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Top 5 Crypto Trends to Watch in 2024

by Sandip Das from
Top 5 Crypto Trends to Watch in 2024

Crypto is a dynamic world, and this post on top 5 crypto trends to watch in 2024 will update you on the latest crypto market developments. When Bitcoin was launched in 2009, no one expected cryptocurrencies to expand into a trillion-dollar asset class in such a short period. Over the last several years, we have observed a number of trends and themes dominating the crypto space. Some of those narratives or trends were the emergence of altcoins (any crypto other than Bitcoin is an altcoin), the ICO boom, DeFi, and NFTs.

After a soaring bull market in 2020-21, the crypto industry went through a severe bear market in 2022. In 2024, the crypto market has been showing consolidation with a positive bias. This indicates a potential bull market in 2024-25.

1. Top 5 cryptocurrency trends to watch in 2024

Now as 2024 is drawing to a close, we can observe some clear new trends in the crypto industry. As a crypto investor, knowing these trends is crucial as they are going to drive the next bull run. In this post, we are going to talk about:

  • Top 5 cryptocurrency trends to watch in 2024
  • Crypto market outlook 2024
  • Best crypto trends in 2024
  • Crypto trends and predictions for 2024
  • Next cryptos to explode
  • Trends to watch in blockchain technology

While there are a large number of emerging crypto trends, not all trends may sustain or drive crypto prices. Here are the 5 trends that are likely to shape crypto market dynamics in 2024:

1.1 Intermingling of artificial intelligence (AI) and blockchain

After the launch of ChatGPT in November 2022, AI has taken the business world by storm. We have observed increased applications of AI tools in almost all areas of business, finance, and the economy. When it comes to leveraging the AI trend, blockchain does not hang back. In fact, the intermingling of AI and blockchain can give the best of both worlds. For instance, the AI-based crypto platform Graph uses machine learning to index blockchain data to build a crypto search engine similar to Google, and you can find out more about AI tools for crypto trading in our related article.

If you want to make it big in the next crypto bull run, you must look out for innovative tokens in this space. The AI trend in crypto has long-term potential. AI-based blockchain platforms offer crypto’s privacy and security while imbibing AI’s automation capabilities.

Another reason AI is one of the top 5 cryptocurrency trends to watch is because of the increased mainstream applications of both artificial intelligence and blockchains. Here are some of the top AI-based crypto tokens to watch for in 2024:

  1. Bittensor (TAO)
  2. Render (RNDR)
  3. Fetch.AI (FET)
  4. Ocean Protocol (OCEAN)
  5. SingularityNET (AGIX)

1.2 GameFi

Currently, there are approximately 3.09 billion active video game users. By 2024, this number is expected to grow to 3.32 billion gamers. Video games or online games have been one of the coolest entertainment activities in the past three to four decades. Blockchain gives renewed energy to gaming platforms by making it easier for developers to create new games or players to exchange economic values.

Blockchain-based games allow you to interact with players around the world, exchange in-game assets, and create value. Crypto games’ wide popularity makes it one of the hottest trends to watch in the crypto space in 2024.

The soaring demand for crypto games has led to the development of numerous crypto tokens called GameFi tokens. These tokens are used as the native currencies in their respective gaming platforms. For example, you can use the crypto token Ronin (RON) to exchange in-game items with other users in the Ronin gaming ecosystem. Here are the top GameFi crypto coins to watch for in 2024:

  1. Axie Infinity (AXS)
  2. Gala (GALA)
  3. Illuvium (ILV)
  4. Ronin (RON)
  5. The Sandbox(SAND)

1.3 Layer 2 Solutions for scaling up crypto platforms

As crypto becomes more mainstream, there is a need for scaling them up to handle thousands of transactions every minute. Currently, Bitcoin can handle only 7 transactions per second (TPS) while Ethereum can handle about 20-30 transactions per second. Now, compare this with payment giant Visa’s maximum capability of processing 24,000 transactions in a second!

If the leading blockchain platforms of today want to handle mainstream business transactions, they have to increase their transaction processing capabilities by 100x or even 1,000x. One of the potential solutions for doing this is Layer 2 (L2) scaling. In layer 2, a new blockchain is introduced in parallel with the main blockchain (also called mainnet). L2 is one of the top crypto trends to watch in 2024 because of its potential to scale up crypto platforms to process thousands of transactions. Some of the leading L2 tokens to watch out for in 2024 are:

  1. Arbitrum (ARB)
  2. Immutable X (IMX)
  3. Optimism (OP)
  4. Polygon (MATIC)
  5. Mantle (MNT)

1.4 DeFi explosion

DeFi, short for Decentralized Finance, was a major driver behind the 2020-21 crypto bull run. We believe that was just the beginning of DeFi. Going forward, DeFi has huge potential because of its fast growth and a large number of use cases. DeFi applications can be used to conduct any of the traditional financial activities like banking, payment processing, lending, trading, or even insurance.

DeFi offers a number of advantages over traditional finance as DeFi is faster, more secure, and more private. Moreover, DeFi applications can be seamlessly used in a global environment. DeFi’s key strengths derive from its vast potential use cases, ease of use, and transparency. Therefore, DeFi is one of the hottest crypto trends to watch out for in 2024. As DeFi explodes, Ethereum (ETH) is likely to derive maximum benefits, as Ethereum is the top choice for most DeFi developers and users. Here are some other DeFi tokens that can explode in 2024:

  1. Chainlink (LINK)
  2. Avalanche (AVAX)
  3. Uniswap (UNI)
  4. Maker (MKR)
  5. Injective (INJ)

1.5 Metaverse & Web 3

Metaverse is a virtual space in which you can connect with other people, play games, shop, and even exchange digital assets. Blockchain is a leading driver behind the metaverse. Cryptocurrencies make it easier to exchange economic values on the metaverse.

Metaverse, along with Web3, constitutes a leading crypto trend for the next couple of years. Web3 is the decentralized version of the Internet powered by blockchain. In Web 3, users own their own content and other assets through a process called tokenization. Web3 offers much more value to users and developers compared to Web2 (the current version of the Internet). Web3 is more secure; offers greater privacy and transparency; and enables users to create and exchange value. Investing in top crypto tokens from the Web3 and metaverse themes can help you ride the trend in the next bull market. Here are the top crypto tokens related to Metaverse and Web3:

  1. Axie Infinity (AXS)
  2. Illuvium (ILV)
  3. Decentraland (NANA)
  4. Render (RNDR)
  5. Filecoin (FIL)

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2. More Cryptocurrency Trends to Watch in 2024

In addition to the 5 crypto trends to watch discussed above, there are some other crypto trends that will shape the 2024 crypto bull run and to know more about crypto market cycles, read our beginner’s guide on crypto bull and bear markets.

2.1 Bitcoin halving

Bitcoin halving is a much-anticipated event in which the block rewards for mining Bitcoins (if you want to know how Bitcoin mining works just click on the link) are halved around every 4 years. Bitcoin halving is an important event in the crypto space. Since Bitcoin (BTC) is the uncontested crypto market leader, any BTC-related development affects the entire crypto market.

Bitcoin halving takes place after every 210,000 BTC blocks. Given this rate, the next BTC halving event is likely to occur in April 2024. Historically it has been observed that a Bitcoin halving event triggers a crypto bull run. Therefore, while exploring the next big trends in the crypto space for 2024, we must keep an eye on one Bitcoin halving - one of the most anticipated crypto events in 2024.

2.2 GambleFi

Crypto gambling is another emerging crypto trend to watch in 2024. Crypto’s global presence, fast transactions, anonymity, and security make it a leading choice for gamblers and developers of gambling platforms. The rising popularity of the crypto gambling space has led to the creation of a large number of crypto tokens called GambleFi tokens.

The leading GambleFi tokens to follow in 2024:

  1. Rollbit Coin (RLB)
  2. FUNToken (FUN)
  3. Decentral Games (DG)

2.3 NFTs and Tokenization of Real-World Assets (RWA)

NFT or Non-Fungible Token was a leading driver of the 2020-21 crypto bull run. However, the NFT movement has a lot of steam left to power the next bull run too. In fact, NFTs, similar to DeFi, are expected to explode in the next crypto bull phase.

One of the primary trends to watch in the NFT space is the tokenization of real-world assets. In RWA, real-life assets like real estate, securities, and even commodities can be represented on the blockchain for easy exchange. So, RWA helps establish ownership of any asset, fragmentize assets for more liquidity, and secure transactions.

The best crypto tokens to buy in the NFT and RWA space are:

  1. Internet Computer (ICP)
  2. Immutable X (IMX)
  3. Gala (GALA)
  4. Maker (MKR)
  5. Synthetic (SNX)

2.4 Green cryptos

With increased concerns for crypto’s environmental effects, investors are looking for green cryptos. Green cryptos have a much lower environmental impact compared to traditional cryptocurrencies. Low-energy cryptos are considered the the future of cryptocurrencies. To know more about green cryptos, read our complete guide on low-energy cryptocurrencies.

The top green cryptos to invest in 2024:

  1. Ethereum (ETH)
  2. Solana (SOL)
  3. Cardano (ADA)
  4. Polkadot (DOT)
  5. Cosmos (ATOM)

2.5 Regulatory changes

In addition to all the technology-related trends in crypto, we need to watch the crypto regulation space for some major developments. Major economies around the world are working on comprehensive crypto regulations. Such regulations can benefit users, developers, exchanges, and other stakeholders in the crypto space by increasing transparency and strengthening crypto laws.

Also, any change in crypto regulation can affect the crypto prices significantly. Therefore, crypto regulation is one of the key crypto-related developments you need to keep an eye on in 2024. In the meantime check what are the top 7 cryptocurrencies to mine in 2024.

3. Top 5 Crypto Trends to Watch in 2024 - FAQs

3.1 ❓ Is 2024 bullish for crypto?

After a long consolidation in 2024, the crypto market is showing potential for a bull run in 2024. Therefore, investing in the top cryptos based on key crypto trends in 2024 can help you earn big profits.

3.2 ❓ What is the crypto forecast for 2024?

The global crypto market is showing a bullish potential for 2024 after a consolidation in 2024. Stick to the emerging crypto themes to leverage the upcoming bull market.

3.3 ❓ Which crypto will grow in 2024?

There are a number of cryptos with high potential in 2024. This post on the top 5 crypto trends to watch in 2024 provides a list of the most potential cryptos based on rising crypto trends.

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Comments (2)
SendMeNxdes
SendMeNxdes 3 months ago
This blockchain-based gaming sounds sweeeeeeeeeeet! Can't wait to play some of those
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