Rapid Growth in AI-Related Cryptocurrencies
The AI-focused cryptocurrency sector has seen a significant surge in value, with an increase of nearly $2 billion in just under two weeks. One token in particular, bittensor (TAO), has experienced an impressive 86.5% rise in the last fortnight.
AIR Tokens Show Strong Rebound
In the AI crypto landscape, the past month has witnessed strong growth. The top six AI tokens have all seen double-digit percentage increases. TAO leads the pack with a remarkable 207% rise in the last 30 days. fetch (FET) closely follows, with a 46.34% climb, and covalent (CQT) has risen by 41.91% against the U.S. dollar during the same period.
Even graph (GRT) experienced a 35% increase in the past month, while singularitynet (AGIX) saw a 28% rise in value. As of November 17, 2023, the AI-centric crypto economy was valued at $3.32 billion, recovering from a low point of $2.6 billion in July.
Impressive Growth in the Last 12 Days
In just the last 12 days, the sector has grown by an impressive $1.97 billion, largely driven by TAO’s rise from $329 million to $1.297 billion. Cortex (CTXC) has also emerged as a significant player, jumping from the 17th to the 11th position in terms of market capitalization. CTXC’s market value has increased from $37 million to $90.62 million with a 194.12% surge in the past month.
However, not all AI-focused cryptocurrencies have performed well in the same period. Several tokens, including GOC, XMON, NEURONI, ARCONA, AMC, DX, XRT, and ALI, have recorded double-digit declines during the 30-day timeframe.
Hot Take: AI Crypto on the Rise
The AI-focused cryptocurrency sector has shown remarkable growth in recent weeks, with the market value surging by nearly $2 billion. Tokens like TAO and CTXC have experienced significant price increases, contributing to the overall growth. However, it’s important to note that not all AI-related cryptocurrencies have fared well during this period. As the AI crypto economy continues to evolve, investors and enthusiasts should closely monitor these market trends and developments.
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