The first half of 2024 is about to end in the correction and consolidation of the crypto market. In this cycle, BTC has risen rapidly due to the influence of ETFs, and the performance of Altcoin is relatively average. A large number of retail investors who miss the pump on BTC often complain about "no sense of participation."
As the market continues to pull back and consolidate, especially as a large number of Altcoin have almost lost their gains over the past six months, new opportunities may be quietly brewing.
At the initial stage of this cycle, the three core driving forces of ETFs, BTC halving, and interest rate cuts have been deeply rooted in people's minds.
With the implementation of the first two core driving forces, it is difficult for them to become the fuel to ignite the market in the future.
Therefore, the hype surrounding the expectation of rate cuts and the improvement in liquidity brought about by rate cuts will be the biggest external driving force for the subsequent outbreak of the crypto market.
Perhaps waiting for the release of each core data to earn profits from short-term fluctuations is not the main way to make profits. Therefore, we just need to make it clear that in a longer time span, the market still has the benefit of interest rate cuts to look forward to. This is enough to show that the bull market is most likely not over yet, and pullbacks and consolidations mean the birth of opportunities.
What opportunities are worth looking forward to and choosing? Has the bull market in the first half of the year laid the foundation for those new and abundant opportunities?
The wealth-making myths of Memecoins such as DOGE and SHIB have been enduring in the industry, and are also an opportunity for a large number of users to choose to enter Crypto.
Memecoin's position in this cycle has been further highlighted. It has gradually developed into one of the core tracks of Crypto in terms of asset market value and trading volume .
The total market value of Meme's assets has exceeded 50 billion US dollars, with a trading volume of more than 4 billion US dollars.
We can also find from the ranking of Memecoin that the Memes after DOGE and SHIB are all rising stars in this cycle, which further proves the excellent performance of Memecoin in this cycle.
In terms of the return rate of this track, it has surpassed all other competitors, far exceeding the popular narratives of RWA, AI, and DePIN, becoming the star of this bull market.
The targets that need attention are different and outstanding, including the legendary WIF that was launched on Binance in three days, Musk's favorite pepe, and BOME that takes the fast lane. They are all good choices.
A detailed analysis of the leaders of these meme tracks
PEPE
PEPE is one of the most outstanding Memecoins in this cycle, and its price performance in this round is extremely strong.
As for the symbol of PEPE itself, as a meme widely circulated on major social media, it has a very high recognition.
From the perspectives of both market-pulling consensus and cultural consensus, $PEPE is the undisputed first choice for Memecoin investment.
In addition, PEPE's current market value is about 5.3 billion US dollars, and the market value level of $DOGE or $SHIB at its peak has certain odds and market acceptance.
WIF
As one of Solana’s most representative Memecoins, WIF has also achieved outstanding performance in this cycle.
The image of wearing a hat has been deeply rooted in people’s minds, and various other Memecoins with images of wearing hats have been derived.
WIF's strong rebound after a decline has also made it a top buy the dips for many investors.
BOME
BOME is also a representative asset of this cycle. It broke the record on Binance and exceeded 1 billion US dollars in market value in 3 days, starting a new trend of pre-sale payment and occupying an important position in the hearts of investors.
BOME still belongs to the PEPE culture, and its current market value is about one-tenth of $PEPE. Although it reached its peak upon debut, it has not started a secondary market, so $BOME has certain explosive potential.
The popularity of ChatGPT has completely ignited the entire AI industry, and the impact of AI on humans has been elevated to the level of the "Fourth Industrial Revolution." The popularity of AI is directly and profoundly affecting the crypto industry through the two core logics of digital economy and hardware demand.
As the penetration rate of AI in people's daily work and life continues to increase, the issue of computing power continues to become more prominent, and the market continues to increase pricing for computing power companies such as NVIDIA.
Computing power equipment is also the core pillar of the encryption industry. Before the popularity of AI, the encryption industry's demand for computing power once led to NVIDIA's rapid development period.
With the development of the encryption industry, computing power began to become excessive, and AI gradually became the demander of this idle computing power.
Crypto x AI's projects have penetrated into every aspect of AI. The following will analyze the targets worthy of attention from various aspects.
Arweave/AO
As an old storage project, Arweave has firmly established itself as a leading player in the storage field with its excellent ecosystem and storage cost-effectiveness.
With the launch of the computing platform AO by Arweave, Arweave officially entered the distributed computing market and officially became a computing power concept token.
Compared with other computing power projects, AO can naturally take advantage of Arweave's ready-made storage advantages to achieve a high degree of coordination between the computing layer and the storage layer, which is crucial for computing large models on the chain.
In addition, AO has made radical designs in parallel computing and message passing, which brings AO stronger performance than other distributed computing projects. Therefore, AO actually has a natural advantage in terms of computing power.
The launch of the AO platform and related public relations activities (PR) have jointly driven up the price of AR, which is enough to show the market's recognition of AO.
With the continuous development of Crypto x AI, AR/AO will become one of the most promising AI tokens.
io.net
io.net, which was recently launched on Binance, is the hottest newcomer in the current track. io.net is a decentralized GPU network designed to provide huge computing power for machine learning applications.
Their vision is to unlock fair access to computing power by assembling over a million GPUs from independent data centers, crypto miners, and projects like Filecoin, making computing more scalable, accessible, and efficient.
io.net offers a completely different approach to cloud computing, leveraging a distributed and decentralized model to provide users with more control and flexibility over computing power, with services that are permissionless and low-cost.
Artificial Superintelligence Alliance(ASI)
ASI is a merger of three Crypto x AI projects, Ocean Protocol ($OCEAN), SingularityNET ($AGIX), and Fetch.ai ($FET), which have been deeply involved in related fields for many years.
After the merger of the three projects, a team called Superintelligence Collective will be established. The CEO will be SingularityNET founder Ben Goertzel. The three projects will still operate as independent entities, but will work closely in the operation of the shared $ASI token ecosystem and Superintelligence Collective.
In the merger announcement issued by the three teams, not much was introduced about the new business to be carried out after the merger.
According to Ben Goertzel on his social platform, after the merger, future work will revolve around AGI (general artificial intelligence) and ASI (super artificial intelligence), which is why the name of the merged token is ASI.
During market consolidation and correction, we should not be dominated by panic. It is more worthwhile to think about the opportunities behind the decline.
