Cryptocurrency is an evolving beast. It’s perhaps known by some because of its unpredictability. Most will associate that unpredictable nature with the volatility that can be experienced regarding its price.

However, what also makes the digital currency hard to understand and determine what might happen next is due to the sheer number of trends that can be observed.

The market is continually changing, and like many other industries, there are several trends and patterns that are possible to identify. Nonetheless, it does seem that there appears to be more trends in this space than almost any other…

What trends are hot in crypto currently?

When it comes to the current trends being experienced across cryptocurrency, there are several that are possible to observe.

There has been a huge rise in the availability of new tokens in recent times. This can be seen with the crypto presale of the Wall Street Pepe Token. This token is a meme coin, which has experienced a buoyant rise. Meme coins rose to prominence through Dogecoin and its endorsement by Elon Musk. Since then, they have become an important part of the industry due to their popularity. However, they can be risky due to their volatile nature. As popularity and confidence can rise and fall, so can the price. This can happen very quickly, which can leave the holders exposed.

Aside from meme coins, there has also been a rise of utility tokens recently. This trend has seen more of these coins be made available, as the tokens are used to help build ecosystems within decentralized apps (dApps). They can also be used in gaming, which has led to some players using them as a form of currency when making purchases, especially as more games begin to include NFTs. Unsurprisingly, NFTs are now on the rise, too.

DeFi tokens have started to enjoy a growth as one of the hottest trends in the crypto space, too. These coins are being consistently released into the market as they offer differences to the utility tokens that are being made available. They provide features such as token staking, token liquidity provision and token yield earning. As a result, there have been instances where patterns have occurred across yield farming. Investors are transferring their tokens between platforms or exchanges to try and give themselves the chance to maximize their potential returns. 

What patterns and trends could we see in the future?

As stated, the cryptocurrency market is an ever-evolving beast and one that doesn’t stand still. While something may be a trend now, it may not be in the future. Equally, something that isn’t a trend now can become one for many reasons.

With the rapid evolution and development of artificial intelligence, AI is expected to be a huge trend that is experienced soon. Technology has shown it has the capabilities of being able to achieve almost anything. There is a place for it within the cryptocurrency sphere based on this.

To provide context regarding their importance, AI tokens were valued at around $2.7 billion in April 2023. As of October 2024, they now have a value of more than $39 billion. That figure is expected to continue to rise in the months and years to come.

Elsewhere, we may see mergers, acquisitions, and other big-funding moves take place across the industry. Although there have been moments of doubt and concern, including 2022 where investors weren’t prepared to put money in, the market has recovered.

In 2023’s final quarter, investors had put $1.9 billion into crypto-based companies. The single-largest investment had stood at $225 million, however February 2024 saw an investment of $485 million be put into blockchain startups. It represented a three-month high, and investors are predicting that there is more to come. They’ve suggested that real-world applications of blockchain technology will be focused upon, as the required infrastructure is needed.

Sill so many trends to expect

Although there have been a few trends noted, the cryptocurrency industry can benefit from so many different trends in the future. Given its decentralized and unregulated nature, it’s possible to suggest that we could see trends or patterns experienced across these aspects. It’s likely, given what has happened in the recent past regarding scandals.

We could still see things happen regarding the impact coins have on the environment, with a focus on perhaps greener coins.

It’s difficult to know what may happen in the future with so many possibilities, but what we do know is currently there are several trends that are hot now!