Home Crypto Altcoins AI crypto sector nears $10 billion market cap as Bittensor surges 220% in 2024

AI crypto sector nears $10 billion market cap as Bittensor surges 220% in 2024

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AI crypto sector nears $10 billion market cap as Bittensor surges 220% in 2024

The AI blockchain sector is closing in on a $10 billion market cap following the meteoric surge of Bittensor, which is up 140% over the previous 30 days. Native token TAO surpassed $4 billion in market cap, reaching an all-time excessive on Feb. 15 of $698 earlier than retracing to round $659 as of press time.

The highest 5 AI crypto tasks by market cap are Bittensor, The Graph, Fetch.ai, SingularityNET, and Ocean Protocol. All 5 are up over 10% within the final seven days, with Bittensor and SingularityNET up 31% and 35%, respectively.

Bittensor (TAO)

Bittensor is a Polkadot substrate-based challenge that merges blockchain know-how and AI to create a decentralized machine studying community. This initiative is designed to revolutionize the event and utilization of machine studying platforms by decentralizing the method and fostering a collaborative surroundings the place the collective intelligence of AI fashions will be harnessed and shared. On the coronary heart of Bittensor’s ecosystem is the TAO token, which incentivizes the contributions of builders and the standard of their fashions, basically performing as a measure of the community’s collective intelligence and information.

The Graph (GRT)

The Graph is designed for indexing and querying information from blockchains, making it simpler to retrieve advanced data that’s tough to question immediately. It’s a crucial layer for decentralized functions (dApps) needing to entry blockchain information effectively. The Graph makes use of GRT, its native token, to incentivize information indexing and querying. Tasks with intricate sensible contracts, equivalent to Uniswap and numerous NFT initiatives, profit considerably from The Graph’s capacity to facilitate advanced information queries past primary blockchain-read operations.

Fetch.ai (FET)

Fetch.ai integrates synthetic intelligence to automate and optimize numerous duties and processes throughout a number of sectors, together with transportation, provide chain, and healthcare. It goals to create a decentralized digital financial system powered by autonomous software program brokers. These brokers can carry out duties autonomously, facilitating a self-sustaining financial system. The FET token, an ERC-20 utility token, is used inside the Fetch.ai ecosystem to energy transactions and computational providers. Fetch.ai’s know-how is related for a lot of industries, aiming to revolutionize them by leveraging AI and machine studying.

SingularityNET (AGIX)

SingularityNET is a decentralized AI market that permits for creating, sharing, and monetizing AI providers at scale. It makes use of AGIX, its utility token, for transactions, decentralized governance, and incentivizing the supply of platform liquidity. The platform helps a various vary of AI providers and permits builders to publish their AI providers, which may then be built-in into numerous functions. SingularityNET goals to facilitate the event of Synthetic Common Intelligence (AGI) to create a useful technological singularity. It emphasizes an ethics-first strategy, making AI applied sciences accessible and sensible for all.

Ocean Protocol (OCEAN)

Ocean Protocol seeks to democratize information, making it accessible for people and companies to share and monetize their information and>anticipated to report $4.52 per share for the upcoming earnings launch, representing a year-over-year enhance of 413%.

Different AI-adjacent firms, equivalent to these within the semiconductor sector, have additionally rallied all through 2024. For instance, Taiwan Semiconductor Manufacturing Firm (TSM), a serious element producer for AI know-how, is up 30% since Jan. 1.

Moreover, OpenAI revealed its new text-to-video mannequin, Sora, on Feb. 15, which showcased the power to create lifelike video scenes of as much as 1 minute and a number of digicam angles. The instance movies had been far past many present generative video options, suggesting one other big leap ahead for generative content material.

The fast development of centralized AI improvement could also be partly fueled by the resurgence in decentralized AI tasks as traders hope to maintain tempo.

Disclaimer: The creator has a small holding of TAO.

Bittensor Market Information

On the time of press 11:22 am UTC on Feb. 16, 2024, Bittensor is ranked #204 by market cap and the worth is up 8.31% over the previous 24 hours. Bittensor has a market capitalization of $4.18 billion with a 24-hour buying and selling quantity of $44.6 million. Study extra about Bittensor ›

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