- AI tokens see massive gains and lead the crypto market in gains.
NEAR remained the largest AI token, but FET and RENDER saw the most gains.
As a seasoned crypto investor with a knack for spotting trends and staying ahead of the curve, I must admit that the recent surge in AI tokens has caught my attention. The massive gains these assets have seen over the past seven days are nothing short of impressive, particularly given the broader market’s lukewarm performance.
In contrast to the wider cryptocurrency sector showing little excitement lately, tokens linked to artificial intelligence have shown remarkable growth. Over the past week, these AI-linked tokens have experienced significant spikes in value, leading to a substantial boost in their collective market value.
It appears that the value of AI-related tokens in the market has significantly increased by multiple billions of dollars, demonstrating a powerful surge of investor enthusiasm and trust.
AI tokens see massive market cap spike
Based on recent figures from CoinMarketCap, it appears that the total value of AI-related tokens in the market has significantly risen during the last week.
Over the past four days, I’ve witnessed a remarkable increase in the market capitalization of my AI-focused crypto assets, moving from around $24 billion to about $32 billion. This significant uptick underscores the robust momentum and heightened investor enthusiasm for projects in the artificial intelligence sector.
The Near Protocol (NEAR) remains at the forefront in the artificial intelligence token sector, boasting a market capitalization approximately equal to $5.5 billion. Over the past week, its value has surged more than 19%.
The Internet Computer (ICP) is similar to NEAR, currently holding a market capitalization of approximately $3.8 billion. In contrast, ICP has seen more moderate growth, with a 9% rise in value during the same timeframe.
Of the leading five AI-related assets, it’s worth noting that the Artificial Superintelligence Alliance [FET] and Render [RENDER] have shown the greatest growth. These standouts have surpassed their peers, indicating a growing level of excitement among investors.
How FET and RENDER rallied other AI tokens
Over the past week, the values of both Artificial Superintelligence Alliance (FET) and Render (RENDER) have soared. FET registered an impressive surge of over 50%, while RENDER saw a gain of more than 30%.
The significant advancements made by FET and RENDER have solidified their roles as the major factors driving the rise in total market value of artificial intelligence-related digital assets.
Examination of the day-by-day pattern for Artificial Superintelligence Alliance (FET) reveals a consistent rise in the value of its AI token over the past week.
In the course of my analysis, I noticed an unexpected deviation during the latest trading session. Specifically, FET experienced a minimal dip of approximately 2.16%. Consequently, its closing price for that day settled at roughly $1.33.
Currently, I’m witnessing a resurgence of positive movement in the market. Specifically, my FET investment is up by more than 3%, reaching around $1.38 at the moment.
At the moment, the market’s momentum continues to be positive, and the token’s Relative Strength Indicator (RSI) hovers near 70, hinting that it may be nearing or already in an overbought state.
RENDER in the last seven days
Render, much like the Artificial Superintelligence Alliance (FET), has played a substantial role in the recent spike in the market value of AI-related tokens. Similar to FET, Render witnessed a series of upward trends prior to a minor halt during the most recent trading day.
During that session, RENDER saw a decline of approximately 2.6%, dropping its price from around $6.3 to $6.1.
Currently, RENDER is still struggling to bounce back following its recent dip and is trading approximately $6.1, indicating another minor setback in its value.
Regardless of the recent dip, RENDER continues to maintain a positive outlook, as its Relative Strength Index (RSI) is currently above 60.
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2024-08-28 08:08