AI Tokens Are Surging Again as Bitcoin Leads Crypto Market Recovery
Crypto tokens linked to artificial intelligence (AI) are experiencing a resurgence, driven by Bitcoin's recovery from a low of $75,000 to over $95,000. Several AI tokens have surged more than 40% in the past week, with Virtuals Protocol’s VIRTUAL and Eliza OS’s AI16Z tokens rising 123% and 89%, respectively. Despite these gains, both tokens remain significantly below their all-time highs, down 71% and 87%. The overall AI Agent market cap has doubled in three weeks, increasing from $4.5 billion to $9.06 billion. Notable movements include AIXBT, which gained 73% but is still 82% off its January peak. Blockchains like Bittensor and Near Protocol have also seen increases. The market's growth lacks a clear catalyst, but ongoing development and investment in the sector continue. The broader AI category's market cap has reached nearly $26 billion, with Bitcoin and Ethereum gaining 4% and 7.6%, respectively.
