Market Times:


New York:


Top 5 Decentralized Science (DeSci) Coins to Watch in 2024

These top DeSci-based crypto assets are worth watching out for this year. 

Top 5 Decentralized Science (DeSci) Coins to Watch in 2024

The Decentralized Science (DeSci) sector is gradually gaining momentum in the crypto space. The new niche aims to improve scientific research, innovation, collaboration, and data by making them open or more decentralized using Web3 technology.

Similar to Defi, DeSci is another avenue to make massive profits. One way is holding its tokens. This article dives deeper into some of these Decentralized science coins and predicts how they will perform this year (2024).

Notably, the following information is not to be construed as investment advice. Investors must do their own research and assume full responsibility for their investment decisions.

Top Five Decentralized Science (DeSci) Coins for 2024

1. OriginTrail (TRAC)

OriginTrail brands itself as a trusted knowledge infrastructure for artificial intelligence. It claims to address the misconceptions and misinformation relating to AI while increasing the visibility of the ‘world’s most important knowledge and real-world assets.’

TRAC is the native coin of this ecosystem and has continued its bid to climb up the market cap ranks since 2021, when it was first introduced to the market. Currently having a circulating supply of over 400 million and trading at $0.97, it has a market cap of $396 million and is the largest DeSci coin.

It continues to gain more widespread recognition with its partnership with institutes like the British Standards Institution, SCAN, Polkadot, Walmart, and Oracle. Additionally, it garnered several listings on crypto exchanges like Coinbase, Kucoin, HTX, and Uniswap.

Following all these listings and partnerships, the coin will look to leverage them to effect notable changes in price. However, the current price is showing a notable decline. TRAC has not fully recovered from dips that rocked the crypto market last week.

On the weekly scale, the bears are edging as the Moving Average Convergence Divergence indicates further price decline. The 12-week EMA is in the process of a bearish divergence as it’s in contact with the 26-week EMA. Additionally, the Relative Strength Index is at 57.

Using the Fibonacci retracement to draw supports and resistances, the asset will retest $0.84. If it fails, the Desci coin will retrace to $0.62. A drop to this level will result in the RSI dropping below 40, which will result in an uptrend.

Nonetheless, price movements are currently printing a bull flag. It is an indication of an impending change in price trajectory. The candlestick pattern of a hammer is a sign this change is near.

The bulls will look to push the coin as high as $2.

2. Hippocrat (HPO)

Formerly Humanscape, Hippocrat is a decentralized patient network based on blockchains. The project groups patients with similar diseases into a community to help them share intellectual and emotional interaction.

HPO has a max supply of 1.08 billion and a circulating supply of over 993 million. It currently has a market cap of over $81 million, making it the second-largest DeSci. Helping maintain this value is its various listings on exchanges like UPbit and Coinone.

The project is looking to gain more listings on other major trading platforms, which could boost prices and propel it to a new high. As of 2024, it surged to a high of $0.13, which is more than 80% lower than its all-time high. This also marked the first time it attained this level in more than a year.

At the time of writing, the asset is edging to its lowest this year. Before the most recent milestone, it traded at a low of $0.061. The current downtrend may send HPO trading as low as this mark as several market indicators predict further price declines.

On the other hand, when the uptrend resumes, the coin will exceed its current 2024 high. It will exceed $0.20 as the bulls set their sights on advancing to its ATH.

3. ResearchCoin (RSC)

Like every DeSci, Researchcoin is a native token of ResearchHub, which claims it is accelerating the pace of science. It aims to create a mobile and web applications like Github to help people collaborate on scientific research more efficiently.

The coin is currently trading on Coinex with a circulating supply of 93 million of its 1 billion max supply. With a market cap of $63 million, it is the third largest of its kind. Nonetheless, reports showed that the coin saw a reduction in its trading volume over the last 24 hours as it majorly traded on Coinex.

During its first major listing on the platform, the coin surged to a high of $0.92 but retraced. Eight days ago, it returned to this level and registered a new all-time high of $0.95. Being a fairly new asset to the crypto market, it is looking to attain a higher ATH.

Currently trading at $0.59, it will see more price decline. The Moving Average Convergence Divergence is pointing to further price decreases as it is yet to recover from its bearish divergence that took place three days ago. RSI is also placing the sellers at a huge advantage as it dipped below 50.

From all indications, the asset may retrace as low as $0.35. However, based on the previous price movement, RSC is set for a more than 150% surge once the uptrend resumes. This will mean a new ATH above $1.20, making RSC one of the top decentralized science coins for investors to watch.

4. VitaDAO

VITA is the governance token for VitaDAO, a project that focuses on funding longevity research through building and marketing intellectual property in the field.

It currently has a circulating supply of over 25 million out of its max supply of 64 million. It also has a market cap of over $61 million. Over the last few months, it garnered some listings from major exchanges like CoinEx and Uniswap.

Data shows that it lost more than 6% of its value over the last 24 hours. As a result, it is trading at $2.47, 41% below its ATH at $4.80.

Indicators point to the continuation of this downtrend. One such is MACD. The metric shows that a bearish divergence took place during the previous intraday session. To this effect, the RSI is at 41, giving the bears more advantage.

A closer look at the daily candles suggests that the bulls are unable to sustain a surge as the sellers quickly take profit when the asset reaches a high. In correlation to RSI, this trend will continue as the metric shows that the coin is set to see more decreases.

On the weekly chart, the $2.40 support remains the last tough one. A flip will result in VITA trading as low as $1.

Nonetheless, the asset may attempt to return to its ATH within the next five months, making it a top pick among DeSci coins to watch this year. It may surge as high as $5.

5. Dynex (DNX)

Dynex is a ‘DePIN platform for neuromorphic quantum computing’ based on a new blockchain protocol. It uses Proof-of-Useful-Work (PoUW) for mining that constitutes a decentralized n.quantum computing network.

This DeSci coin has more than 87 million tokens for its circulating supply trading on MEX, CoinEx, and many other exchanges. It also boasts a low max supply of 110 million and a market cap of over $44 million, making it the fifth largest DeSci.

The DNX/USDT pair currently has an ATH of $1.36, which is more than 60% higher than its current price. Currently trading at $0.51, it is exchanging at its lowest value since 2023. However, there are indications of further price declines.

After breaking the $0.60 support, the next critical level is at $0.36. MACD suggests a likely drop to this region as the 12-day EMA continues to nosedive with no relief in sight. Tracking platforms point to a gradual decline in trading volume as a possible catalyst for this drop.

However, short-term relief is on the horizon, as the RSI in the 1-day timeframe is 30 and would go below it if the downtrend continues, making the asset oversold. Nonetheless, following the small uptrend, the weekly chart suggests room for more decline.

On the other hand, DNX is set for a more than 150% surge from its current price. Based on previous uptrends, the coin will look to surpass its ATH.

Gideon Geoffery