AI cryptocurrencies and memecoins are exploding, but for how long?

12:00 p.m. ▪ 3 min reading ▪ by Mikaia A.

Bitcoin’s resurgence is undeniable, now flirting with $68,000. This feat marks a new era of cryptocurrency investing. While some analysts predict the rise of AI cryptocurrencies and memecoins, others highlight the importance of commodity assets like bitcoin and Layer 1s. Let’s explore the recent evolution of trading volumes and their impact on the cryptocurrency market.

Bitcoin and Tier 1 Assets: Driving the Rise

The beginning of July offered a golden opportunity for bitcoin investors. After a temporary decline at around $53,800, The volume of transactions has seen a significant increasereflecting renewed interest from investors.

As noted Santiment on XThis increase in the volume of basic assets could well be the harbinger of a future rise in cryptos.

Indeed, we observed:

• A 0.5% increase in market capitalization;
• Transaction volume exceeding $30 billion.

This trend shows that Bitcoin and commodity assets remain safe bets for investors looking to diversify their portfolio in a sometimes unpredictable market.

According to a renowned analyst, “Bitcoin remains the compass of the cryptocurrency market, often pointing the way for other cryptocurrencies.”

Cryptocurrencies and AI memecoins: between promises and speculations

Along with the rise of Bitcoin, AI cryptocurrencies and memecoins have also attracted attention. Cryptocurrencies related to artificial intelligence and big data have seen their capitalization increased from 28 to 30.5 billion dollars in one month.

This sector, although promising, remains in a consolidation phase with large transaction volumes but without exponential growth. Among the most traded are INJ, TAO and NEAR.

Memecoins, on the other hand, are booming the wave of speculation. After the market recovered from the Bitcoin crash, Transaction volumes for cryptocurrencies like SHIB, PEPE, WIF and DOGE have exploded.

However, this increase is often due to speculative market movements rather than real utility, which could indicate a future correction.

The memecoin phenomenon reminds us that in the world of cryptos, caution is required to avoid falling into the traps of “pump and dump”.

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Mikaïa A.

The blockchain and crypto revolution is underway! And the day the impacts will be felt on the most vulnerable economy in this World, against all hope, I will say that I had something to do with it

DISCLAIMER

The views, thoughts and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making any investment decision.

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