- AI tokens are seeing huge gains and leading the crypto market in profits.
- NEAR remained the largest AI token, but FET and RENDER saw the most gains.
While the broader crypto market has been relatively tepid lately, AI-related tokens have seen significant growth. Over the past seven days, these tokens have seen massive increases in value, significantly increasing their overall market capitalization.
Data shows that the market capitalization of AI tokens has increased by billions of dollars, reflecting a strong wave of investor interest and confidence.
AI tokens are seeing a huge spike in market capitalization
According to data from CoinMarketCapthe market capitalization of AI tokens has increased significantly over the past seven days.
Specifically, the market capitalization of these assets has increased from approximately $24 billion to approximately $32 billion over the past four days. The increase underlines the strong momentum and investor interest in AI-related projects.
Close to protocol [NEAR] continues to lead the AI token market, with a market cap of approximately $5.5 billion. NEAR’s value has risen by more than 19% in the past seven days.
Internet computer [ICP] succeeds NEAR, which has a market capitalization of approximately $3.8 billion. ICP has also seen more modest growth, with its value up 9% over the same period.
Of the top five AI tokens, the most significant increases have come from Artificial Superintelligence Alliance [FET] and rendering [RENDER]. These assets have outperformed others in the group, reflecting increased interest.
How FET and RENDER collected other AI tokens
Recent data shows that the Artificial Superintelligence Alliance (FET) and Render (RENDER) have experienced a significant increase in their values over the past seven days, with FET seeing an increase of over 50% and RENDER seeing an increase of over 30%.
These substantial gains have positioned FET and RENDER as the biggest contributors to the overall increase in the market capitalization of AI tokens.
Daily trend analysis for Artificial Superintelligence Alliance [FET] indicates that the AI token has experienced consecutive increases over the past seven days.
However, this trend was briefly interrupted during the last trading session. During that session, FET saw a slight decline of 2.16%, closing the day at around $1.33.
Source: TradingView
However, at the time of writing, positive momentum has resumed, with the price of FET rising by over 3%, bringing it to around $1.38.
The current trend remains bullish and the token’s Relative Strength Index (RSI) is around 70, indicating that it is approaching or has entered overbought territory.
RENDER in the last seven days
Cause [RENDER] has contributed significantly to the recent rise in the market capitalization of AI tokens. Like Artificial Superintelligence Alliance (FET), RENDER experienced consecutive uptrends before experiencing a brief hiatus during the last trading session.
During that session, RENDER saw a decline of about 2.6%, dropping its price from about $6.3 to $6.1.
Source: TradingView
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At the time of writing, RENDER has not yet recovered from this drop and continues to trade around $6.1, reflecting another slight downturn.
Despite this recent pullback, RENDER remains bullish, with a Relative Strength Index (RSI) above 60.