Bitcoin is currently hovering around $97.6k, just a step away from $100k. However, except for Memecoins, most altcoins are in a downward trend. As an altcoin holder, are you ready to face the upcoming challenges? Here is the performance analysis of the top ten tokens in various narratives by market capitalization:
✜ Artificial Intelligence (AI)
AI was once highly anticipated to become a key driver of the bull market, but its performance has been disappointing:
- $FET and $LPT have declined by over 54%.
- Relatively better-performing $TAO and $AIOZ have only dropped about 24-25%.
- Overall, AI blue-chip coins have averaged a decline of about 40% since Bitcoin's last ATH.
✜ Decentralized Internet of Things (DePIN)
AI and DePIN are considered a natural pairing, especially after the successful launch of $GRASS.
- $AR has plummeted by about 60%, disappointing investors.
- $HNT has performed relatively stably, with only about a 15% decline.
- The top ten projects by market capitalization in DePIN have averaged a decline of 41.79%.
✜ Tokenization of Real-World Assets (RWA)
RWA carries the expectation of bringing in millions of users and creating real value, but its performance in 2023 has been lackluster:
- $OM has weakened after a round of growth.
- $ONDO has seen a slight increase.
The RWA sector is still in its early development stage, and holders can appropriately DCA while patiently waiting for future performance.
✜ Gaming
Although the gaming sector has attracted many Web2 users, it has struggled to compete with the narratives and gameplay of traditional gaming giants:
- $IMX, $GALA, $SAND, $ENJ have all seen declines exceeding 50%.
- The average market value of the top ten gaming tokens has dropped by 54%.
✜ Layer 1
As the cornerstone of DeFi, Layer 1 is the core of the crypto ecosystem:
- $SOL has reached new heights thanks to the Memecoin craze, attracting massive investments.
- $SUI is expected to follow in the footsteps of $SOL.
- The worst performer $DOT has seen a decline of 41%, disappointing its holders.
✜ Layer 2
Although L2 has received much attention, technical innovation remains scarce, and market performance is divergent:
- $MNT has performed strongly, with only a 14.34% decline, considered an undervalued project.
- $AEVO and $STRK have underperformed, with declines exceeding 80%.
- $ARB and $OP are worth paying attention to and may consider DCA strategies.
✜ LSD and Yield Farming
The heat of LSD and yield farming is gradually declining, but a few projects maintain vitality through continuous updates. Interested investors can keep an eye on them and choose carefully.
✜ Meme Coins
Meme coins are the stars of this bull market:
- $PEPE remains the top choice.
- $PNUT and $GOAT quickly landed on Binance, with a market cap approaching $1b, becoming the dark horse projects of the year.
Personal opinions and strategies
As Bitcoin enters a new price discovery phase, there are still opportunities to acquire potential tokens through DCA strategies. Here are the key tips:
1. Bitcoin is consolidating + BTC.D is declining ➜ Altcoin season is coming.
2. Every drop is a golden opportunity to accumulate more and prepare for a true bull market.
3. Use leverage cautiously, trade rationally, and avoid missing good opportunities due to impulse.
Conclusion:
Bitcoin's sprint to $100k has injected new momentum into the market. Although most altcoins are temporarily down, the bull market cycle is not over yet. By understanding the performance of different narratives and the flow of funds, investors still have opportunities to seize life-changing wealth in the next 5-9 months. Take steady steps and do not miss this historic opportunity!
