AI, perpetual contracts, and trading bots are three major cryptocurrency narratives to watch this week. AI-focused tokens like TAO and FET are up 61% and 71%, while VIRTUAL has reached a market cap of $3.3 billion, making it the second-largest AI token.

Perpetual contracts are also gaining momentum, with Hyperliquid driving $98 billion in weekly DEX volume and its token HYPE making it into the top 20 cryptocurrencies. Meanwhile, trading bots like Trojan, Banana, and Bonkbot are recording hundreds of millions in weekly volume, positioning tokens like BANANA and BONK for additional gains if the trend continues.

artificial intelligence

Artificial intelligence has emerged as one of the most prominent narratives in cryptocurrencies throughout 2024, with several AI-focused tokens making significant price gains and market milestones. Tokens like TAO and FET saw impressive increases of 61% and 71%, respectively, demonstrating strong investor interest.

Additionally, VIRTUAL has reached a market cap of $3.3 billion, establishing itself as the largest AI-focused coin after RENDER. These developments highlight how AI-driven projects are capturing a significant share of market interest and investment, cementing their role in the broader crypto ecosystem.

Looking ahead, the rise of AI agents in cryptocurrencies raises expectations for further growth for projects aligned with this trend. Coins like VIRTUAL, ai16z, and ZEREBRO stand out as potential beneficiaries in the coming weeks as they position themselves to capitalize on the growing narrative not only around AI but also on AI agents in cryptocurrencies.

Permanent contracts

The past few weeks have been great for perpetual contracts, driven in large part by the explosive growth of Hyperliquid. Weekly perpetual contract trading volume on DEXs soared to $98 billion on December 23, highlighting the growing buzz around narratives like perpetual contracts.

Hyperliquid alone contributed significantly to this surge, reaching an all-time high of $51 billion in trading volume during the week of December 9-16, further cementing its dominance in the sector.

Other major players, such as DYDX, Drift, and Injective, continue to maintain their importance in the perpetual contracts market.

After its distribution, Hyperliquid's native token, HYPE, quickly achieved a market cap of $9 billion, propelling it into the ranks of the top 20 cryptocurrencies.

Trading Robots

The narrative surrounding trading bots gained significant momentum in 2024, especially those integrated with Telegram. These bots reached an all-time high of $482 million in daily trading volume on November 20.

Platforms like Trojan, Banana, Photon, Maestro, and Bonkbot have grown rapidly in popularity, collectively generating hundreds of millions in weekly trading volume.

Much of this volume was fueled by Pumpfun, with the vast majority of these bots primarily generating revenue from Solana trading. If this trend continues, tokens like BANANA and BONK could benefit significantly.

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