AI Token Market Sees 200% Surge in Trading Volume, Crossing $3B

AI Token Market Sees 200% Surge in Trading Volume, Crossing $3B

Over the past six weeks, there has been an outstanding increase in the cumulative weekly trading activities of cryptocurrency projects that focus on artificial intelligence. In a recent tweet, Kaiko, a well-known on-chain analytics firm, disclosed that the trading volume of AI-related crypto assets has been on a sustained surge since mid-October. Kaiko noted that the AI-focused projects leading the pack in trading activities were Render (RNDR), Worldcoin (WLD), and (FET).

According to the chart accompanying Kaiko’s tweet, the trading volume of AI tokens was below $1 billion in the initial weeks of October. However, the weekly trading volume experienced a remarkable increase, surpassing 200% and reaching over $3 billion this month.

(AI-related crypto project weekly trading volume Source: Kaiko)

The chart indicated that early November marked the peak of trading activities in the past four months, where AI token trading volume surpassed $3 billion. However, subsequent to that peak, the volume has fluctuated to within the range of $2 billion to $3 billion.

Notably, the WLD token, the project associated with the CEO of OpenAi, Sam Altman, commanded a significant share of trading activities in recent weeks. The turnout may be attributed to Altman’s reinstatement as OpenAI CEO in the third week of November, after he was briefly ousted.

Moreover, Kaiko’s chart indicated that Worldcoin has led the AI token market since its inception in July. Meanwhile, RNDR competed closely with WLD in the trading activities recorded in October and November.
Similarly, the FET token followed WLD and RNDR closely in the ranking. CoinMarketCap statistics show FET commands a valuation of over $435 million with a market price of $0.5312. Also, information from CoinMarketCap indicated that AI-focused projects collectively boast a market share exceeding $10 billion.

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