AI Tokens Surge to $25 Billion as Crypto Stalls
The AI token sector continues its winning streak, adding about 4.7% to roughly $25 billion in value over Tuesday.
This marks a second consecutive day of gains for the sector, which is outperforming the broader crypto market.
The largest AI tokens are leading the charge, with NEAR Protocol (NEAR) rising by about 87% over the past week to become the largest token in the category at a $5.67 billion market cap.
Bittensor's gains followed infrastructure expansions, including the launch of OpenRoboto subnet on Base, Coinbase's Ethereum layer-2 network, using Chainlink's cross-chain protocol.
The rally is attributed to project-specific catalysts and the market's enthusiasm for AI. Digital Currency Group founder Barry Silbert predicts that the next big wave in crypto will be the convergence of AI and crypto.