As the ongoing bull run for Bitcoin continues to gain momentum, the market capitalization of artificial intelligence (AI) and big data tokens has seen a significant surge of 131.4% since hitting its lowest point on June 8.
Market Capitalization of AI and Big Data Tokens Hits $42.1 Billion
On November 19, the total market capitalization of AI and big data crypto projects and tokens grew to $42.1 billion, led by Near Protocol (NEAR), Internet Computer (ICP), and Render (RENDER). This surge in market capitalization can be attributed to several factors, including:
- Positive Investor Sentiment: Growing confidence among investors has contributed to the rise in AI token prices.
- Growing Confidence in Bitcoin: As Bitcoin continues its bull run, investor sentiment for other cryptocurrencies, including AI tokens, has improved.
- Regulatory Clarity: Clarity in regulations across various jurisdictions has increased investor confidence and reduced risk.
Market Capitalization and Volume of AI and Big Data Tokens
Market capitalization and volume of AI and big data tokens, 30 days
The recent surge in AI token prices can be attributed to overall positive investor sentiment, growing confidence in Bitcoin, regulatory clarity in numerous jurisdictions and no major ecosystem collapses.
AI Token Market Had a Steady Decline in the First Half of 2024
In contrast to the current trend, the AI token market had a phase of steady decline in the first half of 2024. The market, which had a peak capitalization of $45 billion on March 15, eventually made its way down to $18.2 billion by June 8.
Market capitalization and volume of AI and big data tokens, one year
AI Token Market Recovery
However, in the next six months, the AI token market made a U-turn recovery to regain a market capitalization of $42.1 billion. The AI industry is well-positioned to break its record of almost $45 billion to mark a new all-time high by the end of November.
Top AI Tokens with Over $1 Million in Market Cap
In addition to Near Protocol (NEAR), Internet Computer (ICP), and Render (RENDER), other top AI tokens with over $1 million in market cap include:
- Bittensor (TAO)
- Artificial Superintelligence Alliance (FET)
- Injective (INJ)
- The Graph (GRT)
- Theta Network (THETA)
- Akash Network (AKT)
Crypto Market Compared to Traditional Banking Giants
The cumulative market capitalization of the entire crypto market is currently estimated at $3.09 trillion, according to CoinMarketCap data. As a result, AI tokens represent just 1.36% of the crypto market — signaling a huge scope for growth.
Related: New Record: Bitcoin Surpasses $1.6 Trillion Market Cap
On November 10, Ethereum surpassed Bank of America in terms of market capitalization, standing at around $383 billion.
Market Capitalization Comparison
| | Ethereum (ETH) | Bank of America (BAC) |
|—|—————–|———————-|
| | Market Capitalization: $383 billion | Market Capitalization: $346 billion |
The shift signals the increasing acceptance of decentralized finance and crypto assets.
Magazine: Legal Issues Surround the FBI’s Creation of Fake Crypto Tokens
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