AI Sector Bounces Back with 8.3% Week-Over-Week Improvement

The AI sector has bounced back from its month-long downturn, recapturing some lost ground since the last update. The sector added $1.1 billion to its market capitalization (market cap), equivalent to an 8.3% week-over-week improvement.

Bittensor (TAO) was a standout performer, gaining 21% in a week to reclaim the $190 price point after being listed on Upbit. This surge helped fuel the recovery of the sector as a whole.

The listing on Upbit also sparked a liquidity surge for TAO, making it the day's top gainer. Other notable movers included Allora (ALLO), which gained 48.4% after launching predictive AI on TRON and getting listed on Bithumb, and Virtuals Protocol (VIRTUAL), which rose by 17.5% following suspected rumors of a potential listing on Binance.

However, Internet Computer (ICP) has lost its shine over the last year and is now trading near its all-time low (ATL). The platform currently has ~5,000 daily active addresses at a $1.3 billion market cap, equating to $260K per user, which has amplified 'ghost chain' criticisms.