Kaito data reveals a dramatic reshaping of crypto narrative mindshare in 2024, with decentralized science (DeSci) and artificial intelligence (AI) leading the charge.
While some trends like DeFi and memecoins showed resilience, others, including layer routing technologies (LRTs) and DePIN, experienced a steep decline.
Breakthrough Narratives
DeSci saw an astounding 2,640% increase in mindshare, marking a breakthrough year for blockchain’s application in scientific research. While DeSci is still far from dominating Web3 discussions, its growth signifies a pivotal moment for the space.
AI narratives also continued their impressive trajectory, growing by 116%, even with an already high baseline of interest. Similarly, trusted execution environments (TEE) and chain abstraction gained traction, with respective increases of 192% and 160%.
Established Leaders Stay Strong
Despite the rise of new narratives, DeFi and memecoins remained strong, demonstrating their enduring relevance in the crypto ecosystem. These sectors sustained their high levels of awareness from the start of the year and continued to attract attention.
We can finally unveil the biggest mindshare growers of 2024 👀
It’s still far for DeSci to dominate the Web3 mindshare, but the increase in interest over the last year can definitely be seen as a breakthrough moment 📈
It’s also worth noting how strong DeFi and memecoins… pic.twitter.com/E4XqsX5PaC
— MichaÅ‚ Moneta (@michmoneta) January 2, 2025
Trailing and Disappointing Trends
On the flip side, older trends saw a significant decline. LRTs, a major focus in 2023 and early Q1 2024, dropped by 82%, while account abstraction and BRC-20 tokens decreased by 71% and 77%, respectively. Surprisingly, decentralized physical infrastructure networks (DePIN) underperformed, failing to meet expectations. Meanwhile, GameFi, ETFs, and Layer 2 solutions also saw reduced interest, with declines of 41%, 63%, and 58%.
According to Kaito data, compared with the beginning of 2024, the narrative mindshare of AI concepts increased by 116%, DeSci increased by 2640%, TEE increased by 192%, and chain abstraction increased by 160% at the end of 2024; LRT decreased by 82%, account abstraction decreased… pic.twitter.com/aY2rGA5JTa
— Wu Blockchain (@WuBlockchain) January 1, 2025
As 2024 comes to a close, it’s evident that the crypto industry is undergoing a shift. Emerging narratives like DeSci and AI are defining the future, while older trends continue to fade into the background.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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