Prominent cryptocurrency data and research firm Messari has released its “Messari Theses 2024” report, which includes the holdings of several Messari analysts. The report reveals the most profitable and most loss-making positions, as well as the tokens currently held and the preferred sectors or concepts.
Overall, Messari analysts have adhered to the predictions and ideas shared in the annual report. They are bullish on Bitcoin and Solana and have a positive outlook on AI tokens. Most analysts hold SOL or related ecosystem tokens, followed by AI concept tokens such as OLASAKTTAORNDR. In the 2024 trend report, Messari is bearish on Ethereum, but most analysts still hold ETH as a beta investment. One analyst, KEl, believes that his biggest loss in 2023 was not selling ETH quickly enough.
Here is a breakdown of the holdings, most profitable positions, most loss-making positions, tokens held, and preferred sectors or concepts for each Messari analyst:
TBI:
Most profitable: GBTC, SOL
Most loss-making: Popular VC coins and why I can’t abandon ZEC?
Tokens held: BTC, ETH, SOL
Preferred: You’re reading this report
Maartje:
Most profitable: RNDR
Most loss-making: Diverging from CRV
Tokens held: BTC, ETH, RNDR
Preferred: DePIN
Dustin:
Most profitable: SOL, OLAS, NOS
Most loss-making: USDC
Tokens held: SOL, OLAS, NOS, LIKE, HBB
Preferred: AI-related cryptocurrencies
Kunal:
Most profitable: RUNE, AKT, TAO
Most loss-making: PEPE
Tokens held: ETH, TIA, RPL, AKT
Preferred: EigenLayer and re-staking protocols. The demand for security is driving the value of L1 assets, and EigenLayer significantly expands Ethereum’s security market.
Sami:
Most profitable: RNDR, AKT, TAO
Most loss-making: Not buying more TAO
Tokens held: BTC, ETH, SOL, HONEY, TAO, RNDR, AKT, LPT
Preferred: DePIN and decentralized AI as killer applications for cryptocurrencies. ZK co-processors will bring crypto applications on par with Web2 applications in functionality and performance.
Ally:
Most profitable: SOL, TIA, RNDR, MKR
Most loss-making: MATIC
Tokens held: SOL ecosystem tokens, memes on Ethereum
Preferred: Networks and applications with relatively less zombie/bot activity, innovation and development trajectory of consumer applications
Steph:
Most profitable: PEPE
Most loss-making: MARBLES
Tokens held: BITCOIN (HPOS10), TIA, ETH, BTC, SOL
Preferred: Infrastructure and memes
Kel:
Most profitable: SOL
Most loss-making: Not selling ETH quickly
Tokens held: SOL, Solana ecosystem tokens, NFTs, LIKE
Preferred: Solana ecosystem projects. Token valuations may be overheated in the short term, but the reality is that most people have only recently become interested in Solana. I expect this group to further enter in the medium to long term.
Seth:
Most profitable: RNDR, SOL
Most loss-making: ALCX
Tokens held: BTC, ETH, SOL, RNDR, LPT
Preferred: Introducing off-chain computing and state to on-chain applications, key management infrastructure.
Toe:
Most profitable: AKT
Most loss-making: HAMS
Tokens held: AKT, TAO, SOL + Solana ecosystem, DYDX
Preferred: DePIN finding product-market fit, Solana protocols and new charts, derivative DEX (VRTX, AEVO, Hyperliquid), ZK co-processors, some DeFi (Ethena Labs, OSMO, SOMM).
Mihai:
Most profitable: RNDR, SOL
Most loss-making: ATOM
Tokens held: BTC, ETH, SOL, RNDR
Preferred: Zero-knowledge machine learning, key management solutions, scaling solutions.
JTVL:
Most profitable: GBTC
Most loss-making: ATOM, not riding the RWA train
Tokens held: BTC, ETH, SNX, PENDLE, LBR, GNS, LINK, LQTY
Preferred: RWAs and LST bringing more on-chain yields, LSTFi and sustainable DEXs as growth areas, especially the latter at reasonable prices. Pricing wealth in Satoshis, embracing store of value.
Nick:
Most profitable: AKT
Most loss-making: SYN
Tokens held: AKT, DYDX, ILV, SYN
Preferred: Mobile applications, EIP-4844, ETH chain abstraction, redirects and LST, and MEME coins related to elections.
Peter:
Most profitable: SOL, Mad Lads
Most loss-making: Boss’s friend.tech key
Tokens held: SOL, BONK, ETH, COIN
Preferred: Solana ecosystem
Red:
Most profitable: COIN
Most loss-making: XMR
Tokens held: BTC, ETH, XMR
Preferred: Alt-VM Ethereum Rollup for capturing Ethereum users and liquidity without being affected by the EVM. Programmability of Bitcoin for developer experimentation and trust-minimized Bitcoin liquidity access. AI-driven DePIN narrative.
Micah:
Most profitable: COIN, PEPE
Most loss-making: LYX
Tokens held: BTC, ETH, SOL, AKT, RNDR, LYX, $COIN
Preferred: ZK processors, sustainable contracts, programmability of Bitcoin, account abstraction.
AJC:
Most profitable: BTC
Most loss-making: Chasing meme coins
Tokens held: BTC, ETH, LINK, ARB, Milady, WINR, GMX, GRAIL
Preferred: SocialFi/Reputation layer (friend.tech), sustainable contracts and on-chain options grabbing market share from CEXs, capital flowing from Ethereum to the Arbitrum ecosystem and other L2s after the Dencun upgrade, ETF approval for BTC and ETH, and GambleFi.
Mike:
Most profitable: BTC.D and Remilia NFTs
Most loss-making: Friend.tech keys
Tokens held: BTC, ETH, SOL, Remilia NFTs
Preferred: New cycle tokens: TAO, TIA, and SOL. Cryptocurrency culture continues to thrive: Remilia NFTs and SocialFi/Gambling/Prediction markets 2.0 (all the same).
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