The Rise of AI-Related Coins in 2024

The Rise of AI-Related Coins in 2024

In 2024, the world of cryptocurrency has witnessed a significant rise in the value of AI-related coins. These digital assets, powered by Artificial Intelligence (AI) technology, have demonstrated an impressive performance with a combined return of 76% since the beginning of the year. The market for AI coins has experienced a 7% increase in a single day, pushing the market cap to a staggering $19.8 billion within just 24 hours.

Renowned entrepreneur and Bitcoin investor Lark Davis highlighted the exceptional performance of AI coins in 2024. Among the top-performing AI tokens are Worldcoin, Fetch.AI, and SingularityNET, which have all experienced significant surges in recent weeks, contributing to the bullish trend in the market for AI-based coins.

Worldcoin, a revolutionary project aiming to create a vast identity and financial network with a billion users, has witnessed an impressive bull run in the last four weeks. The WLD token reached an all-time high of $9.449 on February 25, marking a remarkable 222% surge. However, the momentum was disrupted by a lawsuit filed by Elon Musk against OpenAI.

On the other hand, SingularityNET’s AGIX token is steadily inching closer to the $1 milestone on the weekly chart. With five consecutive weeks of positive growth, the coin has surged by 218.5% in the last month, trading at $0.85 as of today.

Fetch.AI’s FET token is also experiencing a significant bullish trend, currently trading at its all-time high of $1.66 on March 1. The coin saw a 191% increase over the last month, positioning itself as a strong player in the AI coin market.

According to data from CoinGecko, some of the largest gainers in the AI coin market include Balance AI, Octavia, and Chacedot, with gains of 31.1%, 36.8%, and 26.4% respectively in the last day. The surge in AI coins has been attributed to the successful launch of OpenAI’s Sora and the announcement of multi-trillion dollar raises by Sam Altman. Furthermore, NVIDIA’s impressive earnings have added a substantial $272 billion to its market value in just one day, positively impacting the AI crypto market.

In contrast, while AI-related coins have been thriving, top meme coins have experienced fluctuations in their value over the last few weeks. Despite a 30% decline from its peak, Bonk (BONK) rallied by over 100% in February, recovering losses from January. Shiba Inu (SHIB) and Dogecoin (DOGE) have also seen notable gains, rising by nearly 40% and 45% over the past week, respectively, contributing to an 8% rise in the meme coin market, which has reached a market cap of $33.6 billion.

The rapid surge in meme coins has also led to substantial gains for newly emerging meme tokens such as Baby Shiba Inu and Turbo, which have experienced spikes of over 100% in value just this week. Despite the fluctuations in the crypto market, the rise of AI-related coins in 2024 signifies a growing interest and investment in the potential of Artificial Intelligence technology within the realm of digital assets.

Crypto

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