Dismantling Messari 2024 Research Report: Bullish on Ethereum, DePIN, Ai and Solana Ecosystem

Autonomous worlds could break the logjam in game development.

**Written by **Distilled Crypto

Compiled by: Shenchao TechFlow

Recently, cryptocurrency research institution Messari released a 2024 research report covering key encryption trends and projects. The report has a total of 194 pages. Twitter user DistilledCrypto read and analyzed the full text of the report in detail, and refined the full text. See below for details.

1.DePIN x AI cooperation

Artificial intelligence will require massive amounts of computing power and data storage.

• Computing power: $RNDR, $AKT
• Data storage: $FIL

Decentralized storage networks have huge market opportunities.

2.Messari Analysts’ top choice

DePIN + DeAI = Cryptocurrency’s Killer App

• On-chain proxy framework
• Eigen layer + re-staking
• SOL Ecosystem Project
• On-chain income from RWA and LST

Taken together, Messari is optimistic about these currencies: $RNDR, $SOL, $TAO, $OLAS

3. Coinbase market penetration

Coinbase’s “TVL” custody volume is 80% more than DeFi on all blockchains.

• CEX and Base L2 expand Coinbase’s influence
• Coinbase blurs the line between CeFi/DeFi
• Coinbase brings traditional financial RWAs onto the chain

4. Modularity and Celestia

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

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

Purpose-built networks for Rollup Data Availability (DA) are emerging.

5.Solana + Firedancer

Firedancer, developed by Jump Crypto, aims to improve Solana’s scalability.

• Very fast, comparable to CEXs
• Supported by Coinbase
• Micropayments, DePIN, fast DeFi
• Has airdrop wealth effect, $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 plan is beneficial to cryptocurrencies and may be considered to promote the positive development of cryptocurrencies

7. Is DeFi back?

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

• Is the path to more regulation inevitable?
• UNI still has an advantage in DeFi; competition from other chains is fierce.
• Orca, $JOE, $ASTRO (SOL, AVAX, ATOM) to watch
• What other cryptocurrency or platform has more daily trading volume than Ethereum?

8.Sports Betting and Information Market

We’re in a U.S. presidential election year, which means a lot of predictions and gambling.

• Prediction markets are likely to grow rapidly *Sports betting is growing at about 15% annually *Protocols worth watching are Azuroprotocol and Polymarket

9. Game + Autonomous World

Autonomous worlds could break the logjam in game development.

• $MATIC, $IMX are the core ecology in this field, followed closely by $SOL
• By 2025, 5-7 games will reach 100,000 daily active users
• In-game AI character: $PRIME
• Autonomous world tool: Dojo

10. Bullish Ethereum Narrative

Ethereum Underperforms in 2023, But Is It Too Bearish Now?

• ETH has long-established reliability
• Liquidity ecosystem and $300 billion market capitalization
• Ethereum is cleaner and more environmentally friendly than Bitcoin and has an ESG narrative
• Subsequent Ethereum ETF hype
• Killer applications can only be implemented quickly on SOL
• Ethereum will still have a 4-5% return rate in an interest rate cut environment

11.DePIN Ecosystem

DePIN = Decentralized Physical Infrastructure Network, concept created by Messari in 2023. Here are some projects worth keeping an eye on.

• Storage ecology: $FIL, $AR, $SIA, $STORJ *Wi-Fi: $HNT, $HONEY
• Decentralized database: $GRT, Space and Time

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

12.AI x Cryptocurrency

Here are some projects combining AI and cryptocurrency:

• GPU shortage: $AKT, io.net
• Transparent AI training: gensyn
• Incentivize ML collaboration - $TAO
• Infrastructure for AI agents: $OLAS, ChainML
• On-chain AI (such as DeFi): Upshot

In a crypto-utopian future, DAOs will serve as benevolent, AI-driven protocol stewards.