A Resounding Growth In The Sphere Of AI-Based Cryptocurrencies
The cryptocurrency market dedicates to AI has encountered an extraordinary jump in its worth, amassing approximately $2 billion in less than a couple of weeks. The primary reason behind this burgeoning expansion can be primarily attributed to the token named bittensor (TAO), marking an elevation of staggering 86.5% in the recent two weeks.
Revival Of AI-Based Crypto Economy
In the past month, the AI-specific crypto world has observed a remarkable ascension. The leading six AI tokens experienced a respective increase in their value by double digits in percentage. The most impactful growth was achieved by TAO, showcasing a remarkable hike of 207% in the preceding 30 days. Closely following were fetch (FET) and covalent(CQT), surging by 46.34% and 41.91% respectively, against the U.S. dollar over the same span.
The past thirty days have also seen a considerable rise in the graph (GRT) and singularitynet (AGIX), witnessing an increase of approximately 35% and 28% in their respective values. As of a dozen days ago, specifically on 17th November, 2023, the value of the AI-focused crypto economy was found to be $3.32 billion. This was considered a significant rebound after adding nearly $720 million from the low of $2.6 billion at the end of July, achieved over three months span.
In the recent 12 days alone, the sector experienced a remarkable inflation, adding $1.97 billion. This significant growth can be primarily attributed to the surge of TAO, expanding from a market value of $329 million in late October to a whopping $1.297 billion at present. Another major influencer was Cortex (CTXC), which visually jumped from the 17th position right up to the 11th in terms of market capitalization.
The market value of CTXC made a leap from $37 million to its current worth of $90.62 million due to a massive 194.12% elevation over the past month. That being said, not every AI-focused cryptocurrency was able to capitalize over the 30-day period, with GOC, XMON, NEURONI, ARCONA, AMC, DX, XRT, and ALI experiencing a decline by double digits during the said timeframe.
Leveraging Our Ethereum Code App For This Trend
Keeping an eye on the ever-increasing AI-centered cryptocurrency market is Ethereum Code. Our application sends real-time updates and signals to traders, allowing them to capitalize on the market trends. As AI-based cryptocurrencies continue to rise, Ethereum Code helps investors maximize their profits by providing them with strategies on when to buy or sell their tokens based on accurate and timely market analysis.
With the user-friendly Ethereum Code application at your disposal, one can effectively navigate the volatile crypto waters and potentially experience significant return on investments. Particularly in the continuously expanding AI sector, utilizing a reliable trading platform like Ethereum Code could prove crucial for success.
Frequently asked Questions
1. What factors contributed to the rapid growth of the cryptocurrency niche in AI?
The rapid growth of the cryptocurrency niche in AI can be attributed to various factors such as increasing interest from investors, advancements in artificial intelligence technologies, and the potential for high returns in cryptocurrency investments.
2. How does artificial intelligence benefit the cryptocurrency industry?
Artificial intelligence brings numerous benefits to the cryptocurrency industry, including improved trading algorithms, enhanced security measures, efficient data analysis, and predictive modeling, which can help investors make informed decisions and optimize their trading strategies.
3. Are there any risks associated with the intersection of cryptocurrency and AI?
While the cryptocurrency niche in AI offers promising opportunities, there are risks involved. These include the volatility of the cryptocurrency market, potential security vulnerabilities in AI systems, and the ethical implications of using AI in cryptocurrency trading.
4. How does the growth in the cryptocurrency niche impact the development of AI technologies?
The growth in the cryptocurrency niche drives innovation and development in AI technologies. It fosters the creation of advanced machine learning algorithms, data analysis tools, and security measures, which can be applied not only to the cryptocurrency industry but also to other domains.
5. What are some applications of AI in the cryptocurrency niche?
AI finds applications in various aspects of the cryptocurrency niche, including automated trading bots, fraud detection and prevention, sentiment analysis of market trends, portfolio management tools, and customer support chatbots, just to name a few.
6. How can individuals get involved in the cryptocurrency niche in AI?
Individuals interested in the cryptocurrency niche in AI can get involved by learning about blockchain technology, exploring AI algorithms and tools relevant to the industry, participating in cryptocurrency investment platforms, and staying updated with the latest developments through online communities and resources.
7. What are the future prospects for the intersection of cryptocurrency and AI?
The future prospects for the intersection of cryptocurrency and AI appear promising. With ongoing advancements in both fields, we can expect further growth, increased efficiency, and new opportunities for applications such as decentralized finance, smart contracts, and AI-powered trading platforms.