By Mark Ackman
If you are new to crypto trading, then it is relatable that you do not have much of an idea about the crypto industry that much. Most of the people new to the crypto trading industry only have idea about a handful of cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and Shiba Inu. This is because these cryptocurrencies are in the news almost every other day, so any person having a fragment of interest in cryptocurrencies would know about them.
However, the crypto industry comprises of multiple segments that you can interact with in the industry. Every segment has its own way of offering trading opportunities so I will talk about the most prominent ones in the industry.
Major Cryptocurrencies
This is the most basic segment, which generally includes all the major cryptocurrencies. The segment includes Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), XRP (XRP), Cardano (ADA), Polygon (MATIC), and many other cryptocurrencies.
These cryptocurrencies are known as the largest assets in the entire crypto market. They have the largest market capitalizations in the entire crypto-verse, which means their dominance is the highest in the sector.
Bitcoin
Bitcoin is the largest asset with a market valuation that is over $543 billion. Its value is currently at $28,352.76 but it is not the highest trading value the asset has hit. Back in November of 2021, Bitcoin had hit an all-time high of $68,789.63 and at that time, its valuation was almost $1.5 trillion.
Bitcoin and Ethereum are known as the top choices among the investors and crypto users wanting to use it as a mode of payment.
BNB is the native token on the Binance exchange, which is expanding its operations across the globe. The exchange is focusing its expansion in the LATAM region, bringing mainstream usage to its native tokens.
Non-Fungible Tokens (NFTs)
Then comes the non-fungible tokens that gained their success in early 2021. These tokens are mainly adopted by the artwork creators and artists wanting to ensure they do not pay any kinds of loyalties to the sponsors, promotors, or middle-men.
The NFTs are also integrated into different kinds of blockchain-based games in the form of in-app purchases. The users can buy and sell the NFTs at the NFT marketplaces to make profits. They can also use the NFTs for sales and can generate profits from them.
NFT Artwork Collections
Some of the most prominent and highly demanded NFT artwork collections include Wrapped Cryptopunks, Azuki, MAYC, CryptoPunks, BAYC, and many more.
Most Popular NFT Tokens
Then come the tokens that are traded in the NFT segment. These tokens include Stacks (STX), Internet Computer (ICP), ApeCoin (APE), Immutable (IMX), and Tezos (XTZ).
As of now, the largest NFT token in the market is Stacks with an overall market valuation of $1.63 billion. The trading price of the asset is $1.19 per STX and its value has surged by 460.93% since the start of the year until now.
Metaverse
This is known for being among the most attractive and entertaining spaces in the entire crypto-verse. The Metaverse adoption started to gain momentum with the start of 2022.
The industry started to gain fast attraction not only among the crypto firms but also among the major tech firms. Through the technology, the users are able to interact with the virtual worlds and gain access to multiple universes, using the blockchain technology.
It has been claimed that by 2030, the Metaverse will grow into a $10 trillion industry, which means that the individuals and companies entering the space now will be counting huge profits.
Major Projects within the Metaverse
Some of the major projects within the Metaverse include Decentraland (MANA), Axie Infinity (AXS), and The Sandbox (SAND).
The Decentraland project offers its own multi-verse, which allows the users to create their own virtual lands. On top of that, the users can even create buildings and different kinds of properties that they can sell and rent out. This way, the users have the ability to generate huge profits from their investments into the virtual world.
The native token on Decentraland is MANA, which currently trades at $0.5991 and has a market valuation of over $1.11 billion. The highest trading price the asset had hit was back in mid-2021 when its value surged to a high of $5.90.
AI Segment
From the start of 2023, the artificial intelligence segment has gained worldwide success. This is because of the introduction of AI-based chat software “ChatGPT”. The particular AI-based software is able to perform tasks and run data based on the queries written by the users. The platform even answers questions about global affairs and matters.
Due to the launch of the AI-based chat bot, the adoption level for the AI-based tokens has surged significantly. These tokens have been performing really well and they are expected to be the next big thing after the NFT and Metaverse industry.
Most of the tokens introduced in the AI segment can be integrated with the NFT and Metaverse-based projects.
Most Prominent Tokens in the AI Segment
Although the industry is new, yet it has some very promising tokens to offer. The industry has introduced aiRight (AIRI) that has recorded a 623.12% surge in value from the start of the year until now.
There is another major token known as Image Generation AI (IMGNAI). The trading value of this token has surged by 4128.88% since the start of January 2023 until now.
Another most prominent token is TRIBE (TRIBEX) that has also recorded a 620.10% increase in its value from the start of 2023 until now.
Conclusion
There are many segments that are coming into being inside the crypto-verse and their adoption level is growing significantly high. However, it does not mean that every segment is promising or is going to last. The industry has introduced so many other segments the above-mentioned segments have earned the higher level of adoption. If you are new to the industry, then it is suggested that you go for the industries that are already in the market and have gained a lot of success.