Connect with us

Market

Meme Coins Set for Comeback as AI Tokens Lose Momentum

Published

on


The crypto market may be due for another narrative shift as meme coins prepare for a potential resurgence, while AI agent tokens continue to see declining interest.

AI agents took the stage in late 2024, sidestepping meme coins as analysts shifted their gaze to altcoins with real-world value rather than speculative assets.

AI Tokens Decline, Meme Coins Poised for Resurgence

Recent data from Dune reveals that only 6-7 AI agent tokens are being created daily on Virtual, a staggering 99.5% drop from their peak in December last year. The sharp decline reflects waning enthusiasm for AI agent tokens, even as the broader AI narrative remains a dominant theme in the market.

AI Agent Token Creation on Virtuals
AI Agent Token Creation on Virtuals. Source: Dune Dashboard

Despite this downturn, some analysts remain optimistic about the long-term potential of AI-powered crypto projects. As BeInCrypto reported, new AI agent launches show mixed signals, with some sectors seeing renewed activity.

Specifically, some, such as VIRTUAL, AI16Z, and AIXBT, have experienced gains in the last seven days. Meanwhile, others are still in a downtrend, like FAI, down 28%, and TRAC, down 19%.

Amidst these mixed signals, data on Cookie.fun shows the total market cap of crypto AI agent coins has dropped to $6.95 billion. None of the AI agent tokens has surpassed $1 billion individually on market cap metrics.

AI Agent Tokens Performance
AI Agent Tokens Performance. Source: Cookie.fun

Industry experts have also highlighted how AI agents are poised to transform the workplace, further cementing artificial intelligence’s role in the digital economy. However, the recent slump in AI token creation suggests immediate market demand has cooled.

Meanwhile, the meme coin sector is experiencing its upheaval. Solana-based token launchpad Pump.fun, has been removed from the top 10 highest revenue-generating protocols in the last 24 hours.

“Pump.fun gets kicked out of the top 10 highest revenue-generating protocols in the last 24 hours as the number of bonded meme coins is plummeting to zero,” SOL ecosysten commentary The Solana Post noted.

Yet, meme coins might not remain in the shadows for long. AI mindshare, which hit over 70% last month, has since dropped to 32%, indicating a shift in market focus.

Why Meme Coins May Be Primed For Recovery

With the US SEC (Securities and Exchange Commission) recently announcing that meme coins are not classified as securities, industry participants anticipate a revival in the sector’s trading activity.

“SEC just officially ruled meme coins are not securities. This is about to bring massive on-chain volume. The trenches are about to get wild,” wrote Lynk, a popular user on X.

According to the user, Solana (SOL) could benefit from the prospective meme coin comeback. This assumption is based on the sector’s heft of Solana-based meme coins. The logic is that if meme coins stage recovery, traders and speculators would pour liquidity into the ecosystem, buying SOL to participate in launches on Pump.fun. This would potentially increase SOL’s demand and, in turn, its price.

Meanwhile, the SEC’s stance on meme coins represents a significant development for the sector. As BeInCrypto highlighted, the ruling removes a key regulatory uncertainty that has weighed on speculative tokens. The move is expected to encourage a fresh wave of meme coin projects and speculative trading, potentially bringing back the fervor seen in previous cycles.

Furthermore, the dYdX Foundation CEO Charles D’Haussy commented on the future of meme coins under Donald Trump. He acknowledged their impact on the crypto market and the broader financial ecosystem.

“I think they [meme coins] are a very good tool for people to show their interest, to show their support. I can imagine that in the future, people will buy meme coins, and they will not be called meme coins anymore,” D’Haussy told BeInCrypto.

As Bitcoin teases with a bear cycle, the divergence between AI agents and meme coins highlights shifting investor sentiment. While AI agents still command significant mindshare, their market dominance has weakened, potentially allowing meme coins to reclaim the spotlight.

The regulatory clarity provided by the SEC could catalyze increased meme coin activity. For now, however, the crypto market remains in flux.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market

XRP Bulls Defend $2.00—Is a Fresh Price Surge Loading?

Published

on


Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



Source link

Continue Reading

Market

Vitalik Buterin Proposes to Replace EVM with RISC-V

Published

on


Ethereum (ETH) co-founder Vitalik Buterin has proposed overhauling the blockchain’s smart contract infrastructure by replacing the Ethereum Virtual Machine (EVM) with RISC-V, a widely adopted open-source instruction set architecture.

This shift aims to address one of Ethereum’s key scaling bottlenecks by dramatically improving the efficiency and simplicity of smart contract execution.

Buterin Proposes Ditching EVM for RISC-V

The proposal was detailed in a post on the Ethereum Magicians forum. In it, Buterin suggested that smart contracts could eventually be compiled to RISC-V rather than EVM bytecode. 

According to Buterin, this shift addresses long-term scalability challenges. This particularly includes keeping block production competitive and improving zero-knowledge (ZK) EVM-proof efficiency. 

“It aims to greatly improve the efficiency of the Ethereum execution layer, resolving one of the primary scaling bottlenecks, and can also greatly improve the execution layer’s simplicity – in fact, it is perhaps the only way to do so,” he wrote.

Current ZK-EVM implementations spend around half of their proving cycles on EVM execution. By switching to a native RISC-V VM, Ethereum could potentially achieve up to 100x efficiency gains.

Importantly, many fundamental aspects of Ethereum’s architecture would remain unchanged, preserving continuity for developers and users. Core abstractions such as accounts, smart contract storage, ETH balances, and cross-contract calls would function exactly as they do today. 

Developers would still write contracts in familiar languages like Solidity or Vyper. These would simply be compiled to RISC-V rather than EVM bytecode. Tooling and workflows would remain largely intact, ensuring a smooth transition. 

Crucially, the proposal ensures backward compatibility. Existing EVM contracts will remain fully operational and interoperable with new RISC-V contracts.

Buterin outlines several potential implementation paths forward. The first would support both EVM and RISC-V smart contracts natively. The second suggests wrapping EVM contracts to run via an interpreter written in RISC-V. Thus, it would enable a full transition without breaking compatibility.  

The third, more modular approach, builds on the second by formally enshrining interpreters as part of the Ethereum protocol. This would allow the EVM and the future virtual machines to be supported in a standardized way. 

Buterin stated that the idea is “equally as ambitious as the beam chain effort.” 

“The beam chain effort holds great promise for greatly simplifying the consensus layer of Ethereum. But for the execution layer to see similar gains, this kind of radical change may be the only viable path,” Buterin added.

For context, the Ethereum Beam Chain is a redesign of Ethereum’s consensus layer (Beacon Chain). It focuses on faster block times, faster finality, chain snarkification, and quantum resistance. The development will likely begin in 2026.

This proposal fits into Ethereum’s broader vision of modularity, simplicity, and long-term scalability. Previously, BeInCrypto reported on Buterin’s privacy-centric plans for the blockchain. 

The proposal focused on integrating privacy-preserving technologies. Moreover, the Pectra upgrade is also nearing, with the launch expected on May 7.

Meanwhile, ETH continues to face market headwinds, trading at March 2023 lows. This year has been quite hard for the altcoin, as it saw a decline of 50.8%. In fact, Ethereum dominance hit a 5-year low last week.

Ethereum Price Performance
Ethereum Price Performance. Source: BeInCrypto

Nonetheless, BeInCrypto data showed a slight recovery over the last 14 days. ETH rose by 6.1%. Over the past day alone, it saw modest gains of 1.7%. At the time of writing, ETH was trading at $1,639.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

Solana Rallies Past Bitcoin—Momentum Tilts In Favor of SOL

Published

on


Solana started a fresh increase from the $120 support zone. SOL price is now consolidating and might climb further above the $142 resistance zone.

  • SOL price started a fresh increase above the $125 and $132 levels against the US Dollar.
  • The price is now trading above $130 and the 100-hourly simple moving average.
  • There is a connecting bullish trend line forming with support at $137 on the hourly chart of the SOL/USD pair (data source from Kraken).
  • The pair could start a fresh increase if it clears the $142 resistance zone.

Solana Price Gains Over 5%

Solana price formed a base above the $120 support and started a fresh increase, like Bitcoin and Ethereum. SOL gained pace for a move above the $125 and $132 resistance levels.

The pair even spiked toward the $145 resistance zone. A high was formed at $143.06 and the price is now retreating lower. There was a move below the 23.6% Fib retracement level of the upward move from the $135 swing low to the $143 high.

Solana is now trading above $130 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $137 on the hourly chart of the SOL/USD pair. The trend line is close to the 76.4% Fib retracement level of the upward move from the $135 swing low to the $143 high.

Solana Price

On the upside, the price is facing resistance near the $142 level. The next major resistance is near the $145 level. The main resistance could be $150. A successful close above the $150 resistance zone could set the pace for another steady increase. The next key resistance is $155. Any more gains might send the price toward the $165 level.

Pullback in SOL?

If SOL fails to rise above the $142 resistance, it could start another decline. Initial support on the downside is near the $138.50 zone. The first major support is near the $137 level and the trend line.

A break below the $137 level might send the price toward the $132 zone. If there is a close below the $132 support, the price could decline toward the $125 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $137 and $132.

Major Resistance Levels – $142 and $145.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io