Artificial intelligence has had a major impact on the cryptocurrency market in recent years, as in many sectors. The total market capitalization of AI crypto coins more than doubled in less than a month, reaching $25.1 billion.
The market capitalization of AI-powered cryptocurrencies, which doubled in less than a month, is not due to a single factor. There are fundamental driving forces behind the increase. Here’s all we know.
AI crypto coins values are rising
The increase in market capitalization is due to developments in AI technology and the rise of Bitcoin. On the other hand, the six largest AI tokens by market capitalization are:
- Internet Computer (ICP)
- Bittensor (TAO)
- Graphic (GRT)
- Fetch.AI (FET)
- SingularityNet (AGIX)
- WorldCoin (WLD)
Internet Computer (ICP) usage has increased by 13.2% recently as it works on large language models (LLMs).
Bittensor (TAO), a decentralized machine learning network backed by Vitalik Buterin, has increased by 19.91% in recent weeks.
The Graph (GRT), which provides data access to artificial intelligence developers, has gained 20.42% in recent weeks.
Fetch.AI (FET) has increased by 78.96% in recent weeks, helped by a $100 million infrastructure investment and a plan to offer rewards to FET token holders.
SingularityNet (AGIX) has increased 63.95% recently, driven by the Beneficial AGI Summit held in Panama.
WorldCoin (WLD) has fallen 6.19% recently due to the data collection ban in Spain and Elon Musk’s OpenAI lawsuit.
AI trends and investor interest
This rapid growth in the AI crypto sector is also driven by developments such as Anthropic AI’s version 3 of Claude AI, OpenAI’s text-to-video service Sora, and investments in AI research by the US and India.
The recent rise of Bitcoin and general optimism in the crypto market is also fuelling investor interest in AI cryptos.
Final thoughts
The artificial intelligence cryptocurrency sector is expected to grow in the coming months. Those who want to invest in this sector should research the technology and team behind each token and consider the risks.
Featured image credit: Viktor Forgacs / Unsplash
