AIOZ Network is a DePIN for Web3 AI, Storage, and Streaming, trying to establish a more secure and faster decentralised network for crypto users. AIOZ Network usually rewards users when they share computational resources for streaming digital content and transcoding. Recently, a $28 billion boost within the AI token sector massively contributed to pushing the price of AIOZ to increase by over 200%. Below, we will explore more details about the $28 billion boost, recent collaborations, and price performance.
AI Tokens Sector Valuation Surpasses $28 Billion
According to data from CoinGecko, the market valuation for artificial intelligence tokens has surpassed $28 billion, with more than $1 billion in trading volume. Furthermore, this signifies more than a 4% increase in valuation in 24 hours, with tokens like GPT Protocol, LIZA, and Tokenfi emerging as the top gainers. Apparently, these three tokens increased by over 47%, 43%, and 35%, respectively.
Nevertheless, certain tokens take up a large chunk of the $28 billion valuation in the AI sector. Render emerges as number one with a valuation of over $4.2 billion. Bittensor follows closely with $4 billion, The Graph with over $3.8 billion, and Fetch.ai with over $2.7 billion. AIOZ Network is within the top 10 in the valuation ranking, coming in seventh with a $1.1 billion market cap.
AIOZ Network Price Performance Goes Over 200%
According to CoinMarketCap, AIOZ Network is one of the best-performing AI tokens in the broader crypto market. At press time, the price remained above $1, rising by more than 10% in the past 24 hours. Furthermore, the weekly chart showed more than a 20x increase, with the lowest price at $0.72 and the highest at $1.056.
Moreover, the monthly chart is the highlight with an over 200% surge, beating many other prominent cryptocurrencies like Bitcoin Cash, Near Protocol, and Litecoin. The recent increase doesn’t end at the price as the trading volume received over 100% growth, surging to over $40 million in 24 hours.
AIOZ Network Massive Collaboration with Alibaba
AIOZ Network’s collaboration with one of the biggest companies in the world, Alibaba, emerged as a major contributor to the recent successes of the token. According to a Twitter announcement, AIOZ Network said they will partner with Alibaba Cloud to improve Web3 capabilities. Apparently, this partnership aims to create the DePIN Alliance in Southeast Asia (SEA) to enhance AI, storage, and streaming infrastructure services. Moreover, AIOZ Network will serve as the blockchain lead in Alibaba Cloud’s Innovation Accelerator initiative, offering technological and financial support to selected projects.
The two organisations will nurture innovative businesses in Singapore by facilitating access to cutting-edge infrastructure services. Thus, they will provide access to AI, storage, and streaming technologies. Furthermore, another development within the AIOZ Network was the recent launch of AIOZ W3IPFS. The AIOZ Web3 Interplanetary File System (W3IPFS) will provide solutions to technical complexity and latency faced with its traditional counterparts.
Conclusion
The AI token sector within the crypto market surpassed a $28 billion valuation, providing a boost for cryptocurrencies like AIOZ Network to grow massively. Furthermore, AIOZ surged by over 20% in the weekly chart and over 200% in the monthly, with the market cap increasing to over $1.1 billion. Apparently, its recent collaboration with Alibaba Cloud contributes to the growth, with AIOZ promising to serve as a blockchain lead for cutting-edge AI and streaming technologies. Moreover, time will tell if AIOZ will continue on this bullish price trajectory.
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from cryptonewsbytes.com. So, the author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
