Exploring Potential Winners in the Altcoin Season: DePIN and AI Tokens
Vitalik Buterin’s Take on DePIN Tokens
With the upcoming altcoin season on the horizon, the cryptocurrency community is buzzing about which token category will skyrocket. Among the favorites are DePIN and AI tokens, catching the attention of notable figures in the industry.
Co-founder of Ethereum, Vitalik Buterin, recently engaged the community in discussions about DePIN tokens. Meanwhile, prominent crypto blogger Lark Davis is eyeing AI tokens as potential winners in the altcoin season.
DePIN Tokens — Insights from Buterin
As the bull market surges, with Bitcoin (BTC) hitting new all-time highs almost daily and Ethereum (ETH) showing positive momentum, many altcoins are aiming for ATH. Vitalik Buterin pondered which alternative tokens might make a mark in this market.
On the Warpcast social platform, Ethereum’s co-founder deliberated on DePIN projects and their tokens. He questioned whether the trendy term “DePIN” might disguise old concepts like StorJ or decentralized Ubers. Buterin sought the community’s opinion on these project categories:
“It seems like all this has been around for decades, just not catching on or taking off. Are there any bullish indicators why it [DePIN] might take off now?”
AI Tokens Trending
While DePIN tokens spark some debate in the community, AI tokens are almost unanimously believed to have a bright future. As of March, the market capitalization of AI tokens exceeded $25 billion.
Renowned crypto blogger Lark Davis even conducted a poll among his followers on X (formerly “Twitter”), uncovering community preferences for AI assets.
We’ve compiled a selection of AI tokens worth watching in 2024 for your consideration.
The hype surrounding artificial intelligence technology and cryptocurrencies in this segment began last year. This was driven by the rise of AI company stocks and the trend toward smart chatbots like ChatGPT by OpenAI or Bard by Google. In early January, tokens related to artificial intelligence even outperformed Bitcoin and Ethereum in terms of returns.
However, experts have recently discussed that, apart from the hype, there’s little to support the value of such altcoins. For instance, analysts at Coinbase predict that most AI tokens will likely depreciate in the short and medium term.
