AI Holds Massive Growth Potential for Crypto Market
Jamie Coutts, the chief crypto analyst at Real Vision, believes that the crypto market could experience a parabolic rally thanks to the adoption of artificial intelligence (AI). Coutts anticipates significant growth in the market as AI agents start using crypto, leading to an exponential growth curve. By 2030, he predicts that the combined market value of smart contract platforms could reach between $15 trillion and $25 trillion through the use of digital assets and blockchain technology by AI agents.
Coutts also points out that key indicators are showing signs of a market bottom forming for altcoins. While some altcoin projects may never recover, others are expected to trade in a range before eventually soaring to new all-time highs later this year. The analyst references the top 200 equal-weight index, which tracks the performance of the top 200 cryptocurrencies by market capitalization relative to Bitcoin (BTC), the daily active user count of smart contract platforms, and the altseason indicator.
According to Coutts, the index is still trending downward, but the altseason indicator suggests that the recent washout was likely a relative momentum bottom. He notes that while altcoins may continue to fluctuate, many have started to build strong bases. Daily active users are up 97% year-to-date, with the potential to surpass 20 million compared to 6 million in 2023. Despite a slowdown in growth in the past month, the upward trajectory remains intact.
However, Coutts cautions that not all altcoins will experience a resurgence. Many projects, labeled as “shitcoins,” may struggle to recover due to various factors such as supply increases, suboptimal tokenomics, poor product-market fit, and a lack of community support. On the other hand, stronger layer-1s and decentralized applications (dApps) are expected to thrive and achieve new all-time highs in the second half of 2024. Coutts advises monitoring growth metrics to identify potential winners in the market.
To stay updated on the latest developments in the crypto market, Coutts recommends subscribing to email alerts for timely information. Additionally, readers can follow Real Vision on various social media platforms like X, Facebook, and Telegram for real-time updates and insights. With AI driving growth potential in the crypto market, investors and enthusiasts alike are encouraged to stay informed and actively participate in the evolving landscape of digital assets and blockchain technology.
