AI Coins Stage Massive Rally Gaining Over 130% amid Bitcoin Resurgence

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As a seasoned investor with over two decades of experience in the dynamic world of finance, I’ve seen trends come and go, but none as captivating as the rise of AI coins in 2024. The sheer potential of these digital assets is undeniable, particularly when you consider their current market share of just over 1% against the mighty crypto titans.

In recent crypto market surges, meme coins have received much attention, but AI coins and Big Data tokens have also experienced a 130% increase in their collective market value over the past five months. Notably, this rally has been reinforced by Bitcoin‘s price surpassing $90,000 to reach a new record high (ATH).

As Bitcoin’s price surge continues, the combined market capitalization of Artificial Intelligence coins and Big Data tokens has rocketed to an impressive $42.1 billion. The top three stars in this field are currently Near Protocol (NEAR), Internet Protocol (ICP), and Render (RENDER).

As investor trust in Bitcoin expands, along with a favorable market atmosphere, and the anticipation of regulatory clarification during the Trump administration, there has been a significant surge in the value of Artificial Intelligence (AI) coins.

In 2024, AI currencies and digital tokens related to Big Data have generally mirrored Bitcoin’s path. The combined market value of this sector peaked at $45 billion in March when Bitcoin reached its previous high of $74,000. Yet, as Bitcoin corrected in the ensuing months, the AI industry suffered a loss of more than 50% of its market value, dropping to a low of $18.5 billion in June.

Courtesy: Coinmarketcap

Despite Bitcoin’s price trajectory reversing in June, the artificial intelligence (AI) coins have been recovering their losses as well. Consequently, the overall industry has regained a market capitalization of approximately $42.1 billion.

The artificial intelligence industry is projected to exceed its past peak of approximately $45 billion, possibly hitting a brand-new record before November comes to an end.

These are some AI-related tokens with a market capitalization exceeding $1 million: The Graph (GRT, $0.22), Bittensor (TAO, $493.9), Artificial Superintelligence Alliance (FET, $1.32), Akash Network (AKT, $4.19), Injective (INJ, $25.15), and Theta Network (THETA, $1.79). Here’s a brief overview of each:

Will AI Coins Get Greater Recognition in the Overall Crypto Market?

In the year 2024, AI Coins experienced a significant surge in popularity, primarily due to the impressive rally witnessed by NVIDIA and other AI companies on Wall Street. This boosted the visibility of the entire AI sector. Nevertheless, with a market cap of $42.1 billion, it constitutes merely 1.36% of the total crypto market capitalization, which stood at an impressive $3.09 trillion.

In addition, the broader cryptocurrency market has demonstrated robustness as Bitcoin maintains its position above $91,000. Notable altcoins such as Solana (SOL), priced at around $246.8 with a 24-hour volatility of 1.8% and a market cap of $116.87 billion, XRP valued at approximately $1.11 with a 24-hour volatility of 1.3% and a market cap of $62.75 billion, and Cardano (ADA) at around $0.74 with a 24-hour volatility of 1.2% and a market cap of $26.45 billion, have experienced significant growth over the weekend, fueling speculation about a potential new altcoin season. Nevertheless, Ethereum (ETH), priced at around $3,136 with a 24-hour volatility of 2.5%, needs to rise further for a comprehensive uptrend in this sector.

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2024-11-19 15:18