Although the cryptocurrency market entered the consolidation phase in February, followed by a bullish start of the year, some of its assets are recording double-digit daily gains, and the top three of the top 100 cryptocurrencies by market capitalization in these advances are artificial intelligence (AI) coins.
Indeed, the renewed interest in AI has propped up the value of cryptocurrencies utilizing this technology, including The Graph (GRT), SingularityNET (AGIX), andFetch.ai (FET), which have moved into the top three gainers in the last 24 hours, as per data obtained from CoinMarketCap on February 7.
In addition to the increased hype enjoyed by AI technology, these coins owe their success to additional factors surrounding them, including their development, features, purchasing behavior of their whales, and progress milestones.
The Graph (GRT)
Offering a new approach to organizing and accessing blockchain data, the native GRT token of The Graph protocol can be used for staking, payments within the network, and earning fees for depositing it into a bonding curve and delegating to indexers.
Recently setting a new record with the highest number of dApps querying the protocol’s network in the past two months has contributed to the GRT coin advancing as much as 31.25% over the last 24 hours and 97.29% in the previous seven days.
SingularityNET (AGIX)
As for SingularityNET’s native token AGIX, Finbold reported on its impressive growth of 900% since the start of 2023, with the ecosystem’s team working round-the-clock on creating an AGI or artificial general intelligence, the launch of which is rapidly approaching.
Recently, the team announced the launch of the future-oriented Mindplex Magazine and a partnership with COTI, contributing to the asset’s continuous rise toward the current $0.56, which represents an increase of 28.95% over the day and an impressive weekly gain of 227.87%.
Fetch.ai (FET)
Surging 20% in a single day on January 13, Fetch.ai’s FET token caught attention as one of the top daily gainers in Cosmos (ATOM) inter-blockchain communication (IBC) networks, as the community became aware of the platform’s utility as an interchain bridge and work on Autonomy of Things (AoT).
In a recent weekly summary, Fetch.ai said it had recorded more than five million transactions on its mainnet, whereas one of its whales continued to buy FET at low prices, after which its value rose to $0.5438, up 24.57% across the day and 100.66% over the week.
Conclusion
It should be noted that the potential for these digital assets to continue their bullish success will largely rely on future developments in the world of AI, the technology’s everyday usability, as well as the public interest in its use cases.
Interestingly, all three of the aforementioned AI digital assets have recently been featured in Finbold’s top 5 artificial intelligence (AI) cryptocurrencies that are worth keeping an eye out for and even purchasing during 2023.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
