NFTs

AI Tokens Outperform As Crypto Markets Continue To Post New Highs

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The combined capitalization of AI tokens is up 800% in four months.

Tokens from projects seeking to position themselves as part of the booming artificial intelligence sector have been soaring.

Archived data from CoinGecko shows the combined capitalization of AI tokens surging nearly 800% from $3.18 billion on Oct. 28 to $28.2 billion today.

Four of the five largest AI tokens by market cap from four months ago remain ranked among the sector’s top five. Render (RNDR), the sector’s top token, is up 412% over the same period, while Fetch.ai (FET) rallied 708%, SingularityNET (AGIX) gained 456%, and Akash Network (AKT) jumped 540%.

Data published by Bitget, the tenth-ranked centralized exchange by trade volume in 2023, shows a 400% increase in AI token trade volume during February. The report also found a 77% increase in the average market cap of projects listed in Bitget’s “AI zone” alongside 80% growth in the number of active AI token traders.