AI Tokens Surge by $8B in Week, Led by NEAR, ICP
The Bottom Line
Last week, AI tokens in the crypto market made an impressive performance, recording a value increase of 8 billion dollars. While the overall crypto market showed rather subdued movements, AI-related tokens stood out with significant price increases. In particular, NEAR and ICP led the upward trend, with FET and RENDER recording particularly strong gains.
Market Capitalization of AI Tokens Explodes
The market capitalization of AI tokens has risen by billions of dollars in just seven days. According to current data from CoinMarketCap, the market capitalization of these specific tokens has increased from about 24 billion dollars to around 32 billion dollars. This increase underscores the strong momentum and growing investor interest in AI projects. NEAR Protocol (NEAR) remains the leading AI token with a market capitalization of around 5.5 billion dollars, followed by Internet Computer (ICP) with a market capitalization of about 3.8 billion dollars.
FET and RENDER Lead the Upswing
The Artificial Superintelligence Alliance (FET) and Render (RENDER) tokens have seen particularly impressive value increases in the last week. FET recorded an increase of over 50%, while RENDER was able to gain more than 30%. These significant gains have made FET and RENDER the main drivers of the overall increase in the market capitalization of AI tokens. Despite a slight decline in the last trading session, the trend for these tokens remains positive, with a consistently strong momentum.
Our Assessment
The recent performance of AI tokens in the crypto market is a clear sign of growing interest and confidence in AI-related projects. In particular, the outstanding gains of FET and RENDER could lead investors to expand their portfolio with AI tokens. Given the ongoing trend and strong momentum, these tokens could continue to show above-average performance compared to the rest of the crypto market. However, investors should always keep an eye on the market’s volatility and carefully weigh their investment decisions.
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Sources: CoinMarketCap, TradingView
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