As Bitcoin attempts to hold onto psychological support at $22,000, the crypto AI sector has moved past yield farming to outperform Bitcoin with gains of over 12% in the past 24 hours.
The total market capitalization of the AI sector is currently $4.08 billion, with a volume of $838 million in the last 24 hours.
Data feed aggregator The Graph leads the industry with a market capitalization of $1.42 billion, while SingularityNET posted the biggest gains, up 16.2% in 24 hours.
The move came as Bitcoin’s volatility spiked throughout February 14, bouncing between $21,572 and $22,322.
Earlier in the day, the best performing sector was yield farming. However, as Bitcoin has recovered, the AI sector has also grown, suggesting a stronger correlation between AI and Bitcoin than between Bitcoin and yield farming.
The total market capitalization of the yield farming sector is currently $5.13 billion, with a volume of $869.79 million in the last 24 hours. DeFi protocol Uniswap leads the industry with a market capitalization of $4.85 billion, while Trader Joe saw the most substantial gains, up 4.15% in 24 hours.
Over the past 24 hours, BTC is up 1.91% at press time when valued in dollars. However, the major cryptocurrency does not appear to dominate the market as UNI is up 1.46% against Bitcoin over the same period.