AI Cryptos Bloodbath: Cap Sinks But Leaders Stay Strong

AI Cryptos Bloodbath: Cap Sinks But Leaders Stay Strong

As the brilliant ETF-fueled cryptocurrency rally takes a breather, the thriving AI cryptocurrency segment is among those suffering the most. While almost all micro and small cap companies are in the red, some assets manage to capitalize on other trends.

As the brilliant ETF-fueled cryptocurrency rally takes a breather, the thriving AI cryptocurrency segment is among those suffering the most. While almost all micro and small cap companies are in the red, some assets manage to capitalize on other trends.

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AI Crypto Market Down Today, Cap Drops Below $20 Billion

The net capitalization of the AI/ML and Big Data cryptocurrency segment on CoinMarketCap lost more than 6.8% in the last 24 hours. The gauge fell to a multi-week low of $19.4 billion. Cryptocurrencies with a capitalization of less than $100 million suffered the worst, according to the data.

AI cryptocurrencies lost almost 7% in capitalization
Image by CoinMarketCap

All of the largest AI cryptocurrencies, including Internet Computer (ICP), Injective (INJ), and Render Network (RNDR), are also in the red, but with less painful losses.

At the same time, other mid-cap companies, Theta Network (THETA), Bittensor (TAO), and The Graph (GRT), soared between 2% and 3% in the last 24 hours.

Meanwhile, the “classic” AI cryptocurrencies that went mainstream during the AI ​​frenzy of 2023 are doing well. Numeraire.AI (NMR) and iExec RLC (RLC) rose 21%, while Akash Network (AKT) added 10% overnight.

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Top AI Cryptocurrencies to Watch in 2024

Akash Network (AKT) also became the best performer among CMC’s top 100 cryptocurrencies by market capitalization.

The aggregate market capitalization of all cryptocurrencies lost 3.38% and fell below $1.6 trillion, according to data from CoinMarketCap.

This AI coin rises 60% after the “oracle rally”

At the same time, IA’s veteran cryptocurrency DIA, the main asset of the Web3 oracle platform of the same name, added almost 60% and jumped to levels not seen since the fall of Terra/Luna in May 2022.

The token is affected by the growth of other oracle-associated currencies. For example, Chainlink (LINK)’s main rival, API3, almost doubled its price in the last 24 hours, while Uma (UMA) tripled yesterday.

Following the announcement of an anti-MEV solution, the price of UMA jumped from $1.9 to $6.3, but then retreated slightly.

Segment heavyweights Chainlink (LINK) and Band Protocol (BAND) are also in the green.

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