In 2025, AI and celebrity coins will experience a big dump, while real yield projects become the new favorites in the market.

Starting from 2025, the most significant feature of the Crypto Assets market is the lack of sustainability in the rise. This weak trend is not only reflected in the niche Tokens on the exchange but even the blockchain native Tokens that performed well in the fourth quarter of 2024 have encountered a significant fall.

Observing the performance of AI-related Tokens in 2025, we can see:

• Virtual fall 79.2%
• Ai16z fell 85.5%
• AIXBT falls 68%
• Griffain fall 80.3%
• Buzz falls 72.4%
• Fartcoin fall 67.5%
• ARC fell 62%
• Swarms fall 45%

In less than three months, the once hot top projects have actually fallen by 80%. Although it cannot be definitively stated that this track has failed, the loss of market attention is an undeniable fact, and it is likely difficult to regain favor in the short term.

Let's take another look at the situation in the celebrity coin sector. This trend was initiated by Trump, and subsequently, other celebrities and even some countries followed suit. The following are the declines of major celebrity coins since their peak:

• Trump falls 77.1%
• Melania fall 91%
• Vine fell 92.7%
• jailstool fell 93.5%
• Jellyjelly falls 98%
• CAR fell by 98.5%
• Libra fell 94.3%

There is a saying in the Crypto Assets market: "Invest in the new, not the old," which means that funds tend to chase emerging narratives. However, compared to AI Tokens, the fall in the celebrity coin sector is even more severe. So, what are the main issues currently facing these two sectors? In the current context of a lack of new narratives, is there still a possibility for breakthroughs?

Current narrative dilemma: Pure conceptual speculation is prevailing

In terms of the AI track, many projects are still stuck at the "concept demonstration" and "future blueprint" stages, lacking practical and widely promotable products. Even when some usable services appear on the market, they suffer from issues such as complex interfaces and poor user experience, making it difficult to attract ordinary investors for long-term participation. Worse still, some project parties, in order to cater to investors' expectations for "AI + Blockchain", often first inflate prices with exaggerated narratives, while actual applications are repeatedly delayed. Over time, funds lose patience, attention begins to shift, leading to a significant fall in the prices of related Tokens.

In terms of celebrity coins, although Trump brought tremendous attention to this sector, the market subsequently faced the "celebrity effect decay" problem: it became very difficult to find a public figure whose topic and influence could surpass Trump's. Following this, various political figures, influencers, and celebrities attempted to follow suit, but none were able to replicate the initial funding fervor and market sentiment. As the market's following continued to decline, the celebrity coin sector exhibited a fleeting characteristic, with investor confidence quickly eroding and prices subsequently plummeting.

The reason these sectors have fallen into significant volatility is that many projects only remain at the "hype concept" level, lacking real and sustainable profit models. Whether it's AI or celebrity coins, their core narrative relies on the rapid influx of capital and hype but lacks the motivation to keep users engaged in the long term. When the hype fades, prices become difficult to maintain, making it even harder to attract new funds.

Looking for real yield projects

To stand out in the current narrative-weary market, the key is to find products that have "real returns" and are willing to share these returns with users. The so-called "real returns" refer not only to the short-term rise at the time of the exchange listing but also to the ability to continuously generate returns through actual business models and trading behaviors, and to feedback these returns to Token holders or ecosystem participants.

A certain decentralized exchange platform fits this model. In terms of business, it is similar to centralized exchanges, with the main revenue source being contract trading fees. However, this platform uses 100% of the fees to repurchase its platform tokens, and the trading fees are directly related to the trading volume, which tightly binds the token price to the product's usage.

According to data platform statistics, the platform handled about 45% of the total trading volume of all perpetual contract decentralized exchanges in 24 hours, with an average daily trading volume of 3.78 billion USD and daily revenue of approximately 1 million USD. Even in the current market downturn, the platform maintains a very high level of activity, which is why, despite the general fall of altcoins in the past month, the price of its platform token remains strong.

No matter how popular the narrative is, it will eventually fade. What can exist long-term in the crypto market are those projects that have found a fit between their products and the market, possess high user stickiness, and can generate real profits.