A single year. 10 narratives. Countless opportunities.
From the annals of DeFi, let's explore the top-performing tokens each month of the past year and uncover the reasons behind their exceptional growth.
Plus my tips on narrative trading.
Let's dive in! 🧵👇🏻
I've used CoinMarketCap data and wrote a script to go over the best-performing tokens for each of the last 12 months.
The only filter I used was to exclude tokens with less than $10M in daily volume.
August 2022:
In the middle of the bear market:
1️⃣ The Ethereum Merge narrative and the huge potential of LSDs getting priced in!
Best performing token: $LDO > 6x
Outperforming every single token in the market.
September 2022:
Back to Bear market vibes, not much happening.
Best performing tokens: $NEBL and $VIB > 15x
Probably related to exchange listings.
October 2022:
Continuation of the bear market.
Best performing token:
$MASK > 6x
November 2022:
This is where the fun begins.
FTX collapses.
2️⃣ DeFi wallets become the safe haven.
Best performing token: TWT > 3x
As well as other DeFi wallet tokens $SFP, $C98
December 2022:
The world discovers OpenAi's ChatGPT. An immediate hype for everything AI follows.
3️⃣ Start of AI summer
Any token that could be associated with "AI" explodes in price.
Best-performing token: $FET > 10x
As well as $OCEAN, $AGIX, $CTXC, etc.
January 2023:
4️⃣ Start of LSD L1 summer
The market bounced and everything went up but the best performer token was:
$LDO > 3x (LSD-Fi)
As well as $RPL, $FXS, etc.
February:
5️⃣ Start of China narrative
Best-performing token:
$CFX: ~20x !
As well as CTXC, HIGH, KEY, etc.
March:
6️⃣ Arbitrum season in full swing.
Best-performing tokens:
$GRAIL, $RDNT > 10x
April:
7️⃣ Start of Meme 2.0 season
Best-performing tokens:
$PEPE > 30x
As well as Wojak, AiDoge, Ben, Bob, Capo, Psyop, and countless others.
May:
8️⃣ LSD-Fi summer and the rise of LSD L2s
Best-performing tokens:
$PENDLE > 5x
As well as $LBR, $TENET, $ASX, etc.
June:
9️⃣ Bitcoin ETF+Blackrock narrative
Best-performing token:
$BCH > 3x
As well as BTC, STX and XLM
July:
🔟 Telegram bot narrative.
Best-performing token:
$UNIBOT > 50x
Few tips:
🔸 Almost every month, there is a new narrative. Rotations follow. Don't marry your bags. $UNIBOT won't be the best performer in September.
🔸 Anything that goes up must come down. It's not a matter of if but when. Specially in a bear market. RR matters!
🔸 Explosive upside move, slow downside move - This is a pattern I've seen many times. The upside move lasts between a few days to 1 month max but it can take a long time for it to retrace.
That's why it's super important to be early, take profits, and not bag-hold.
🔸 Sure, you can make money by trading $EOS , $NEO, and $ICP .
But if you want to make real money and outperform the market, without ruining yourself with leverage, trading narratives is the best way.
🔸 It's extremely hard to time the leg up. Ape as soon as you are convinced.
🔸 It's not always the newest tokens that outperform:
1/ AI narrative: ChatGPT sent old tokens like Fet, Ocean, Agix. They didn't do anything
2/ Bitcoin ETF narrative: I had almost forgotten about $BCH and $XLM
It's all about the perception of the market and what is priced in!
Now you say, ok that's cool. But how can I catch the next ones?
Don't worry, I've got your back.
Stay ahead of the curve with my exclusive 'Narratives' Dune dashboard. It's updated very regularly👇🏻
dune.com/cryptokoryo/na…
Hope this was useful!
For more insightful content and daily curations, don't hesitate to follow me @CryptoKoryo
If you found value in this thread, kindly support it by liking and retweeting the initial tweet linked below.
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.