Recent market data reveals a significant surge in the AI-focused cryptocurrency sector, with its value ballooning by nearly $2 billion in just under two weeks. A major contributor to this growth is the token bittensor (TAO), which soared 86.5% in the last fortnight.
AI Crypto Economy Rebounds Strongly
In the AI-oriented crypto landscape, the past month has been marked by impressive growth. The top six AI tokens have all experienced double-digit percentage increases. TAO leads the pack with a striking 207% rise in the last 30 days. Following closely, fetch (FET) has climbed 46.34%, and covalent (CQT) has risen 41.91% against the U.S. dollar during the same period.
In the past month, the graph (GRT) experienced a 35% increase, while singularitynet (AGIX) witnessed a 28% uptick in its value. As of 12 days ago, on November 17, 2023, the valuation of the AI-centric crypto economy stood at $3.32 billion. This was a recovery to previous levels, achieved over three months, adding approximately $720 million from its July end low of $2.6 billion.
In just the last 12 days, the sector has expanded by an impressive $1.97 billion. This growth is largely attributed to TAO’s rise, escalating from a market value of $329 million on October 29 to today’s $1.297 billion. Cortex (CTXC) also emerged as a significant player in the AI-focused arena, climbing from the 17th to the 11th position in terms of market capitalization.
CTXC’s market value soared from $37 million to a current $90.62 million, following a 194.12% surge this past month. However, not all AI-centric cryptocurrencies fared well over the same period. GOC, XMON, NEURONI, ARCONA, AMC, DX, XRT, and ALI all recorded double-digit declines during the 30-day timeframe.
What do you think about the AI crypto sector’s recent rise? Share your thoughts and opinions about this subject in the comments section below.
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