AI tokens outshine crypto market, adding $8B in a week – What now?

• AI tokens see massive gains and lead the crypto market in gains.
• NEAR remained the largest AI token, but FET and RENDER saw the most gains.

While the broader crypto market has been relatively lukewarm recently, AI-related tokens have experienced significant growth. Over the last seven days, these tokens have seen massive value increases, driving a substantial rise in their overall market capitalization.

Data indicates that the market cap of AI tokens has surged by billions of dollars, reflecting a strong wave of investor interest and confidence.

AI tokens see massive market cap spike

According to data from CoinMarketCap, the market capitalization of AI tokens has substantially increased over the past seven days.

Specifically, the market cap of these assets has surged from approximately $24 billion to around $32 billion in the last four days. The surge highlights the strong momentum and investor interest in AI-related projects.

Near Protocol [NEAR] continues to lead the AI token market, with a market capitalization of around $5.5 billion. NEAR’s value has risen by over 19% in the last seven days.

Internet Computer [ICP] follows NEAR, which holds a market cap of around $3.8 billion. ICP has also experienced more modest growth, with a 9% increase in value over the same period.

Among the top five AI tokens, the most significant increases have come from Artificial Superintelligence Alliance [FET] and Render [RENDER]. These assets have outperformed others in the group, reflecting heightened interest.

How FET and RENDER rallied other AI tokens

Recent data indicates that over the last seven days, Artificial Superintelligence Alliance (FET) and Render (RENDER) have experienced significant increases in their values, with FET seeing over a 50% increase and RENDER gaining more than 30%.

These substantial gains have positioned FET and RENDER as the biggest contributors to the overall surge in the market capitalization of AI tokens.

Analysis of the daily trend for Artificial Superintelligence Alliance [FET] indicates that the AI token experienced consecutive increases over the last seven days.

However, this trend was briefly interrupted in the last trading session. During that session, FET saw a slight decline of 2.16%, closing the day at around $1.33.

Source: TradingView

However, as of this writing, the positive momentum has resumed, with FET’s price increasing by over 3%, bringing it to approximately $1.38.

The current trend remains bullish, and the token’s Relative Strength Index (RSI) is around 70, suggesting it is approaching or has entered the overbought territory.

RENDER in the last seven days

Render [RENDER] has significantly contributed to the recent surge in the market capitalization of AI tokens. Like Artificial Superintelligence Alliance (FET), RENDER experienced consecutive uptrends before encountering a brief interruption in the last trading session.

During that session, RENDER saw a decline of approximately 2.6%, dropping its price from around $6.3 to $6.1.

Source: TradingView

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As of this writing, RENDER has not yet recovered from this decline and continues to trade around $6.1, reflecting another slight downturn.

Despite this recent pullback, RENDER remains bullish, with its Relative Strength Index (RSI) above 60.