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AI Tokens Outperform Bitcoin Today
In the volatile world of cryptocurrencies, where Bitcoin’s recent stumble has impacted the market, some altcoins are showing resilience and even outperforming Bitcoin, the leading coin, dominating the entire cryptocurrency market with 54.2%. For example, AI-powered altcoins are stealing the spotlight with combined trading volume up 43% in the last 24 hours. This follows Apple’s announcement to make a leap 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 security and user privacy. Today we will take a closer look at three AI tokens: Injective (INJ), Akash Network (AKT) and Oasis (ROSE). As Bitcoin struggles to maintain its value above $70,000, these AI tokens are blazing a trail with impressive gains. Let’s go deeper into the specifics.
Injective (INJ)
Injective Protocol, the decentralized exchange protocol, is gaining attention for its recent achievements. Although the market is declining, INJ has reported an upward trend.
The value of the token grew by 9.64% over the past day and 18.16% over the week. With a market capitalization of around $2.74 billion, the Injective token is proving its strength amid the market decline. INJ is currently trading at $29.39, attracting both traders and investors.
Akash Network (AKT)
Akash Network, another odds-defying AI token, is gaining interest thanks 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 surge in growth has pushed its market capitalization to over $1 billion. Despite the market turbulence, AKT shows resilience and potential for further growth, even after the market stabilizes.
Oasis (PINK)
Oasis Network, created to provide blockchain solutions with privacy features, is still going strong in the current crypto turbulence. ROSE recorded a 4.51% increase in the last 24 hours and a 2.40% increase for the week.
While ROSE’s earnings may seem lower than those of other Ai tokens, its ability to remain strong amid market fluctuations is impressive. Priced at $0.1189, it remains attractive to investors looking for potential projects.
Current Bitcoin price action
Trading at $67,541, Bitcoin price reflects a decline of 2.63% over the past day, although it saw growth of 2.51% over the week. Despite these gains, BTC falls below the expectations of investors and traders aiming for a price above $70,000.
With a market capitalization of $1.32 trillion, the largest cryptocurrency saw a surge in 24-hour trading volume to $29.88 billion
Conclusion
As the price of Bitcoin falters, these AI tokens are demonstrating the various possibilities in the cryptocurrency industry. Over the same time frame they have outperformed BTC in terms of percentage gains. Furthermore, the 43% increase in total trading volume of AI tokens shows an increase in interest and engagement in these cryptocurrencies.
The recent market crash demonstrates the volatile nature of digital assets. However, for people who are open to venturing beyond what is commonly accepted, there are numerous opportunities available. Businesses like Injective, Akash Network and Oasis Network demonstrate that strength and creativity can thrive in challenging 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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With over four years of experience in the cryptocurrency, Fintech, blockchain and Web3 industries, I bring a wealth of knowledge and expertise to every piece I write. Supported by a Master’s in Business Administration, my writing combines in-depth analysis with a deep understanding of market trends, technological advances and regulatory landscapes. Whether creating engaging articles, informative guides, or thought-provoking analysis, I strive to provide content that informs, educates, and inspires readers in this rapidly evolving space.
The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for personal financial loss.