AI tokens surge amid Grayscale’s fund announcement
Share link:In this post: Grayscale has launched a fund for decentralized AI. The fund currently comprises Filecoin, Bittensor, NEAR protocol, Render Network, and Livepeer. Following the news, AI tokens saw varying price performance.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making an
Crypto projects focused on artificial intelligence (AI) saw a general surge in their native tokens after Grayscale announced the launch of a new fund focused on decentralized AI. The investment firm disclosed this in a June 17 press release, stating that the Fund will give investors exposure to the emerging AI sector within the crypto ecosystem.
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According to CoinMarketCap, AI and Big Data tokens saw an average 3% increase in their price over the past 24 hours. However, the performances were mixed, with AVTM rising by 71% while AXIS fell by 61%.
Grayscale Investments pick Filecoin, Render, and three others
At the time of its launch, the Grayscale Decentralized AI Fund will consist of five blockchain-based AI projects: the decentralized machine learning network Bittensor (TAO), the decentralized storage protocol Filecoin (FIL), the layer one blockchain NEAR protocol (NEAR), the decentralized GPU protocol Render Network (RNDR), and the decentralized video streaming network Livepeer (LPT).
NEAR had the highest portfolio weighting, 32.99%. FIL has 30.59%, RNDR 24.86%, LPT 8.64% and TAO 2.92%. However, the Fund will rebalance quarterly, and more AI tokens will likely be added to the basket over time.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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