As a seasoned crypto investor with a knack for spotting trends and seizing opportunities, I’ve been closely watching the AI and big data sectors, and I must admit, the past two weeks have been quite exciting. The impressive gains recorded by AI tokens, particularly small-cap assets, have caught my attention, with their market cap soaring to $42 billion.
Over the last fortnight, digital currencies linked with artificial intelligence and large data systems have shown significant growth.
The total value of AI-related cryptocurrency tokens has grown by approximately $13.2 billion since November 5, now standing at around $42 billion, as reported by CoinMarketCap’s data.
In the past week following the U.S. elections, it’s been primarily smaller AI-focused cryptocurrencies that have driven significant growth among top performers in the sector, according to CMC data.
Over the past week, there has been a decrease in the daily trading volume of these tokens, which dropped from approximately $8.9 billion on November 13 to about $5.4 billion by the time this report was written.
Should the wider cryptocurrency market experience a new surge of robust bullish energy, it’s quite possible that the market capitalization of AI-focused altcoins could revisit the $45 billion peak they achieved around mid-March.
As a researcher delving into the realm of AI-focused tokens, I’ve observed that the value of NEAR Protocol (NEAR) has been steadily holding around the $6 level, maintaining a market capitalization of approximately $7 billion.
The market-wide rally
It’s not just AI that has seen gains following Donald Trump’s victory in the U.S. Presidential Election; investors have also shown a significant surge of interest in meme coins, as the wider cryptocurrency market experienced a rally.
Some traders made millions of dollars off of Solana-based meme coins within days.
Reached a record peak of $3.2 trillion on the world’s cryptocurrency market value, with Bitcoin (BTC) exceeding $93,000 for the very first time.
Currently, financial markets are exhibiting signs of cooling down since the excitement surrounding the U.S. election is beginning to diminish. Nevertheless, a significant global event could possibly boost the cryptocurrency market, with many predicting that Bitcoin’s price will surpass $100,000 by 2025.
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2024-11-19 14:13