AI Tokens See Massive Market Cap Spike, Near Protocol [NEAR] Continues to Lead the Market

While the broader crypto market has been relatively lukewarm recently, AI-related tokens have experienced significant growth.

As the broader crypto market has shown signs of cooling off recently, AI-related tokens have experienced a contrasting fate, enjoying significant growth. Over the last seven days, these tokens have seen massive value increases, which have, in turn, led to a substantial rise in their overall market capitalization.

According to data from CoinMarketCap, the market capitalization of AI tokens has increased substantially 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. This 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, boasting 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.

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

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.

Artificial Superintelligence Alliance [FET] 1-day price chart. Source: CoinMarketCap

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.

Nevertheless, 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 1-day price chart. Source: CoinMarketCap

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.

However, RENDER has remained resilient, encountering another slight downturn before resuming its upward trajectory. As of this writing, RENDER is trading around $6.1, with a very slight price decrease over the last 24 hours.

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

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