Over the past 17 days, the value of cryptocurrency assets related to artificial intelligence (AI) has soared, significantly adding $10.21 billion to their total market value. This increase coincides with the unveiling of Openai’s latest innovation, a generative AI-powered application that can convert text to video.

The AI ​​crypto sector explodes by 142%

This month, the AI-focused crypto market has seen unprecedented growth following the announcement of Sora’s Openai, an advanced generative AI platform for creating videos from text. Although Sora is not yet available to the public, a series of impressively realistic videos produced by the platform have been shown, highlighting the groundbreaking nature of this technology.

As a result, since February 3, 2024, the AI-based crypto sector has expanded by an impressive 142.79%. During this period, the AI ​​crypto market has benefited from a $10.21 billion infusion, with numerous tokens experiencing significant appreciation against the US dollar.

Leading the pack in terms of market capitalization is the token, internet computer (ICP), which has seen a 27.76% increase in value in the past month. ICP’s market valuation has risen to $6.34 billion, positioning it as the leading AI token by market cap and the 18th largest crypto asset overall

While ICP experienced a remarkable 27% increase, other tokens within the AI ​​sector have seen even more dramatic increases over the past month. Bittensor (TAO), ranked second by market cap among AI tokens, rose an impressive 145.38% against the dollar.

Similarly, graph (GRT) enjoyed a 60.42% jump over the same period. The value of FET rose 63.24%, AGIX soared 94.78%, and the value of PAAL catapulted 139.4%. RLC saw a 67.92% increase in its value, NMR’s valuation rose 92.53%, and CQT, the tenth largest AI coin, rose 37.6% against the US dollar.

While TAO led the top ten in performance over the last 30 days, numerous other AI tokens also enjoyed significant triple-digit increases in their valuations. Specifically, delysium (AGI) saw an increase of 224.9%, while bcubeai (BCUBE) rose by a significant 364.54%.

The vast majority of AI tokens have reaped the benefits of these gains over the past month and the previous fortnight. Since last year, the sector has seen an exponential rise in value, benefiting from the huge wave of enthusiasm for the wide range of AI technologies that have emerged in the last 12 months. Whether this enthusiasm translates into tangible innovation remains to be seen.

Source: https://cryptobenelux.com/2024/02/20/ai-cryptocurrency-groei-explodeert-na-openais-sora-onthulling/



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