- Crypto analyst explained why AI, GameFI, and Meme coin saw the most traffic in the cryptocurrency space.
- The analyst said the strongest performers were the crypto aspects users could easily understand.
- AI conversations increased tremendously this year as companies flock into the booming space.
In a recent tweet on X, renowned cryptocurrency analyst Miles Deutscher explained why some parts of the cryptocurrency ecosystem got more attention than others in 2023.
Indeed, the analyst posted a snapshot of a CoinGecko research report that broke down activities in various aspects of the crypto space. Per the snapshot, artificial intelligence (AI), GameFi, and Meme coins saw the most traffic during the year.
According to Deutscher, the strongest performers are the parts of the crypto ecosystem users can easily understand. In particular, the trio of AI, GameFi, and meme coins also accounted for a third of all crypto activities this year.
While emerging AI technology took 11.3% of the market share, GameFi and Meme coins’ traffic sits at 10.5% and 8.3%, respectively. Given this year’s boom in AI technologies and demand, the sector topping the chart list isn’t surprising.
“In crypto, you’re trading attention. Use it to your advantage,” the analyst concluded. Meanwhile, Layer-1 blockchain Solana made it into the fourth position after accounting for 7.2% of the total generated traffic.
So far this year, artificial intelligence conversations have dominated most of the markets. This surge in interest follows several institutional influxs into the space predicted to revolutionize the world as we know it.
At the same time, meme coins grew in prominence, most notably on the rejuvenated Solana network. Several meme tokens launched within the network have seen tremendous prices in a short time. GameFi also saw a surge as users returned to the crypto ecosystem following signs of a recovery from 2022 lows.
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