2024 Crypto Assets Market Narrative Theme Performance Analysis

In 2024, the performance of various narrative themes in the Crypto Assets market showed significant differences, with a return range spanning from -20.7% to +2,939.8%. This study analyzes the performance of the main narrative themes in the Crypto Assets market from January 1 to December 29, 2024, based on market data from a certain data platform.

AI and Meme coins lead the market

The most outstanding Crypto Assets narrative theme in 2024 is the AI sector, with an average increase of 2,939.8% YTD from the beginning of the year to now (. Following closely is the Meme coin sector, with a year-to-date return of 2,185.1%. The returns of these two major sectors far exceed those of other popular narrative themes by more than twice.

The Meme coin sector started to significantly lead in March, with a monthly return soaring from 96.6% to 1,713.1%. Despite the extreme volatility, Meme coins maintained the highest returns for most of 2024. However, after reaching an all-time high return of 3,211.4% on December 9, the sector experienced a correction as market interest waned.

In contrast, the AI sector experienced a strong rebound at the end of the year, with the return in December nearly doubling from 1,598.1% to 2,939.8%. This was mainly due to the explosive growth of an AI agency platform project, which also became the token with the largest increase in the crypto assets market this year. Ultimately, the AI sector surpassed Meme coins at the end of December to become the annual return champion.

The Real World Assets ) RWA ( sector ranks third with an annual average return of 819.5%. This sector performed steadily at the beginning of the year, reaching a return of 365.3% by April 12, and then consolidated sideways over the next six months. In November, driven by the price increase of a certain coin, the RWA sector resumed its upward trend.

![Crypto Assets narrative annual performance: AI and Meme surged over 20 times, L2 dropped 20.7% at the bottom])https://img-cdn.gateio.im/webp-social/moments-f32c6326dc039d87a74026253448307f.webp(

Layer 1, DePIN and DeFi sectors performed mediocre

Layer 1, decentralized physical infrastructure ) DePIN ( and decentralized finance ) DeFi ( sectors performed similarly in 2024, recording returns of 142.5%, 135.4%, and 101.4% respectively. This means that Layer 1 and DePIN slightly outperformed Bitcoin's increase of 125.5% during the same period, while the DeFi sector's performance was even below that of Bitcoin.

In other words, conservative investors who only hold Bitcoin can achieve returns comparable to at least three major narrative themes.

The performance of the gaming and Layer 2 sectors is poor.

GameFi and Layer 2 have become the worst-performing sectors in 2024, even worse than Ethereum's 49.0% increase. Specifically, the GameFi sector has only risen by 14.7% this year, with six of the top ten gaming tokens experiencing declines ranging from 3.1% to 32.9%.

Layer 2 is the only sector that recorded negative returns this year, down 20.7%. Amid the trend of projects seeking to launch their own Layer 2 solutions, seven of the top ten Layer 2 tokens saw a price decline, with drops ranging from 6.3% to 75.3%.

![Crypto Assets narrative annual performance: AI and Meme surged over 20 times, L2 dropped 20.7% at the bottom])https://img-cdn.gateio.im/webp-social/moments-7f10d54608398d4d8993b59e3bdc8ee2.webp(

2024 Crypto Assets Narrative Performance Ranking

Ranking of the average annual price return rates of the top 10 tokens by narrative theme:

1. AI: 2,939.8%
2. Meme: 2,185.1%
3. RWA: 819.5%
4. Layer 1: 142.5%
5. DePIN: 135.4%
6. DeFi: 101.4%
7. Bitcoin: 125.5%
8. Ethereum: 49.0%
9. GameFi: 14.7%
10. Layer 2: -20.7%

![Crypto Assets narrative annual performance: AI and Meme surged over 20 times, L2 dropped by 20.7% at the bottom])https://img-cdn.gateio.im/webp-social/moments-e54073507ba641fcac4a3ba2ccfdb3f9.webp(

This year, the explosive growth of AI and Meme coins has been remarkable, while traditional Layer 1 and DeFi sectors have performed mediocrely. The weak performance of GameFi and Layer 2 sectors also reflects the market's cautious attitude towards these areas. Overall, the crypto assets market in 2024 shows a clear sector rotation characteristic, and investors need to closely monitor the development trends of various narrative themes.