In this dynamic landscape of cryptocurrencies, AI-related tokens are gleaming by overpowering all the major market players within the last 24 hours. In the case of SingularityNET and Fetch.ai—both leading AI projects—their tokens have seen over 15% increases in the last month. Most interestingly, these tokens have seen a $27.7 billion market cap, which in the last 24 hours surged to 10%.
This has put the cryptocurrency market cap at an overall of $2.45 trillion at the same period. Such a contrast is to bring out the specific strength of AI-related coins that are not simply following but leading the market trends. Among the top ten AI tokens, only one of them has experienced a slight decrease, whereas there are others, like the native token of Render, a platform that helps artists with AI-driven rendering, which has experienced an increase of over 7%.
Moreover, another major AI token, AIOZ, was up by 4% over the day, translating to a 30% gain over the week. Other AI tokens, including Akash Network, The Graph, Golem, and Arkham, notched up double-digit gains over the same period, signaling solid growth in the segment.
In contrast, traditional heavyweights like Bitcoin have been picking up in value, and at the time of writing, the price is back above $63,000, more than 3% in the past day. Yet, Bitcoin’s dominance index tells a completely different story: it stands at 50.6%, meaning that despite being an influential player, the rapid rise in AI tokens changes investor interest and market configuration.
The excitement around AI tokens is a part of a bigger excitement around technological developments and their integration into blockchain technology. The more applications the projects based on AI develop and broaden, the more opportunities for novel use and further promise for those seeking to invest in a new layer of crypto innovation.
