Which narrative will perform better than Bitcoin in 2024?

Overview of Narratives in 2024 & Attention for 2025

Narrative performs best and worst in 2024

The 2024 crypto market is a launching pad for AI-related applications, so AI x Crypto projects became the group of projects with the highest total return performance in 2024 with 2.940%.

The second best performing project group was Memecoin with 2.185%. The influence of the community and the ability to quickly create a “trend” continue to be a key factor in helping Memecoin maintain its position in the crypto market.

Notably, although Narrative has the second best performance in the entire market, Memecoin is the only project group to maintain a 1,000% return for most of 2024. This narrative soon exploded from the end of February 2024 and continued to grow until the end of the year. In terms of ATH profitability, Memecoin leads with 3,200%.

AI and RWA are the top narratives, but it is necessary to wait for BTC's rise in early November 2024 to really grow. Currently, RWA has shown signs of slowing down while AI is still growing strongly.

On the other hand, gaming and layer 2 are the worst performing narratives in 2024. New L2 tokens appear in abundance but also do not have significant performance.

The average return of L2 tokens in 2024 is -20.7%, of which 2 ARB tokens are -56.37% and OP of -52.85% are quite significant decreases despite the top L2 projects.

The returns of the narratives are as follows:

*Coingecko's calculation method is to average the prices of the 10 tokens with the largest capitalization in a narrative.

According to other calculations from Dexu AI, memenoin is the dominant trend with an impressive growth of up to 699%. In second place are “Sweat-pot” projects (those with a solid foundation) led by SUI. This was followed by DEX with its typical representative Aerodrome and CEX with BGB, both of which recorded remarkable performance.

Most Noticed Topics

According to CoinGecko, memenoin, AI and RWA were the three narratives that received the highest user attention measured through traffic to CoinGecko with 14.36%, 12.58% and 8.64%, respectively.

Looking back at data from 2023, AI projects held the top spot for two years in a row, while gaming projects dropped from 2nd to 6th place. Memecoin at the time of last year also held the 3rd position with 8.32%.

According to data from Dexu AI, in the last 90 days L1 projects were the most talked about narrative on X (Twitter), followed by Memecoin, Sweat-pot (projects with a good foundation), and AI Agent, AI.

As such, the narratives investors need to pay attention to in 2025 will still be AI, RWA and memento. In addition, Blockchain L1, DePin and DeFi narratives can also return at any time.

Best performing assets 2024

In terms of asset performance, in 2024 there will be 8 asset classes with a capitalization greater than $10 billion that outperform BTC. In particular, SUI is the best growing L1 blockchain representative with an increase of 444%. Tokens of L1 blockchains also make up the majority of the list with names such as HBAR, XLM, TON, TRX, BNB...

This shows that from a less risky investment perspective (high capitalization), the L1 blockchains are still the safest and most efficient project group with no less high-performing assets than BTC, the memenoin also has a representative contribution, DOGE.

With a higher risk group (capitalization from $500 million to $10 billion), the memoins immediately occupied the spotlight with a series of strong growth projects in 2024 such as PEPE, POPCAT, WIF, MOG...

If the L1 blockchain is a high capitalization safe investment narrative, memenoin is a narrative that brings huge returns at the average capitalization level. In addition, the ranking shows the return of many DeFi projects with an increase of more than 200% such as AERO, PENDLE, RAY, AAVE...