Price Analysis

AI & ML, DeFi, or Computing: Which Altcoin Industry Will Dominate the Cryptospace in 2024?

The crypto markets have evolved ever since their inception with new projects that have come up with different use cases. DeFis thrived in 2020, NFTs in 2021, and a recent addition was the AI tokens, which have displayed their strength very frequently. Now that the markets are approaching the end of the consolidation phase, it’s time to determine which bunch of altcoins will dominate the crypto markets.

Bitcoin dominance has maintained a significant upswing in recent times, marking highs above 53%. However, this was followed by a minor pullback, due to which the BTC price also faced a small pullback. This was when some of the altcoins emerged as the top performers for the day, while the top altcoins traded within a narrow range. 

Therefore, the recent move has brought the altcoin market cap to some crucial levels and a monthly close above these levels may trigger a strong altseason.

Regardless of the huge price variation, the altcoin market cap has held a crucial threshold of around $675 billion ever since the first week of December. With a slight rise in value, the market cap may close above the interim resistance of around $768.28 billion. This may enable the level to rise above $1 trillion and reach $1.25 trillion in the next 2-4 months.

Now when the altcoins are expected to grow stronger in the next couple of months, will DeFi dominate the markets or will the AI tokens regain their glory? Besides, NFTs are also gearing up to embrace themselves, while the popular altcoins are also strongly holding above the threshold. As per the data from Santiment, artificial intelligence, AI, and real-world assets, RWA, is attracting huge attention. 

These topics are being projected as the future of the crypto market drivers, based on their increased crowd interest over the past 6 months. Therefore, the AI assets, including the Graph Token (GRT), Fetch.ai (FET), SingularityNET (AGIX), Ocean Protocol (OCEAN), and Bittensor (TAO) need to be closely watched. Meanwhile, RWA tokens to consider are Avalanche (AVAX), Chainlink (LINK), Internet Protocol (ICP), Maker (MKR), and Synthetix (SNX).

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