A.I. Crypto: A Decline in Worldwide Trade Volumes
The AI-based digitalย currency market has experienced a wholeย lotย of downturn since early 2023. Asย ofย now valued at $2.28 billion, it has retreated by approximately $1.72 Billion since February 2023.
Thisย comingย week, eight out of the top 10 AI-focused digitalย currency tokens have suffered losses. Notably, the digital token numeraire (NMR) has plummeted by 37.47% in the past 7 days.
Inย termsย ofย market capitalization, the leading A.I. token, graph (GRT), has declined by 2.62%, while the second- largest A.I. token has seen a 5.46% fall. Nonetheless, two tokens, dkargo and phala network, experienced small gains against the Unitedย States dollar.
Subdued Trade Volumes for A.I. Cryptocurrencies
The overall AI-centric cryptocurrency market has witnessed a collective decline of 5.74% in the lastย week, with a 3.37% dip in theย previousย day. Trade volumes for AI-related digitalย currencies have been particularly subdued throughout August, according to cryptocurrency firm Kaiko.
Compared to the surge in trade volume in January and February 2023, theย present 24-hour trade volume sits at $159.11 Million, a wholeย lotย of decrease from the $1.6 Billion recorded on February 9, 2023.
Hot Take
The decline in AI-based digitalย currencies outlines the volatility of the cryptocurrency market. Althoughย while they atย theย beginning showed promise, the subsequent downturn reminds us of the challenges and uncertainties that come with this ever-evolving digital landscape.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.
