AI crypto sector rises as it approaches $30B milestone

While the broader cryptocurrency market saw minimal growth, the AI-focused crypto sector grew by 5.4%, bringing its total market value to just over $29 billion.

The overall market increased by 0.28%, reaching a capitalization of $2.19 trillion, with AI-related digital assets accounting for 1.33% of that total.

NEAR Protocol (CRYPTO:NEAR) gained 6.6%, bringing its market valuation to $5.76 billion.

Bittensor (CRYPTO:TAO), which grew by 4.4%, holds the largest position in Grayscale’s AI fund, with a weight of 29.55%.

Additionally, Artificial Superintelligence Alliance (CRYPTO:FET) saw an increase of 3.1%, surpassing Internet Computer (CRYPTO:ICP) in market value.

FET’s current valuation is $3.933 billion, while ICP stands at $3.908 billion.

Smaller AI-related cryptocurrencies also saw gains, with ENQAI (CRYPTO:ENQAI) rising by 37.4%, MOCK (CRYPTO:MOCK) by 25.7%, and SNS (CRYPTO:SNS) by 22.1%.

The AI crypto sector's total market value is now $29.06 billion, just short of the $30 billion milestone.

The AI cryptocurrency market has steadily grown throughout 2024, outpacing some other sectors within the digital asset space.

It is expected to reach the $30 billion threshold in the near future, marking continued interest and development in AI-related cryptocurrencies.