Tokens linked to artificial intelligence (AI) projects are once again soaring, riding the bullish wave of the broader crypto market.
The latest analysis by Santiment also highlighted a similar trend. The crypto analytic platform’s findings revealed an impressive growth in the market cap of AI and BigData projects.
AI and Big Data Market Cap Soars
In fact, assets like BOTTO, TOKEN, and AGIX have surged by impressive percentages over the past week. Despite waning crowd interest, the overall market cap of the top 100 projects in this sector has seen a substantial increase of 7.3%.
Santiment also highlighted the absence of FOMO, which essentially suggests a potential for further price surges, signaling a compelling opportunity for investors to monitor these developments closely.
While #crypto has been mainly flat the past few days, keep an eye on the continued market cap growth of projects related to #AI and #BigData.
Some notable assets include:
$BOTTO (+87% in past week)
$TOKEN (+87% in past week)
$AGIX (+40% in past week)
Despite… pic.twitter.com/yWHgGpy8hb
— Santiment (@santimentfeed) March 28, 2024
Data compiled by CoinMarketCap revealed that BOTTO has clocked in over 54% gains over the past week alone, which has catapulted its price to $1.42. This price action has pushed the token to rake in more than 200% in monthly gains.
Another AI-linked crypto asset that captured the attention of investors was TokenFi’s TOKEN, which witnessed over 70% in the past day alone. TOKEN received a major boost from the crypto trading fund DWF Labs to buy $10 million of the asset over a two-year period. The fresh capital infusion is part of a move to develop a suite of products.
SingularityNET (AGIX) also witnessed a similar uptrend rising by more than 86% in the past month. It was exchanging hands at $1.33, at the time of writing.
The Big Merger
One of the biggest catalysts for the rising optimism around these assets can be attributed to a merger announcement between three projects – Fetch.AI, SingularityNET, and Ocean Protocol.
The trio are some of the most prominent players in the web3 and artificial intelligence sectors. As reported by CryptoPotato, the collaboration aims to merge Fetch.AI’s autonomous AI agents and blockchain framework with SingularityNET’s R&D efforts alongside Ocean Protocol’s initiatives for data exchange and monetization.
The platforms, whose founders were early adopters of AI, also seek to establish an alternative to Big Tech’s control over AI development, use, and monetization.