AI Crypto Economy Suffers $1.42B Loss Since February Peak; Top Tokens Record Weekly Declines

In February 2023, the AI-driven cryptocurrency assemblage reached a staggering $4 cardinal successful value. Yet, it has since experienced a downturn of $1.42 billion. Over the past week, 8 of the apical 10 AI-based crypto tokens saw declines against the U.S. dollar.

Downturn Hits AI Crypto Market

Once a thriving market, AI-focused cryptocurrency assets person undergone sizeable worth reductions successful the past 4 months. On February 27, 2023, the AI crypto system was worthy astir $4.03 billion, but by May 28, 2023, it had mislaid $1 cardinal successful value. Since that time, an further 420 cardinal has been shed from the AI-focused crypto coin market.

Cumulatively, since its highest astatine the extremity of February, astir $1.42 cardinal has been stripped from the AI-crypto economy’s worth. The erstwhile week wasn’t peculiarly favorable for the apical 10 coins successful this assemblage either, with astir of the starring AI-focused crypto assets signaling losses implicit the past 7 days. The apical AI crypto plus by marketplace capitalization – graph (GRT) – dropped by 4.97% during this play arsenic singularitynet (AGIX) fell by 7.99%.

Ocean protocol (OCEAN) registered the largest nonaccomplishment among the apical 10 AI tokens this past week with a diminution of 13.7% against the U.S. dollar. Fetch.ai (FET) saw a antagonistic interaction of 9.94%, portion dkargo (DKA) experienced a 4.38% increase. Iexec rlc (RLC) plunged by 8.18%, numeraire (NMR) dipped by 2.56%, and covalent (CQT) experienced a mean emergence of 2.26%. Alethea liquid quality (ALI) fell by 7.84%, and phala web (PHA) decreased by 5.62% successful worth against the greenback.

In total, the combined worth of each 89 AI-centric crypto tokens declined by 2.85% implicit the past time and 5.73% wrong the erstwhile week. Figures from the past 24 hours suggest that the AI-based coin assemblage has witnessed $309 cardinal successful planetary commercialized volume. Weekly information indicates that the apical 3 AI-driven crypto tokens by gains were blockbank (BBANK), idena (IDNA), and ai meta nine (AMC), soaring betwixt 46% and 218% during this week.

As we observe these caller downturns successful the AI crypto market, what bash you deliberation is the aboriginal for AI-driven cryptocurrencies? Will they bounce backmost oregon proceed their downward trend? Share your thoughts and opinions astir this taxable successful the comments conception below.