Investors are showing increased interest in big data and artificial intelligence (AI) tokens as they turn their attention to alternative cryptocurrencies during a positive market trend.
Data from CoinMarketCap (CMC) reveals that the top five gainers among the top 100 cryptocurrencies belong to the big data and AI category, each experiencing double-digit growth.
Top Performers in the Cryptocurrency Market
Top 5 gainers in 24 hours – March 7 | Source: CoinMarketCap
Fetch.ai (FET): Leading the list is Fetch.ai (FET), which saw a significant rise of 38.26% over the past 24 hours, reaching a trading price of $2.74. With its market cap soaring to $2.28 billion, FET now ranks as the 50th-largest digital currency.
Render (RNDR) and Near Protocol (NEAR): Similarly, Render (RNDR) experienced substantial gains of 37% in the last day, currently trading at $10.04. Meanwhile, the native token of Near Protocol, NEAR, also surged by 35.37% to reach $5.73.
SingularityNET (AGIX): SingularityNET (AGIX) secured the fourth spot on the list with an impressive surge of 25.91% over the past day, priced at $1.15 at the time of writing.
Akash Network (AKT): Finally, the native token of the Akash Network, AKT, made significant gains of 17.22% in 24 hours, currently trading at $5.26 with a total market cap of $1.2 billion.
Rise of AI Tokens and Altcoins in the Crypto Market
The surge in AI tokens’ prices coincides with investors shifting their focus to altcoins. Big data and AI cryptocurrencies collectively experienced a notable 15.5% increase in total market capitalization, reaching $37.36 billion.
Despite this, the global cryptocurrency market cap saw a modest 0.6% increase over the past 24 hours, reaching $2.5 trillion, according to CMC data. However, Bitcoin’s (BTC) dominance decreased from 50.1% to 49.7% during the same period. This decline indicates that investors have been accumulating more altcoins compared to the flagship digital currency.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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