AI Crypto Market Cap Soars Over $1 Billion in Less Than Two Weeks Fueled by Bittensor’s Surging Success
In just a span of 12 days, the market capitalization of the AI cryptocurrency sector has seen a significant surge from $6.08 billion to an impressive $7.15 billion. This remarkable growth can largely be attributed to the outstanding performance of bittensor (TAO), which experienced a notable increase of 31.6% against the US dollar in the past week.
The revival of over a billion dollars in the AI-centric crypto economy paints a promising picture for the sector. After experiencing a slump on January 22, 2024, with a market worth of only $6.08 billion, the AI-crypto market has undergone a remarkable turnaround. The current valuation of $7.15 billion reflects an impressive increase of approximately 17.59% in just 12 days. Among AI-focused digital currencies, bittensor (TAO) currently leads the pack with a market capitalization of approximately $2.73 billion.
Bittensor (TAO) stands out as a decentralized machine learning protocol, poised to revolutionize the landscape of machine learning infrastructures. Its recent growth of 31.6% in the past week and an overall appreciation of 61.7% since the beginning of the year against the greenback have solidified its position as the top AI-centric crypto asset.
On the other hand, the graph (GRT), the second-largest AI-dedicated token, experienced a slight decline of 1.66% over the week, while fetch (FET), the third-largest, saw a decrease of 8.88%. GRT operates as an open-source indexing protocol coin, while FET serves as a token for the decentralized machine learning platform, Fetch.ai Network.
Other AI-focused cryptocurrencies that witnessed significant gains this week include iexec rlc (RLC), which spiked by 11.22%, and numeraire (NMR), which ascended by 28.65%. These tokens are playing a vital role in supporting AI-centric projects, applications, and services within the blockchain ecosystem, facilitating transactions, governing protocols, and promoting innovation.
The increasing interest in AI cryptocurrency assets is rooted in the convergence of AI with the cryptocurrency and blockchain industries, creating a unique class of digital assets. Investment predictions suggest that spending on AI could reach trillions in the next decade, further highlighting the growing market fascination with AI crypto assets. Since February 28, 2023, the AI crypto sector has already gained an impressive $3.09 billion in value.
What are your thoughts on the AI crypto sector’s extraordinary growth of over $1 billion in just 12 days? Share your opinions in the comments section below.