AI token boom: 131% rise amid bitcoin rally

AI token boom: 131% rise amid bitcoin rally

The cryptocurrency market is experiencing an exciting time, especially when it comes to projects focused on artificial intelligence and big data. These tokens, which have seen a staggering 131% increase since June, are approaching all-time highs in the wake of bitcoin's recent success. Investors are once again beginning to turn to these advanced technologies, underscoring the growing confidence and positive market sentiment.

As of November 19, the total market capitalization of artificial intelligence and big data tokens reached $42.13 billion, with projects such as Near Protocol, Internet Computer (ICP) and Render (RENDER) standing out among the major players. As data from Cointelegraph Markets Pro and CoinMarketCap shows, this positive trend is a result of both bitcoin's growth momentum and a clearer regulatory landscape in many jurisdictions.

AI token market capitalisation recovery

After an unfavorable period at the beginning of 2024, when the AI token market reached its peak of $44.99 billion and then plunged to $18.21 billion by June 8, the situation has changed considerably. In the six-month period that followed, the market regained its value and showed healthy signs of recovery with a current market capitalization of $42.13 billion. As we approach the end of November, it is expected that it could even be headed to surpass its all-time high of US$44.99 billion.

Other tokens with market capitalizations above $1 million include Bittensor (TAO), Artificial Superintelligence Alliance (FET), Injective (INJ), The Graph (GRT), Theta Network (THETA) and Akash Network (AKT).

An environment with huge potential

According to CoinMarketCap, the total market capitalization of the entire cryptocurrency market is estimated at $3.09 trillion. This means that AI tokens currently represent only 1.36% of this amount, suggesting huge opportunities for future growth and expansion in this market segment.

Also of interest is the historic milestone on November 10, when Ethereum surpassed Bank of America's market capitalization of around $383 billion. This move is further evidence of the growing importance of decentralised finance and crypto assets, which are increasingly attracting investor attention.

This rise of AI tokens in the context of the bitcoin boom suggests that investors are increasingly concerned about advanced technologies and their synergy with the cryptocurrency economy, paving the way for further innovation and opportunities in the crypto world.

*This is not investment advice.

Coingarage team