is what everyone wants to see. This is also one of the main narratives of this round.
3. Sol Ecosystem
The transaction and issuance of sol are extremely smooth and the cost is relatively low. In particular, the price of sol was seriously underestimated in the last round of bear market due to FTX reasons, and there are still investment institutions from Wall Street in the United States standing behind it. In other words, in order to clamp down on the monopoly of Ethereum, this round, with the help of issuing meme coins, it has become one of the top 3 in the cryptocurrency ecosystem. However, the overall ecological valuation is actually low, which also means that there is greater room for development in the future, which is worthy of attention!
The above are the three main narratives, which will continue throughout the bull market. The main narrative is that the stock is the leader when the market is good and relatively resistant to declines when the market is bad. The upward trend of the big cycle is obviously higher than the previous one, with obvious highs and lows. At the same time, after the market adjusts, the leading stock that starts again generally rebounds the most violently.
About to soar: 4 altcoins that could bring 100x profits in a bull run!
DONE
FET stands out in the AI crypto space with its decentralized data and machine learning model marketplace. By providing developers with access to cutting-edge AI tools, Fetch.ai promotes innovative application development within the crypto ecosystem. Its native token FET powers transactions for data and AI services on the platform.
While Fetch.ai is primarily aimed at developers and advanced users, its contributions to AI infrastructure benefit all participants in the cryptocurrency space. The project fosters innovation and paves the way for a more intelligent and resilient cryptocurrency future.
Currently trading at $2.20, Fetch.ai has grown by 14.32% over the past week, bringing its market cap to $1,872,297,197 and solidifying its position as the world’s 53rd largest cryptocurrency. Over the past year, Fetch.ai has achieved a staggering 711% growth, outperforming leaders such as Bitcoin, Ethereum, and XRP by 2024.
This one
Ethena (ENA) is focused on AI-driven synthetic asset creation, ushering in a new era of cryptocurrency. The platform enables users to tokenize real-world assets, including stocks, commodities, and derivatives, bringing endless possibilities to investors.
Ethena’s secret sauce lies in its AI technology, which manages risk and price discovery for these synthetic assets, creating a more stable trading environment. This is especially beneficial for experienced investors looking for risk management and specific market opportunities.
ENA is trading at $0.89, up 14.44% over the past week, with a market cap of $1,356,214,328, ranking 63rd in the world. Since its launch in April 2024, ENA has grown by 29% overall, highlighting its long-term potential.
VEIL
Velo Labs leads the market with its innovative joint credit exchange network, which is based on the Velo protocol and promotes the issuance of digital credit and barrier-free asset transfer through a smart contract system. It uses the Stellar Consensus Protocol to achieve fast and secure transactions, supporting a wide range of business applications, especially the issuance of collateral-backed digital credit pegged to any fiat currency, thereby improving the transparency and efficiency of value exchange.
Currently, the VELO token has a market value of approximately $186.7 million. Although it ranks 290th in the cryptocurrency market, its increase of more than 300% in the past six weeks has attracted market attention. From its historical high of $2.07 to the current $0.0251, VELO has shown great potential for growth. If the market continues to be optimistic, VELO is expected to achieve more than tenfold growth in 2024.
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