Narratives

real data

Which sectors are gaining attention, whether the money is following, and which names are carrying the news. Each bubble is a narrative; each name below says which narratives its stories are about.

Attention AI leads the news with 12.9% of 4,941 stories; DePIN grows fastest (+60%). Most talked-about name this week: Bitcoin, 81 stories.
Money Stablecoins coins did best, +4.2 pts against the market (-4.0%).
Changing Nothing clearly emerging; Derivatives is losing interest.

Crypto narrative bubbles

i growing falling steady emerging
1 · Where is the attention?

Growing fastest in our stories, last 7 days against the 7 days before.

  1. DePIN 16 +60%
  2. Quantum 30 +36%
  3. Mining 82 +30%
  4. Layer 1 33 +27%
  5. Privacy 65 +25%
  6. Layer 2 52 +21%
Most searched coins Layer 1 3.8 ▲DeFi 1.3 ▼AI 1.2 ▼Memecoins 1.0
2 · Where is the money?

Each sector's coins against the whole market (-4.0% in 7 days), weighted by value.

  1. Stablecoins +4.2 pts
  2. DePIN +2.7 pts
  3. Real-world assets +2.0 pts
  4. Privacy +1.8 pts
  5. Liquid staking +1.4 pts
Value locked, 7 days Stablecoins +12.3%Derivatives +3.1%Layer 2 -3.8%Payments -4.2%
3 · What is changing?

Attention and money read together, with the rule at the bottom of the page.

Emerging · barely in the news before
none
Accelerating · more news, and the money agrees
none
Running out of steam · still talked about, money leaving
Losing interest · less news and less money

Names in the news this week i

Attention this week i

% = change in news stories vs the week before, not price; «stories» when the week before had fewer than five more storiesfewer

Stories this week i 309 +25.1%
Live threads30
In the archive702 stories · 47 days
Tone i
159130
progress · stress
Who has the conversation Bitcoin 28%Ethereum 10%Binance 10%XRP 8%

Every narrative i

Narrative Now Stories Change Share Coins Vs market Volume Value Names
AI Steady 636 -11% 12.9% -3.5% +0.5 pts +33% $19.2B Nasdaq · Vitalik Buterin
Prediction markets Steady 365 -12% 7.4% — — — — CFTC
Regulation Steady 320 +8% 6.5% — — — — SEC · CFTC · Coinbase
Hacks and security Running out of steam 232 -26% 4.7% — — — — Binance · Solana · Ethereum
DeFi Steady 201 -26% 4.1% -6.5% -2.5 pts +31% $72.0B Aave · Hyperliquid · Robinhood
Real-world assets Steady 165 -30% 3.3% -1.9% +2.0 pts +40% $74.1B Solana · Intercontinental Exchange · OKX
ETFs Steady 140 +17% 2.8% — — — — Bitcoin · BlackRock · Nasdaq
Stablecoins Steady 134 -33% 2.7% +0.2% +4.2 pts +41% $293.7B Tether · XRP · Coinbase
Memecoins Steady 89 -10% 1.8% -5.1% -1.1 pts +56% $26.0B —
Institutions Steady 86 -5% 1.7% — — — — Bitcoin · BitMine · Strategy
Mining Growing 82 +30% 1.7% — — — — —
Gaming Steady 70 -5% 1.4% -5.9% -1.9 pts -8% $3.1B —
Payments Losing interest 70 -49% 1.4% — — — — —
Privacy Growing 65 +25% 1.3% -2.2% +1.8 pts +68% $32.6B Zcash · Hyperliquid
Derivatives Losing interest 59 -59% 1.2% — — — — Hyperliquid · CFTC
Layer 2 Growing 52 +21% 1.1% -2.9% +1.1 pts +58% $8.7B —
Layer 1 Steady 33 +27% 0.7% -4.6% -0.7 pts +60% $2.1T Solana · Ethereum · Cardano
Oracles Steady 32 -22% 0.6% -4.7% -0.8 pts +18% $9.2B Chainlink
Quantum Growing 30 +36% 0.6% — — — — —
Corporate treasuries Losing interest 20 -23% 0.4% — — — — Bitcoin · BitMine · Strategy
DePIN Growing 16 +60% 0.3% -1.3% +2.7 pts +64% $9.0B —
NFTs Losing interest 13 -46% 0.3% -5.7% -1.7 pts +9% $4.2B —
Liquid staking Steady 11 -15% 0.2% -2.5% +1.4 pts +11% $82.5M —
Exchange tokens Losing interest 6 -70% 0.1% -3.9% 0.0 pts +26% $149.7B BNB · Bitget

Every name i

Player Momentum This week Stories Widest 7 d Price News vs price Often with 21 days Latest
Bitcoin
asset
InstitutionsCorporate treasuries
98 ▲ more news 241 21 81 -3.9% +67 Ethereum · Strategy · Binance · BlackRock Strategy buys 1,036 Bitcoin, repurchases $188 million of STRC
Binance
company
Hacks and security
96 ▲ more news 84 31 48 — — Bitcoin · XRP · Ethereum · THORChain Binance Names Justin Yek CFO as Kaiser Ng Prepares to Leave
Ethereum
asset
Hacks and securityLayer 1
92 ▲ more news 86 14 30 -6.9% +39 Bitcoin · BitMine · Binance · Solana Tom Lee’s Bitmine nears 5% Ethereum supply target with $20 million ETH buy as he predicts tokenization and AI ‘supercycle’
Solana
asset
Real-world assetsLayer 1
90 ▲ more news 61 12 26 -7.5% +29 Ethereum · Binance · XRP · USDC Schwab adds solana, avalanche and chainlink to crypto platform
Coinbase
company
RegulationHacks and security
88 ▲ more news 31 14 12 — — Bitcoin · Binance · XRP · Deribit Coinbase Wallet plans to add AI agent capabilities this year
SEC
regulator
RegulationReal-world assets
84 ▲ more news 26 11 9 — — Canton · XRP · Solana · OKX Formation notifies SEC to operate first tokenized securities venue on Solana
Tether
asset
StablecoinsHacks and security
82 ▲ more news 24 11 8 — — Bitcoin · Ethereum · USDC · TRON Blumenthal sets Jan 4 deadline for Binance, Tether and Trump crypto firms as power shifts - investingLive
Zcash
asset
PrivacyLayer 1
80 ▲ more news 19 10 10 -3.0% +59 Hyperliquid · THORChain · Bitcoin Zcash devs propose another block time cut days after NU7 upgrade
Cardano
asset
Layer 1Real-world assets
71 ▲ more news 15 6 4 -5.1% +39 SEC · ESMA ADA Price Prediction: Oversold bounce meets weak trend as $0.17 becomes the line in the sand
BlackRock
company
ETFsReal-world assets
71 ▬ about the same 14 13 5 — — Bitcoin · Ethereum · JPYSC BlackRock sells $405M worth of Bitcoin as IBIT redemptions pile up
BitMine
company
Corporate treasuriesInstitutions
71 ▲ more news 9 9 4 — — Ethereum · Bitcoin · Binance Tom Lee’s Bitmine nears 5% Ethereum supply target with $20 million ETH buy as he predicts tokenization and AI ‘supercycle’
XRP
asset
Stablecoins
70 ▬ about the same 67 22 19 -12.2% +9 Binance · Ripple · Ethereum · Bitcoin Is XRP heading towards $1 amid persistent ETF outflows?
US Treasury
regulator
Regulation
70 ▲ more news 4 16 3 — — Treasury cuts off MEXC Global over alleged $16 billion in transactions linked to Iran, North Korea and Russia
Bitget
company · asset
Real-world assetsExchange tokens
69 ▲ more news 8 12 3 -2.4% +36 SEC Thailand to block Bitget in December over unlicensed crypto trading
Hyperliquid
asset
DerivativesDeFi
68 ▼ less news 22 16 7 -11.7% +13 Zcash · Binance · SEC · Kraken Kinetiq launches Elysium Layer 2 to expand Hyperliquid beyond perps
World Liberty Financial
asset
66 ▲ more news 3 15 3 -5.4% -34 Trump says sons run World Liberty Financial as he denies role in crypto deals
Intercontinental Exchange
company
Real-world assets
63 ▬ about the same 10 16 3 — — OKX · JPMorgan · Hyperliquid · Goldman Sachs Apple Joins OKXICE Stock-Token Objectors as Total Reaches 59
Aave
asset
DeFiReal-world assets
62 ▬ about the same 14 7 5 +0.2% +72 Chainlink · Tether · SEC · Morpho Aave Freezes New tBTC Supply and Borrowing After Mint-and-Redeem Pause
OKX
company
Real-world assets
62 ▼ less news 13 13 3 — — Intercontinental Exchange · SEC · JPMorgan · Goldman Sachs OKX Warns MEXC Users of Deposit Freezes Ahead of FinCEN Cutoff
Chainlink
asset
Real-world assetsDeFi
60 ▬ about the same 9 7 3 -5.3% +19 Aave · USDC · Solana · LayerZero Schwab adds solana, avalanche and chainlink to crypto platform
Strategy
company
InstitutionsCorporate treasuries
58 ▬ about the same 9 7 2 — — Bitcoin Michael Saylor: how Strategy amassed 849,327 Bitcoin
Vitalik Buterin
person
AI
57 ▬ about the same 5 7 2 — — Ethereum · Binance Vitalik Buterin wants ETH to be a store of value, not a fee-burning token
CFTC
regulator
RegulationPrediction markets
56 ▼ less news 16 13 5 — — Cboe · Binance · Anchorage Digital DSA’s Adrian Wall and Former CFTC Chair Chris Giancarlo Discuss Future of U.S. Crypto Regulation at Strobe Summit
Bybit
company
56 ▬ about the same 4 7 1 — — Robinhood · Binance Explore Bybit Lite Loan: No Liquidation for 30 days
CoinDCX
company
Hacks and security
56 ▬ about the same 4 15 1 — — Tether · Binance India Probes CoinDCX, Delta Exchange Over Alleged Offshore Crypto Trading Worth Thousands Of Crores
Avalanche
asset
Layer 1
55 ▬ about the same 7 6 2 +3.3% +20 USDC · Solana · Ethena · Chainlink Schwab adds solana, avalanche and chainlink to crypto platform
European Central Bank
regulator
54 ▬ about the same 3 10 1 — — ECB, EU regulators seek common rules for tokenized securities
BNB
asset
Exchange tokensHacks and security
53 ▬ about the same 10 4 3 -2.5% +47 Nasdaq · Binance BNB Chain, Base respond to Reth security bug affecting EVM networks
Robinhood
company
DeFiReal-world assets
52 ▼ less news 17 7 2 — — Uniswap · XRP · Solana · Bitcoin Robinhood brings IPO Access to the UK, opening US listings to British retail investors
Nasdaq
company
ETFsAI
52 ▼ less news 13 10 4 — — Bitcoin · Franklin Templeton · XRP · Stellar Nasdaq Approves Listing of Canary’s Staked Injective ETF