AI Tokens Outperforming Bitcoin Today
In the volatile world of cryptocurrencies, where Bitcoin’s recent stumble has sent ripples through the market, some altcoins are showing resilience and even outperforming BTC, the leading coin, dominating the entire crypto market by 54.2%. For instance, AI altcoins are stealing the spotlight with a combined trading volume surging by 43% in the past 24 hours. This follows Apple’s announcement of leaping into artificial intelligence with the integration of OpenAI’s ChatGPT into Siri. This development initially saw AI tokens continue to decline in value, with a 6% loss in market capitalization. Elon Musk criticized Apple’s partnership with OpenAI, expressing concerns about user security and privacy. Today, we’ll take a closer look at three AI tokens : Injective (INJ), Akash Network (AKT), and Oasis (ROSE). While Bitcoin struggles to maintain its value above $70,000, these AI tokens are carving their paths with impressive gains. Let’s delve deeper into specifics.
Injective (INJ)
Injective Protocol, the decentralized exchange protocol, is gaining attention for its recent achievements. Although the market has been slumping, INJ has reported an upward trend.
The token has grown in value by 9.64% over the past day, and 18.16% gain over the week. Reporting a market cap of approximately $2.74 billion, the Injective token is demonstrating its strength amid the market’s decline. INJ is currently trading at $29.39, drawing in both traders and investors.
Akash Network (AKT)
Akash Network, another AI token defying the odds, is gaining interest due to its decentralized cloud computing marketplace. The value of AKT has grown by 7.84% and a modest 0.37% over the past day and week respectively.
Trading at $4.47, the increase in growth has propelled its market cap to over $1 billion. Despite the market turbulence, AKT shows resilience, and potential for further growth, even after the market stabilization.
Oasis (ROSE)
Oasis Network, created for providing blockchain solutions with privacy features, is still standing strong amidst the current crypto turbulence. ROSE has seen a 4.51% increase in the past 24 hours and a 2.40% rise over the week.
Even though ROSE’s gains may appear less when compared to those of other Ai tokens, its ability to remain strong in the midst of market fluctuations is impressive. Priced at $0.1189, it remains appealing to investors looking for potential projects.
Current Bitcoin Price Action
Trading at $67,541, Bitcoin price reflects a drop of 2.63% over the past day, although it saw a growth of 2.51% during the week. Despite these gains, BTC falls under the expectations of the investors and traders who are eyeing a price above $70,000.
With a market cap of $1.32 trillion, the largest crypto has recorded increased 24-hour trading volume to reach $29.88 billion
Conclusion
As Bitcoin’s price falters, these AI tokens are demonstrating the various possibilities in the cryptocurrency industry. They have outperformed BTC in terms of percentage gains during the same timeframe. Moreover, the 43% increase in the total trading volume of AI tokens shows a rise in interest and involvement in these cryptos.
The recent market crash demonstrates the volatile nature of digital assets. Nevertheless, for individuals who are open to venturing past what is commonly accepted, there are numerous opportunities available. Ventures such as Injective, Akash Network, and Oasis Network prove that strength and creativity can flourish in difficult circumstances. Investors are reviewing their investment portfolios following Bitcoin’s decline, highlighting the importance of monitoring these AI tokens for their potential to generate high profits during market uncertainty.
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