The popularity of cryptocurrency tokens somewhat related to the AI story is rising once again as interest in the most recent AI projects, such as GPT-4 and DALLE 3 generative models, is returning. Although the majority of the top performers were relatively recent low-cap coins, some seasoned cryptos also showed strong increases.
AI crypto Covalent (CQT) adds over 40% in seven days
One of CoinMarketCap’s top performances in the “Top AI & Big Data Tokens” category is CQT, the primary native cryptocurrency of infrastructure manufacturer Covalent. The token was able to gain more than 42% during the past several days.
In AI’s favour, there are other excellent rallies as well. DexCheck (DCK), a new cryptocurrency, nearly quadrupled in market value during the past week. Its price increased by 86% and reached a high of $0.0327.
For the first time, Bridge Oracle (BRG) has joined the exclusive group of currencies with a seven-digit capitalization. However, there is very little liquidity available, and both cryptocurrencies trade mostly on DEXes.
As a result, it is reasonable to claim that the AI coin market had a better week than the overall cryptocurrency market. Only 2.3% more money was invested in total digital assets monitored by CoinMarketCap, from $1.047 trillion to $1.072 trillion in equivalent.
In October 2023, the low-cap AI currency Trustverse (TRV) saw an almost threefold increase in capitalization.
As U.Today previously reported, the craze around generative AI and the applications based on it led to two or three pumps of cryptocurrencies linked to AI.
Verasity (VRA) stole all headlines and keeps pumping
A handful of “AI narrative” tokens already had a 1,000% increase in value in Q1 2023, however it is still unclear whether all of them genuinely use AI for their businesses.
The main mid-caps newsmaker from last week, Verasity (VRA), is also listed by CoinMarketCap as an AI/Big Data coin. As soon as the token burn event was announced, it increased by 70% over night.
As of the time of publication, VRA has increased 13% over the previous 24 hours.
The overall state of the cryptocurrency market is one of moderate optimism, according to Alternative’s Fear and Greed index, which has returned to the “Neutral” range with a score of 49/100.
