AI token market cap surges 8.5% as major coins report double-digit gains

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AI tokens have spiked in worth following the introduction of Sora, a text-to-video generator developed by OpenAI. 

The event has reignited enthusiasm within the AI sector, which many traders consider can be a significant revenue generator within the present yr. CoinGecko information signifies an 8.5% enhance within the AI token market at this time, reaching $10.5 billion. 

Ocean Protocol’s OCEAN and Fetch.AI’s FET skilled a virtually 44% enhance over the previous week, whereas SingularityNet’s AGIX noticed an 80% rise. Bittensor (TAO), the biggest AI token by market cap, recorded a 14% enhance throughout the identical timeframe, marking an all-time excessive of $698.60 final Friday. 

Worldcoin’s WLD soared by 30% at this time alone, marking a 177% enhance over the week and setting an all-time excessive at $7.95. The numerous curiosity in Worldcoin is attributed to its affiliation with OpenAI CEO Sam Altman, main some traders to view WLD as an oblique funding in OpenAI’s progress.

The momentum within the AI token market was additional amplified by a tweet from Ethereum co-founder Vitalik Buterin, suggesting AI’s potential position in auditing good contracts. This point out led to a 15% enhance within the worth of TokenFi’s TOKEN, which is able to launch its unique Good Contract Auditor this yr. 

AI tokens surged into recognition in early 2023, as generative AI instruments like ChatGPT disrupted a number of industries. Though curiosity has diminished barely in latest months as a result of diminished hype, the launch of Sora by OpenAI has revived investor curiosity and pleasure in AI.

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