Top 5 AI Crypto Tokens Tumble Against the US Dollar
The value of artificial intelligence (AI) crypto tokens has tumbled against the US dollar. The AI crypto sector's valuation declined in recent weeks by USD 960 million, which was valued at 7 billion at the beginning of the year. The top five AI crypto tokens have witnessed a decline in their value, varying between 6% and 16% against the US dollar over the past month.
AI Crypto Sector Plummets USD 960 Million in Value
The digital currency market, comprising 82 AI crypto tokens, held a cumulative value of USD 7.04 billion on January 2, 2024. The market valuation now stands at USD 6.08 billion, registering a loss of USD 960 million in the same period as per the current data available on the sector. This is a decrease of 13.63% against the US dollar over the past 20 days.
Bittensor (TAO) dipped by 6.06% but continues to be the leader of the sector with the highest market capitalization of USD 1.57 billion. Graph (GRT) declined by 10.31%, with its current market valuation at USD 1.52 billion in terms of its 30-day performance.
The market capitalization of TAO and GRT together is 50.82% of the total value of USD 6.08 billion for the AI-crypto economy. Fetch (FET) declined by 15.62% in the past month, while Singularitynet (AGIX) declined by 16.28%.
Fetch (FET) currently holds a market capitalization of USD 507 million, while Singularitynet (AGIX) has a net valuation of USD 354 million. Ocean Protocol (OCEAN) is in fifth place with a market cap of approximately USD 255 million in the rankings.
OCEAN has declined by 14.81% against the US dollar in comparison to its value for the last month. The combined market capitalization of the top five AI crypto tokens (TAO, GRT, FET, AGIX, and OCEAN) commands 85.62% of the total valuation for the AI crypto sector.
AI Crypto is Considerably Small to Meme Market Capitalization
The AI crypto sector has witnessed significant growth in the last year, exceeding the total market capitalization of all privacy coins, currently valued at USD 5.79 billion. However, the AI digital currency sector is considerably smaller in comparison to the meme coin market, which has a substantial market capitalization of USD 21.53 billion.
What is your take on the AI crypto tokens witnessing a market decline over the past month? Please share your thoughts and opinions about this subject in the comments section below.
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