In the last 17 days, the value of artificial intelligence (AI) cryptocurrency assets has soared, with a significant addition of $10.21 billion to their overall market value. This surge aligns with the unveiling of Openaiâs latest innovation, a generative AI-powered application capable of converting text into video.
AI Crypto Assets Skyrocket With Over $10 Billion Added to the Sector in 17 Days
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
AI Cryptocurrency Sector Explodes With 142% Growth Following Openaiâs Sora Reveal
This month, the AI-centric crypto market has experienced unprecedented growth following Openaiâs announcement of Sora, a cutting-edge generative AI platform for text-to-video creation. Although Sora remains unavailable to the public, a range of impressively realistic videos produced by the platform have been showcased, underlining the groundbreaking nature of this technology.
As a result, since Feb. 3, 2024, the AI-based crypto sector has expanded by an impressive 142.79%. Over this period, the AI cryptocurrency market has benefitted from an infusion of $10.21 billion, with numerous tokens witnessing substantial appreciation against the U.S. dollar.
Leading the pack in terms of market capitalization is the token, internet computer (ICP), which has seen a 27.76% increase in value over the past month. ICPâs market valuation has ballooned to $6.34 billion, positioning it as the leading AI token by market value and the 18th largest crypto asset overall.
While ICP experienced a notable 27% increase, other tokens within the AI sector have seen even more dramatic rises over the past month. Bittensor (TAO), ranking second in terms of market capitalization among AI tokens, surged by an impressive 145.38% against the greenback.
Similarly, graph (GRT) enjoyed a 60.42% leap in the same period. FETâs value increased by 63.24%, AGIX soared by 94.78%, and PAALâs value catapulted by 139.4%. RLC witnessed a 67.92% increase in its value, NMRâs valuation surged by 92.53%, and CQT, the tenth-largest AI coin, rose by 37.6% against the U.S. dollar.
While TAO led the top ten in performance over the last 30 days, numerous other AI tokens also enjoyed significant triple-digit rises in their valuations. Specifically, delysium (AGI) witnessed an increase of 224.9%, while bcubeai (BCUBE) soared by a significant 364.54%.
The vast majority of AI tokens have reaped the benefits of these gains throughout the past month and the preceding fortnight. Since the previous year, the sector has seen an exponential rise in value, riding the massive wave of enthusiasm for the broad array of AI technologies that have flourished over the last 12 months. Whether this excitement translates into tangible innovation remains to be seen.
What do you think about the massive growth AI-centric coins have seen over the past 17 days? Let us know what you think about this subject in the comments section below.
