While the crypto market’s overall capitalization has only ticked up by 0.28% over the past day, reaching $2.19 trillion, the artificial intelligence (AI) crypto economy has made more noticeable gains, climbing 5.4% to hover above the $29 billion mark.
AI Cryptos Spike as Broader Market Stays Flat, Sector Nears $30B Milestone
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AI Crypto Sector Jumps 5.4% to $29B
On Monday, while the broader crypto market saw a modest uptick from the previous day, AI-focused cryptocurrencies took a sharper leap. As of press time, the top AI digital assets hold a total value of $29,066,685,612, representing about 1.33% of the total $2.19 trillion crypto economy. Leading the AI crypto pack, near protocol (NEAR) surged by 6.6%, bringing its market valuation to $5.76 billion.
Right behind NEAR is bittensor (TAO), the second-largest AI-focused digital currency, which climbed 4.4% on Monday. Grayscale’s AI fund has also seen TAO shine, making it the top AI crypto held by weight. As of Oct. 7, Grayscale‘s data shows TAO commanding a leading weight of 29.55%.
Another player in the space, artificial superintelligence alliance (FET), rose 3.1% against the U.S. dollar on Monday. Notably, FET overtook internet computer (ICP) on Monday, just after TAO had flipped it at the end of September. ICP, meanwhile, dropped 2.3% over the past day. FET’s current market valuation stands at $3.933 billion, while ICP trails slightly behind at $3.908 billion as of Oct. 7.
Among the top AI sector gainers today were ENQAI, soaring 37.4%, MOCK with a 25.7% rise, and SNS up 22.1%. With the AI crypto market now sitting at $29.06 billion, it’s just $933,314,388 away from hitting the $30 billion milestone. The AI digital currency space has made tremendous strides in 2024, outpacing many other sectors this year.
What do you think about the AI crypto sector’s gains on Monday? Share your thoughts and opinions about this subject in the comments section below.
