In recent days, the segment of AI cryptocurrencies has been significantly outperfroming the rest of digital assets. Per CoinGecko, AI cryptos set a new local capitalization high. Meanwhile, the largest AI cryptos are taking a breath today.
AI cryptos rallying as OpenAI's Sora triggers new hype
Today, Feb. 20, the total capitalization of artificial intelligence cryptocurrencies reached $15.8 billion after an 8% upsurge in the last 24 hours. Yet again, the AI crypto sphere has become the fastest-growing segment of the Web3 world. For instance, Cardano-linked project SingularityNET witnessed its AGIX token printing a 80% spike in the last seven days.
To provide context, the net capitalization of the entire cryptocurrencies segment only added 0.2% in the last 24 hours.
As covered by U.Today previously, the optimism in the AI coin segment should be attributed to the success of Sora, a novel text-to-video AI-powered content generator by OpenAI.
Godfrey BenjaminSora is able to create videos of unbelievable quality using nothing but simple text prompts. Previously, AI crypto hype waves were triggered by the releases of OpenAI's ChatGPT AI-powered bot.
Besides AI cryptos, Sam Altman's Worldcoin (WLD) also jumped by over 40%.
Fetch.AI (FET) targets $1 billion capitalization
At the same time, the largest AI coins by market cap demonstrated pale performance in the last 24 hours. For instance, the two biggest coins, Bittensor (TAO) and Render Network (RNDR), are in the Red, with 5% and 1.4% lost, respectively.
Fetch.AI (FET) is the only heavyweight that keeps pumping. It added 2% in the last 24 hours, expanding the weekly rally to about 40%. For the first time in its four-year history, the token is ready to accomplish 10-digit capitalization.
Akash Network (AKT) also demonstrates strong performance and is back in the top 100 assets by market capitalization.
Yuri Molchan
Dan Burgin
Alex Dovbnya