As Bitcoin stabilizes around $64,000, the cryptocurrency trend shifts become more apparent. Artificial Intelligence (AI) tokens such as Bittensor (TAO), Arkham (ARKM), and Internet Computer (ICP) are outperforming meme coins, showing a shift in investor interest.
They have outstanding market value performance and are leading the way in blockchain technology innovation. This transition suggests a maturing market for innovation and practical applications.
TAO, almost doubled in a week
In the last 24 hours, the market cap of AI tokens has surged by more than 10%, reaching $30 billion. Leading this growth was Arkham , up 11.7%, Internet Computer , up 9.4%, and NEAR Protocol, up 8%.
Read more: 9 AI Cryptocurrencies to Watch in 2024
Last week, all major AI tokens experienced significant growth. For example, Bittensor’s TAO token gained 85%, Arkham gained 52.7%, and the Federation of Artificial Superintelligence (FET) gained 31.7%.
By sector, AI is the main story. According to Artemis data, AI tokens have surged 32.3% over the past seven days. Memecoin , on the other hand, has lagged behind in investor interest, rising only 10.4%.
The growing popularity of AI-driven cryptocurrencies coincides with notable technological developments. In particular, OpenAI released its o1 model on September 12 , which has shown improved inference capabilities and has attracted interest from several sectors, including the cryptocurrency market.
OpenAI’s latest AI models promise to improve the efficiency of performing complex tasks. According to the report, the smallest unit in this new lineup outperforms GPT-4o on AI test benchmarks, simulating PhD-level challenges. These improvements have boosted the status of AI tokens such as Worldcoin (WLD).
Read more: 9 Best AI Stocks to Buy in 2024
Additionally, OpenAI’s recent fundraising efforts have seen a surge in investor interest in AI, with rumors suggesting the $65 billion funding round was oversubscribed, valuing the company at $150 billion. According to Bloomberg, investor demand has exceeded several billion dollars.
Additionally, Apple’s iPhone 16 AI features and Nvidia’s earnings report have also impacted the cryptocurrency ecosystem. Cryptocurrency analysts are increasingly optimistic about the AI token market.
“AI will be the biggest story in the upcoming alt-run. What we saw in 2023 was just a warm-up,” Wizz, an anonymous crypto analyst, opined .
