AI Cryptocurrency Assets Soar, With Over $10 Billion Added in Just 17 Days
This month, the launch of Sora by Openai—a state-of-the-art generative AI platform for text-to-video creation—has led to an unparalleled surge in the AI-focused cryptocurrency market. While Sora is still not available to the general public, the platform has released a number of remarkably lifelike movies that highlight how innovative this technology is.
Consequently, the AI-based cryptocurrency industry has grown by an astounding 142.79% since February 3, 2024. The AI cryptocurrency market has received $10.21 billion in funding over this time, and many tokens have seen significant increases in value relative to the US dollar.
The token known as internet computer (ICP), which has seen a 27.76% gain in value over the last month, is leading the field in terms of market capitalization. With a market worth of $6.34 billion, ICP is now the most valuable AI token and the 18th largest cryptocurrency overall.
Even while ICP had a significant 27% growth, other AI-related tokens saw even more sharp increases in value over the previous month. The market value of AI tokens that ranks second, Bittensor (TAO), increased by a remarkable 145.38% versus the US dollar.
In a similar vein, graph (GRT) saw a 60.42% increase throughout that time. Values for FET, AGIX, and PAAL surged by 63.24%, 94.78%, and 139.4%, respectively. The value of NMR increased by 92.53%, RLC had a 67.92% increase in value, and CQT—the tenth-largest AI coin—saw a 37.6% increase in value relative to the US dollar.
Although TAO topped the performance chart for the past 30 days, the prices of many other AI tokens saw notable triple-digit increases as well. In particular, bcubeai (BCUBE) increased by a noteworthy 364.54%, but delysium (AGI) had an increase of 224.9%.
Over the course of the last week and two weeks, the great majority of AI tokens have profited from these developments. The industry has had an exponential increase in value from the previous year as a result of the widespread excitement surrounding the wide range of AI technologies that have grown over the past 12 months. It remains to be seen if this enthusiasm results in real innovation.
How do you feel about the enormous surge in value that AI-focused coins have experienced in the last 17 days? Please share your thoughts on this topic in the space provided for comments below.
