AI Crypto Sector Thrives Amid Market Downturn, Economy Boosts by $7.54B in 30 Days

Despite a widespread downturn in cryptocurrency markets, artificial intelligence (AI)-based tokens have attracted billions of dollars in additional investment. Over the last month, the AI-focused cryptocurrency sector has expanded by $7.54 billion, with four out of the top five AI tokens experiencing notable gains since Feb. 20, 2024.

Rapid Growth in AI Cryptocurrency Market: Total Value Soars to $24.9 Billion, Bittensor, Graph, Fetch, and Singularitynet Lead Surge

The AI cryptocurrency market is on an upward trajectory, with the total value of AI-based cryptocurrencies reaching $24.9 billion. This represents a significant increase from approximately $17.36 billion just 30 days ago, highlighting a substantial addition of $7.54 billion to the sector.

While the leading AI token by market capitalization, internet computer (ICP), experienced a 4.46% decline since Feb. 20 and a 12.22% drop over the past week, other top tokens displayed remarkable advancements:

• Bittensor (TAO) ascended by 13.01% against the U.S. dollar in the last 30 days.
• Graph (GRT) saw an impressive increase of 66.8%.
• Fetch (FET) astonishingly rose by 169.5% during the same period.
• Singularitynet (AGIX) registered triple-digit gains, escalating by 109.17% against the U.S. dollar.

Diverse Performance Among AI Cryptocurrencies: Ocean Protocol, 0x0ai, Delysium Surge, Sleepless AI and Chaingpt Decline, Ime Lab and Bcubeai Lead Extreme Moves

Other tokens also made notable strides, including Ocean Protocol (OCEAN) with a 72.96% increase, 0x0ai (0X0) rising by 124.68%, and Delysium (AGI) soaring by 211.64% over the month. However, Sleepless AI (AI) experienced a 14.1% decline, while Chaingpt (CGPT) dropped by 6.31%.

The standout performer was Ime Lab (LIME), skyrocketing by 1365%. Conversely, Bcubeai (BCUBE) witnessed the most significant downturn, falling by 50.03% since Feb. 20, 2024.