Interpretation of Messari 2024 Research Report: Bullish on Ethereum, DePIN, AI, and Solana Ecosystem

Original Author: Distilled Crypto

Original Compilation: 深潮 TechFlow

Recently, the cryptocurrency research institution Messari released a research report for 2024, covering key crypto trends and projects. The report spans 194 pages, and Twitter user DistilledCrypto has read and analyzed the entire report in detail, summarized below.

1. DePIN x AI Collaboration

Artificial intelligence will require substantial computing power and data storage.

Computing Power: $RNDR, $AKT

Data Storage: $FIL

Decentralized storage networks have huge market opportunities.

Interpretation of Messari's 2024 Research Report: Bullish on Ethereum, DePIN, AI, and the Solana Ecosystem

2. Messari Analysts' Favorites

DePIN + DeAI = Killer Applications for Cryptocurrency

On-chain proxy framework

Eigen layer + restaking

SOL ecosystem projects

On-chain yields from RWA and LST

Overall, Messari is optimistic about these cryptocurrencies: $RNDR, $SOL, $TAO, $OLAS

3. Coinbase Market Penetration

Coinbase's "TVL" custody volume is 80% more than all DeFi on all blockchains.

CEX and Base L2 expand Coinbase's influence

Coinbase blurs the lines between CeFi and DeFi

Coinbase brings traditional financial RWAs on-chain

4. Modularization and Celestia

TIA provides data availability and consensus for modular blockchains. The modular blockchain narrative will have a significant impact on the market.

Corresponding projects and cryptocurrencies include: $ATOM, $TIA, EclipseFND, and $CHR

Networks specifically built for Rollup data availability (DA) are emerging.

5. Solana + Firedancer

Firedancer, developed by Jump Crypto, aims to enhance Solana's scalability.

Very fast, comparable to CEXs

Supported by Coinbase

Micro-payments, DePIN, rapid DeFi

With airdrop wealth effects, $JUP, $PYTH, $JITO

6. Bitcoin: The Godzilla of Finance

Bitcoin, known as digital gold, has many positive events:

Spot Bitcoin ETF and Bitcoin halving event

Growing concerns about fiat currency devaluation

The Financial Accounting Standards Board (FABSB) 2025 fiscal year planning is favorable for cryptocurrencies and may be seen as driving positive developments in the crypto space

7. Has DeFi Made a Comeback?

DeFi accounts for less than 0.01% of global financial assets (approximately $510 trillion in value).

Is the path toward more regulation inevitable?

UNI still dominates in DeFi; competition is fierce among other chains.

Orca, $JOE, $ASTRO (SOL, AVAX, ATOM) are worth watching

Do other cryptocurrencies or platforms have daily trading volumes exceeding Ethereum?

8. Sports Betting and Prediction Markets

We are in a U.S. presidential election year, which means a lot of predictions and betting.

Prediction markets may grow rapidly

Sports betting is growing at about 15% annually

Notable protocols include Azuroprotocol and Polymarket

9. Gaming + Autonomous Worlds

Autonomous worlds can break the deadlock in game development.

$MATIC, $IMX are core ecosystems in this field, with $SOL following closely

By 2025, 5-7 games are expected to reach 100,000 daily active users

In-game AI characters: $PRIME

Autonomous world tools: Dojo

10. Bullish Narrative for Ethereum

Ethereum's performance in 2023 was poor, but is it now overly pessimistic?

ETH has long-established reliability

Liquidity ecosystem and $300 billion market cap

Ethereum is cleaner and more environmentally friendly than Bitcoin, with an ESG narrative

Subsequent Ethereum ETF hype

Killer applications can only be rapidly realized on SOL

Ethereum will still yield 4-5% in a rate-cutting environment

11. DePIN Ecosystem

DePIN = Decentralized Physical Infrastructure Network, a concept created by Messari in 2023. Here are some noteworthy projects.

Storage Ecosystem: $FIL, $AR, $SIA, $STORJ

Wireless Networks: $HNT, $HONEY

Decentralized Databases: $GRT, Space and Time

Applications in DeSoc, gaming, and ML/AI will heavily rely on decentralized databases.

12. AI x Cryptocurrency

Here are some projects combining AI and cryptocurrency:

GPU Shortage: $AKT, io.net

Transparent AI Training: gensyn

Incentivizing ML Collaboration - $TAO

Infrastructure for AI Agents: $OLAS, ChainML

On-chain AI (e.g., DeFi): Upshot

In a crypto utopian future, DAOs will become benevolent, AI-driven protocol managers.