Narratives

Narrative bubbles

Which sectors are gaining attention and whether the money is following. Each bubble is a narrative; open one to see its coins, stories, funding rounds and token sales.

Attention AI leads the news with 13.2% of 5,037 stories; DePIN grows fastest (+50%).
Money DePIN coins did best, +3.9 pts against the market (-2.8%).
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 15 +50%
  2. Quantum 33 +43%
  3. Mining 85 +37%
  4. Privacy 66 +32%
  5. Layer 1 34 +31%
  6. ETFs 149 +20%
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 (-2.8% in 7 days), weighted by value.

  1. DePIN +3.9 pts
  2. AI +3.5 pts
  3. Privacy +3.5 pts
  4. Stablecoins +3.0 pts
  5. Real-world assets +2.4 pts
Value locked, 7 days Stablecoins +13.5%Derivatives +3.5%Layer 2 -2.3%Payments -3.4%
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

Every narrative i

Narrative Now Stories Change Share Coins Vs market Volume Value Names
AI Steady 666 -4% 13.2% +0.7% +3.5 pts +38% $19.2B Elon Musk · Vitalik Buterin
Prediction markets Steady 378 -6% 7.5% — — — — CFTC
Regulation Steady 336 +14% 6.7% — — — — SEC · CFTC · Coinbase
Hacks and security Running out of steam 227 -27% 4.5% — — — — Binance · Solana · Ethereum
DeFi Steady 199 -25% 4.0% -4.4% -1.6 pts +22% $71.3B Hyperliquid · Injective
Real-world assets Steady 178 -22% 3.5% -0.5% +2.4 pts +32% $73.8B Solana · Intercontinental Exchange · OKX
ETFs Steady 149 +20% 3.0% — — — — Bitcoin · BlackRock
Stablecoins Steady 131 -35% 2.6% +0.2% +3.0 pts +30% $293.5B USDC · Circle · Tether
Memecoins Steady 93 0% 1.8% -3.1% -0.3 pts +46% $25.8B —
Institutions Steady 91 -1% 1.8% — — — — Bitcoin · Ethereum · BitMine
Mining Growing 85 +37% 1.7% — — — — —
Payments Losing interest 76 -44% 1.5% — — — — Circle · USDC
Gaming Steady 74 -4% 1.5% -3.9% -1.1 pts -8% $3.1B —
Privacy Growing 66 +32% 1.3% +0.6% +3.5 pts +25% $31.5B Zcash · Hyperliquid
Derivatives Losing interest 57 -60% 1.1% — — — — Hyperliquid · CFTC
Layer 2 Steady 49 0% 1.0% -2.4% +0.4 pts +62% $8.5B —
Layer 1 Steady 34 +31% 0.7% -3.4% -0.6 pts +44% $2.1T Solana · Ethereum · Cardano
Quantum Growing 33 +43% 0.7% — — — — —
Oracles Steady 32 -24% 0.6% -3.1% -0.3 pts +15% $9.2B —
Corporate treasuries Steady 25 0% 0.5% — — — — Bitcoin · BitMine
NFTs Steady 15 -38% 0.3% -3.0% -0.2 pts +12% $4.2B —
DePIN Growing 15 +50% 0.3% +1.1% +3.9 pts +51% $8.9B —
Liquid staking Steady 10 -29% 0.2% -2.0% +0.9 pts +38% $81.8M —
Exchange tokens Losing interest 7 -65% 0.1% -2.3% +0.5 pts +20% $149.1B BNB · Bitget