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Major AI-related tokens have risen significantly in the last 24 hours, positively diverging from the cryptocurrency market.
AI-Related Tokens Lead Crypto Market Surge With Impressive Gains
In particular, native cryptocurrencies associated with SingularityNET (AGIX) and Fetch.ai (FET) showed notable gains, with Fetch.ai (FET) gaining over 6% and SingularityNET gaining 5%.
Known for using artificial intelligence and machine learning to streamline business processes, Fetch.ai has surged significantly, rising over 15% in the past month alone.
CoinGecko data reveals that the AI token market cap has reached an impressive $27.7 billion, registering a significant increase of over 10% in the last 24 hours.
In contrast, the global cryptocurrency market cap experienced a more modest rise, rising 2.6% to $2.45 trillion over the same period.
Others rose, including Render (RNDR), a decentralized platform that empowers artists with access to computing power for generative AI artworks, gaining over 7% in the past day.
Another notable player in the daily rally of AI-related tokens is AIOZ, whose price increased by 4% in the last 24 hours to $0.85.
Over the past seven days, AIOZ's price has increased by an impressive 30%, further solidifying its position as a promising player in the AI token market.
Meanwhile, the GM 30 Index, which represents the top 30 cryptocurrencies, also experienced a notable rise, reaching 131.92, up 2.79% in the last 24 hours.
According to CoinGecko data, Bitcoin dominance is currently 50.6%, while Ethereum dominance is 14.9%, reflecting the enduring influence of these two leading cryptocurrencies amid the market surge driven by AI-related tokens.
*This is not investment advice.