Speculative capital is increasingly moving away from cryptocurrency markets and into emerging technologies such as artificial intelligence and robotics, according to new research from Delphi Digital.
The research firm said stalled progress on United States crypto regulation continues to dampen investor appetite for digital assets across the risk spectrum.
Delphi Digital noted that last year’s weak performance across most altcoin sectors signals that crypto is no longer the default destination for speculative capital.
Crypto isn't just competing with other crypto anymore. It’s competing with every exponential technology narrative vying for speculative dollars.
Delphi Digital said.
The shift highlights how high-risk capital is now chasing narratives with clearer growth trajectories and fewer regulatory uncertainties.
Market data reinforces the trend as Bitcoin fell around 12% over the past year, while the Global X Robotics and Artificial Intelligence ETF rose roughly 13% over the same period.
Altcoins outside the top 10 tokens have performed even worse, declining by more than 30% according to TradingView data.