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While the overhyped segment of AI cryptocurrencies is underperforming amid growing market optimism, some of its largest cryptos are printing solid gains. The majority of them are low-caps, but one veteran coin of this sphere is also in the green today.
AI crypto giant Injective (INJ) becomes fastest-growing large-cap in segment
INJ, a core native cryptocurrency of Injective, a high-performance programmable L1 blockchain, added over 18% in just 24 hours. Today, on Oct. 23, 2023, its price jumped to a fresh high over $10.55 on major spot exchanges.
For the last time, the price of Injective (INJ) was high in December 2021, shortly after the latest Bitcoin's (BTC) ATH registered over $69,000. As such, the altcoin is racing toward setting a two-year high amid a bearish market.
In recent days, the blockchain scored a number of accomplishments in terms of its DeFi ecosystem growth. Namely, the protocol onboarded its first options infrastructure protocol, non-fungible token aggregator and liquidity bootstrapping tool.
Also, the team of Kava (KAVA) proposed to bring major incentives to increase U.S. Dollar Tether (USDT) usage on Injective. Last but not least, trading for .inj domains kicked off.
The blockchain is also hosting a joint hackathon program with Google Cloud.
Injective (INJ) surpasses $400 million in staking
Also, per its team announcement, the blockchain just smashed through a key staking milestone: now, over $400 million worth of INJ are locked in staking pools.
In general, the tokens labeled as the "Top AI & Big Data Tokens" by CoinMarketCap crypto price tracker are underperforming. While the net capitalization of cryptocurrency markets added 2.7%, AI cryptos prices only increased by 2.4%.
Low-cap altcoins Trustverse (TVT) and GNY (GNY) are the best performers in the AI crypto ranking, with 35% and 30% gains, respectively.