- AI and meme coin sectors are on the grind, which one will sustain the gains the longest?
- Layer 2 tokens are an interesting lot given their off-chain solutions and therefore utility.
- Gaming tokens also have strong utility as users chase incentives through in-game earnings.
The anticipated Bitcoin halving, which has traditionally ignited cyclical bull markets, is about seven weeks away. As a result, traders and investors are searching for ventures to support their plans for portfolio diversification.
Industries with promise before the 2024 bull market
Artificial Intelligence (AI), Layer 2 (L2), and gaming are the three industries that Lucie Sasnikova, a marketing specialist at Shibarium Tech and the Shiba Ecosystem, identified as having the potential to lead the upcoming bull market.
AI altcoins
AI altcoins shocked the consensus with their extreme volatility in the wake of Nvidia’s earnings report in February. The IT company is still growing, though, so this is good news for AI cryptocurrency coins. The introduction of OpenAI’s text-to-video generating tool, Sora, and the NVDA research reinforced the narrative surrounding AI and data coins, which had earlier caused a surge in the value of AI cryptos.
Layer 2 tokens
The current bullish perspective on the price of Bitcoin and its implications for tokens such as RATS, SATS, ORDI, and BRC-20 have brought L2s back into the spotlight. Layer 2 networks will be helpful when the Bitcoin meme pool gets bigger. Given the current bullish outlook driven by BTC and capital rotation, L2 altcoins are expected to witness a spike in demand.
Stacks Protocol (STX) is the only well-known L2 project that has a token on the Bitcoin network. If L2s do well in this bull market, this altcoin may perform well.
However, Lucie’s list of potential customers also includes L2 scaling solutions for Ethereum, which are characterized by development methods meant to increase transaction throughput through off-chain processing. They remain prominent due to their off-chain solutions and consequent usefulness.
Gaming tokens
Tokens for gaming also have a lot of use because players and other fans pursue rewards through in-game purchases. The three most widely used gaming tokens are ImmutableX (IMX), Axie Infinity (AXS), and Gala Games (GALA), with IMX standing out for maintaining gains from late 2023 to 2024.
On exchanges, certain game tokens that are shown to have actual value can be bought, sold, or traded. This sector’s tokens continue to enjoy excellent ratings, attract a sizable number of users to the ecosystem, and hence have enormous potential for price growth. This occurs when the sector grows and more individuals begin to play games on the blockchain.
