Tokens linked to artificial intelligence (AI) projects are soaring again, riding the bullish wave of the broader crypto market.
Santiment's latest analysis also highlighted a similar trend. The crypto analytics platform's findings revealed impressive growth in the market capitalization of AI and BigData projects.
The market capitalization of AI and Big Data is soaring
In fact, assets like BOTTO, TOKEN, and AGIX are up by impressive percentages over the past week. Despite declining public interest, the overall market capitalization of the top 100 projects in this sector saw a substantial increase of 7.3%.
Santiment also highlighted the absence of FOMO, which essentially suggests a potential for further price increases, signaling a compelling opportunity for investors to closely monitor these developments.
🤖📈 While #crypto has been generally stable in recent days, keep an eye on the continued growth in the market capitalization of projects related to #AI And #BigData.
Some notable assets include:
🪙 $LOW (+87% last week)
🪙 $TOKEN (+87% last week)
🪙 $AGIX (+40% last week)Despite… pic.twitter.com/yWHgGpy8hb
–Santiment (@santimentfeed) March 28, 2024
Data compiled by CoinMarketCap revealed that BOTTO saw over 54% gains in the last week alone, which propelled its price to $1.42. This price action pushed the token to reap over 200% monthly gains.
Another AI-related crypto asset that caught the attention of investors was TokenFi's TOKEN, which recorded over 70% in the past day alone. TOKEN has received a major boost from crypto trading fund DWF Labs to purchase $10 million in assets over a two-year period. This new injection of capital is part of an approach aimed at developing a range of products.
SingularityNET (AGIX) has also seen a similar uptrend, rising over 86% over the past month. It was trading at $1.33 at the time of writing.
The great merger
One of the main catalysts for the growing optimism around these assets can be attributed to the announcement of a merger between three projects: Fetch.AI, SingularityNET and Ocean Protocol.
The trio are among the most prominent players in the web3 and artificial intelligence sectors. As reported CryptoPotatothe collaboration aims to merge Fetch.AI's autonomous AI agents and blockchain framework with SingularityNET's R&D efforts as well as Ocean Protocol's initiatives for data exchange and monetization.
Platforms, whose founders were early adopters of AI, also seek to establish an alternative to big tech's control over the development, use and monetization of AI.
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