Dissecting Messari's 2024 Research Report: Bullish on Ethereum, DePIN, AI, and Solana Ecosystems, Focusing on Leading Tokens Across Sectors
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Dissecting Messari's 2024 Research Report: Bullish on Ethereum, DePIN, AI, and Solana Ecosystems, Focusing on Leading Tokens Across Sectors
Autonomous worlds can break the deadlock in the game development field.
Navigating Web3 tides with focused insightsAuthor: Distilled Crypto
Translation: TechFlow
Recently, the cryptocurrency research firm Messari released a 2024 research report covering key crypto trends and projects. The full report spans 194 pages. Twitter user DistilledCrypto thoroughly read and analyzed the entire document, distilling its core insights as detailed below.
1. DePIN x AI Synergy
Artificial intelligence will require massive computing power and data storage.
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Computing power: $RNDR, $AKT
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Data storage: $FIL
Decentralized storage networks present a significant market opportunity.
2. Messari Analysts’ Top Picks
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DePIN + DeAI = Killer application for crypto
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On-chain agent frameworks
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Eigen layer + restaking
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SOL ecosystem projects
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On-chain yields from RWA and LST
Overall, Messari is bullish on these tokens: $RNDR, $SOL, $TAO, $OLAS
3. Coinbase Market Penetration
Coinbase's "TVL" custody exceeds the total DeFi value across all blockchains by 80%.
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CEX and Base L2 expansion amplify Coinbase’s influence
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Coinbase blurs the line between CeFi and DeFi
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Coinbase brings traditional financial RWAs on-chain
4. Modularity and Celestia
TIA provides data availability and consensus for modular blockchains. The modular blockchain narrative is poised to make a major market impact.
Relevant projects and tokens include: $ATOM, $TIA, Eclipse FND, and $CHR
Networks purpose-built for Rollup data availability (DA) are emerging.
5. Solana + Firedancer
Developed by Jump Crypto, Firedancer aims to enhance Solana's scalability.
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Extremely fast, matching CEX speeds
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Backed by Coinbase
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Enables micropayments, DePIN, and rapid DeFi
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Potential airdrop wealth effect: $JUP, $PYTH, $JITO
6. Bitcoin: Godzilla of Finance
Bitcoin, known as digital gold, has several tailwinds:
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Spot Bitcoin ETFs and the upcoming Bitcoin halving
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Growing concerns over fiat currency devaluation
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The Financial Accounting Standards Board (FASB)'s 2025 fiscal plan is favorable toward crypto and could drive positive momentum
7. Is DeFi Coming Back?
DeFi accounts for less than 0.01% of global financial assets (approximately $510 trillion in value).
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Is increased regulation inevitable?
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UNI still holds an edge in DeFi; competition across other chains is fierce
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Watch Orca, $JOE, $ASTRO (on SOL, AVAX, ATOM)
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Are other cryptocurrencies or platforms exceeding Ethereum in daily trading volume?
8. Sports Betting and Information Markets
We are in a U.S. presidential election year, meaning a surge in prediction markets and betting activity.
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Prediction markets may grow rapidly
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Sports betting grows at around 15% annually
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Key protocols to watch: Azuroprotocol and Polymarket
9. Gaming + Autonomous Worlds
Autonomous worlds can break the bottleneck in game development.
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$MATIC, $IMX are core ecosystems in this space, with $SOL following closely
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Expect 5–7 games to reach 100k daily active users by 2025
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In-game AI characters: $PRIME
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Autonomous world tools: Dojo
10. Bullish Narratives for Ethereum
Ethereum underperformed in 2023—has it been overly discounted?
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ETH has long-established reliability
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A liquid ecosystem with a $300 billion market cap
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Ethereum is greener and more environmentally friendly than Bitcoin, supporting ESG narratives
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Upcoming Ethereum ETF speculation
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Killer apps may only be achievable faster on SOL
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Ethereum can still offer 4–5% yield even in a rate-cutting environment
11. DePIN Ecosystem
DePIN = Decentralized Physical Infrastructure Networks, a concept coined by Messari in 2023. Below are some notable projects.
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Storage ecosystem: $FIL, $AR, $SIA, $STORJ
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Wireless networks: $HNT, $HONEY
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Decentralized databases: $GRT, Space and Time
Applications in DeSoc, gaming, and ML/AI heavily rely on decentralized databases.
12. AI x Cryptocurrency
Here are some projects combining AI and crypto:
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GPU shortage solutions: $AKT, io.net
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Transparent AI training: gensyn
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Incentivized machine learning collaboration: $TAO
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Infrastructure for AI agents: $OLAS, ChainML
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On-chain AI (e.g., for DeFi): Upshot
In a crypto utopian future, DAOs will become benevolent, AI-driven protocol governors.
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@DistilledCrypto
