- The cryptocurrency market has recently experienced significant fluctuations, yet some altcoins have managed to capture investors’ attention with impressive upward momentum.
- According to the latest report from Santiment, a blockchain analytics firm, the altcoins that have outperformed others are those with themes of artificial intelligence and big data.
- Notably, these specific projects have seen considerable accumulation by key stakeholders, suggesting sustained interest in their potential.
Discover how AI and Big Data-themed cryptocurrencies are gaining momentum amid market volatility. Read our expert analysis!
AI and Big Data Cryptocurrencies on the Rise
Santiment analysts have observed that altcoins focusing on artificial intelligence and big data have shown significant gains, particularly following the recent Federal Reserve’s interest rate decision. The on-chain data indicates that these projects are being accumulated by substantial wallets, hinting at sustained institutional interest.
The Standout Altcoins
During the market-wide rebound, four altcoins in the AI and big data sectors stood out with impressive increases. The top performers include:
- DBC: Achieving a 35% increase
- LIKE: Rising by 26%
- DX: Gaining 19%
- 0X0: Also up by 19%
🤖 AI and Big Data cryptocurrencies are standouts in today’s market-wide rebound. Several on-chain metrics continue indicating the accumulation of these tech-driven projects by key stakeholders. Today’s standout performers include:
🪙 $DBC (+35%)
🪙 $LIKE (+26%)
🪙 $DX (+19%)
🪙 #0X0 (+19%)— Santiment (@santimentfeed) June 12, 2024
Each of these altcoins has shown significant appreciation over the last 24 hours, with DBC leading the surge with a 35% increase. The growing interest in AI and big data-themed cryptocurrencies can be attributed to several factors, including NVIDIA’s stock performance and Apple’s announcement of its artificial intelligence project, “Apple Intelligence.”
Other Prominent Cryptocurrencies
Santiment analysts believe that the trend of AI and big data-focused cryptocurrencies gaining traction could continue. Innovations in these fields may bring new solutions to the crypto market, potentially boosting the value of altcoins within this theme. In another report from Santiment, the most popular altcoins were discussed. As expected, Bitcoin (BTC) continues to hold its position as the most popular cryptocurrency. This surge in interest can be linked to former President Donald Trump’s recent comments supporting Bitcoin mining within the United States.
Trump’s statements highlighting the need to mine all future Bitcoins within U.S. borders caused a significant uptick in the stock prices of publicly traded mining companies in the country. Besides Bitcoin, Santiment’s analysis identifies two altcoins that have also gained popularity:
- Minswap (MIN): The growing concern for transparency and credibility has spurred interest in this altcoin.
- Onyxcoin (XCN): This altcoin’s use of core chain validation and Klay chain for gas fees has contributed to its recent popularity.
🗣️ Crypto’s top trending coins. Remember – the opposite direction of the crowd’s expectation is most likely:
🪙 $BTC: Trump interest in increased Bitcoin mining
🪙 $MIN: Concerns of transparency and credibility
🪙 $XCN: Launch of core chain validator & use of Klay chain for gas pic.twitter.com/SKdL0coG9K— Santiment (@santimentfeed) June 12, 2024
Conclusion
In summary, the recent gains in AI and big data-themed cryptocurrencies reflect broader market trends and growing institutional interest. While Bitcoin remains a leading player, altcoins like Minswap and Onyxcoin are also becoming notable due to their unique features and appeal. As developments continue in these innovative sectors, we can expect further shifts in the cryptocurrency landscape. Stay connected to our channels for real-time updates and in-depth analysis of the ever-evolving crypto market.
