According to the recent market analysis by the Phoenix Group, some AI tokens like RENDER, TAO, and WLD are leading the charts. This report gives information on last week’s trading activity of AI-related cryptos. The observed general summary of Phoenix Group indicates the rising dominance of certain tokens and the fluctuations in their price and market capitalization.
TOP #AI TOKENS BY WEEKLY TRADING VOLUME$RENDER $TAO $WLD $FET $IO $AI $GRT $ATH $NFP $AGI $MASA $AKT $TAI $NMR $XR pic.twitter.com/kusCzEMtFg
— PHOENIX – Crypto News & Analytics (@pnxgrp) October 6, 2024
A Leader Emerges: RENDER Tops the Chart
At the top of this list is RENDER, with a weekly volume of $2.20B. However, despite its significant trading volume, RENDER has seen a 14.2% decline in price over the past seven days. Its market capitalization is $2.8 billion and remains an influential participant, but fluctuations are still evident.
TAO and WLD Close Behind
Well behind $RENDER are $TAO and $WLD, trading at a weekly turnover of $1.82B and $1.81B, respectively.
$TAO saw a notable 5.9% gain in price, and its overall market value is $4.1B, which is the largest here. This means investors are confident due to the greater adoption of solutions and integration with other systems.
$WLD has struggled with a 5.9% price drop that may be well attributed to overall market fluctuations. While currently ranking lower with its market cap at $941.4M, its trading volume far exceeds the trading volume of $TAO, suggesting continuous interest of the crypto users.
FET and IO: Mid-Range Performers
$FET and $IO, with weekly turnovers of $1.61B and $370M, respectively, are mid-range performers with respect to weekly trading volume.
Seemingly, $FET is among the best-performing tokens in the decentralized machine learning and AI space, but in the last week, the price fell by 11.9% to a $3.5B market cap.
$IO is one of the less familiar yet fast-developing AI tokens that lost 14.6% in this week’s trading and has a relatively tiny market value of $167.5M only. Considering its weekly trading volumes, it can be seen that $IO is being traded and accepted by investors.
AI-Powered Tokens in the Lower Tiers: AI, GRT, and Others
$AI has a weekly trading volume of $292M and has dropped 18.6% in price in the last seven days. It currently has a market capitalization of $91.3M.
GRT, an AI and blockchain solution that boasts a weekly volume of $262M, is down in price by 12.5% and now has a market cap of $1.5B. It is often used to index and query data from blockchains.
One of the largest volume declines of 14.5% was observed in $ATH, which had a volume of $233M. Meanwhile, $NFP also depicted a 14.9% price decline, with a weekly trading volume of $91.7M. Both tokens are participating in new AI applications.
Smaller AI Tokens Show Potential: AGI, MASA, AKT, and TAI
Towards the end of the list, several smaller tokens are gaining momentum, albeit with varying levels of success:
AGI, which has a $71M volume, has dropped by 5.4% but is still an important token in the AI sector.
MASA ($53.3M) and AKT ($41.9M) have had their prices fall by 9.8% and 14.8% respectively. $TAI and $NMR have dropped in price even more severely, with weekly volumes of $34.6M and $32.5M, respectively.
The outlook for all of these tokens will certainly stay as one of the most innovative kinds of financial tools as Artificial Intelligence links with the blockchain.