CandleFocus

AI tokens lead weekly gains after Fed's interest rate cut

Author: Content Editor
According to data from Artemis, artificial intelligence (AI) tokens have been leading the gains in the cryptocurrency market over the past week. On average, AI tokens have seen a return of 37%, more than double the market's average gain of 15.9%. Bittensor (TAO) saw the highest increase, climbing 86.2% in the last seven days. Other AI-related tokens, such as Artificial Superintelligence Alliance (ASI) and Render (RENDER), also performed well with gains of 31% and 30.3% respectively. In terms of sectors, tokens related to data services and data availability, as well as those related to real-world assets and gaming, were the best performers. On the other hand, native tokens of decentralized applications had a 15% weekly gain, just below the market average. Memecoins, despite their strong performance in the first quarter, gained 11.1% over the past week, below the market average. The report also highlighted the market depth of altcoins, suggesting that market makers are shifting their funds towards more consolidated assets like Bitcoin.

Related News