NEAR and ICP having excellent performances in the crypto market served as a major factor behind the recent growth of the AI tokens sector. According to CoinGecko data, the valuation of these AI tokens increased to over $29 billion at one point. In this article, we will explore how NEAR and ICP contributed to this massive growth in value.
NEAR $6 Billion Inflow to AI Tokens
Near Protocol (NEAR) is having an impressive price performance in the crypto market, leading to the resurgence of AI tokens. According to data from CoinMarketCap, it emerged as one of the most profitable tokens in the past year. In the past seven days, there’s been a growth of over 20%, with the price appreciating from less than $5 to more than $6. Indeed, the price reached its peak at $6.5 with the lowest price being $4.6.
There’s also an incredible rise in the monthly data, with an over 33% increase that saw the price increase from its low of $3.9 to more than $6.57. Within the 3 months, it recorded a 10% surge, with a huge price difference between its peak of $8 to a low of $3.8.
Internet Computer (ICP) $4 Billion Addition
Internet Computer (ICP) comes second as one of the top cryptocurrencies keeping the interest of investors in AI tokens. It currently reached a $4 billion market valuation despite having less than $3.5 billion a week ago. Apparently, this reflects the positive effect of the Bitcoin price increase on the broader crypto market.
In the past seven days, it recorded over 20% growth in price, moving from its lowest price of $6.7 to over $10.5. Moreover, within the 3 months 22% increase, the market cap moved from a low of $2.6 billion to $4.9 billion. However, it is quite important to point out some of the massive decreases with ICP. In the last 3 months, there’s been a decline of over 29%, while the YTD growth is also negative with over 25%.
General Outlook of AI Tokens in the Crypto Market
The AI tokens sector within the crypto market is growing rapidly, moving from having less than $15 billion valuation in the past few weeks to over $29 billion. Moreover, the trading volume of this classification of cryptocurrencies is now at $1.3 billion, indicating increasing investor interest. Nevertheless, it is important to point out some of the tokens behind this recent growth. Already, we mentioned Near Protocol and ICP as the leading candidates. However, FET and Render are also major factors behind the recent growth, with $3 billion and $2.5 billion market cap, respectively. Other important mentions include BitTensor, The Graph, Akash Network, and AIOZ Network.
Conclusion
AI tokens are having a resurgence in the crypto market, with Internet Computer and Near Protocol leading the lines. Within the past few days, there was an increase in their market valuation with each of them seeing a $6 billion and $4 billion addition, respectively. Moreover, in the last seven days, their price has grown by over 20% each. Apparently, this caused the whole AI tokens sector’s valuation to increase from less than $24 billion to over $28 billion. Other contributors to this feat include FET, Akash Network, AIOZ Network, and many others.
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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. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
