- The cryptocurrency market is battling to enter the weekend stronger, with leading cryptocurrency Bitcoin hovering around $63,000 and altcoins showing a mixed picture.
- However, major altcoins related to artificial intelligence have seen a strong rise in the last 24 hours, thus outperforming the general crypto market.
- Local cryptocurrencies associated with SingularityNET (AGIX) and Fetch.ai (FET) recorded gains of over 11% and 10% respectively.
AI-focused altcoins are catching the eye with their performance, with four AI coins achieving double-digit gains in 24 hours amidst a mixed market picture.
AI-Focused Altcoins Shine Amidst Mixed Market
Fetch.ai, which uses artificial intelligence and machine learning to automate business tasks, saw a rise of over 19% in the past week. According to CoinGecko data, the AI token market value reached $27.9 billion in the last 24 hours, an increase of over 11%. In contrast, today’s global cryptocurrency market value stands at $2.45 trillion, representing a 2.9% increase in the last 24 hours.
Four AI Coins Achieve Double-Digit Gains in 24 Hours
While the market presents a mixed picture, some altcoins are witnessing strong increases. Four cryptocurrencies in the top ten AI-tokens achieved double-digit gains for the day. Akash Network (AKT) recorded a gain of 19% in the last 24 hours. The Graph (GRT) saw a 14% increase. Golem (GLM) and Arkham (ARKM) both experienced a 10% gain in the same period.
Bitcoin Price Rises Over 3% in 24 Hours
In contrast, Bitcoin’s price showed an increase of over 3% in the last 24 hours, thus pushing the leading cryptocurrency above the $63,000 level. The GM 30 Index, representing the top 30 cryptocurrencies, rose by 2.79% to 131.92 in the last 24 hours. According to CoinGecko data, Bitcoin dominance is at 50.6%, while Ethereum dominance is at 14.9%.
Conclusion
Despite a mixed market picture, AI-focused altcoins are standing out with their performance. With four AI coins achieving double-digit gains in 24 hours, it’s clear that the AI sector within the crypto market is showing strong potential. As the market continues to evolve, these AI-focused altcoins could continue to outperform the general market.
