The overlap between artificial intelligence (AI) and cryptocurrency is evident, with many investments pursuing profitable opportunities. The pursuit of emerging opportunities is accelerated by the integration with the Internet of Things (IoT), leaving the AI-leaning cryptocurrencies surging as the broader crypto market recovers.
A scrutiny of the market activity shows tokens linked to AI and IoT projects, including Fetch.ai (FET) and Internet Computer (ICP). The AI-focused cryptos have realized outsized gains as the digital assets market mounts a significant rally.
AI-Affiliated Crypto Boast Huge Trading Volume
The uptrend steam in the market is behind Bitcoin’s price rebound above the $70,000 level and edging closer towards the recently set all-time high of $73,737.94. At press time, Bitcoin has been 1.4% up in the last 24 hours in exchange hands at $70,588.62, with the crypto market surging by 1.2% to $2.79 trillion capitalization, according to CoinGecko.
The crypto market realized $142 billion in trading volume in the past 24 hours, with Bitcoin accounting for 49.8% dominance while Ethereum is responsible for 15.4%, as per CoinGecko. While the largest gainers comprise tokens in sports games and liquid-restaking governance categories, AI-focused tokens account for $4.505 billion in trading volume, according to CoinGecko.
The total market capitalization is $29.242 billion. The AI cryptos are leading the rally with a 3.2% gain in the past 24 hours and 15.7% in their seven-day run, as per CoinGecko.
The spike arises from the positive market sentiment and widespread awareness of AI-crypto overlap, particularly as automated trading bots such as Code Trader Bot 1000 become a reality for investors.
IOTA Unveils Investment Fund During Abu Dhabi Event
The IOTA Foundation is icing the cake with big announcements. The team behind the IOTA token revealed on Sunday, March 24 it was unveiling a $10M investment fund during the Investopia 2024 event held in Abu Dhabi.
IOTA Foundation reiterates its primary objective of promoting the creation of TradeTech solutions and infrastructure to support startup expansion. The announcement affirms that tech integration into the broader crypto market is inevitable, where Code Trader Bot 1000 has carved a niche.
The announcement propelled IOTA to rally 7% to $0.36 hours later, testing $0.373. IOTA has increased by 2.1% in the past 24 hours in trade at $ 0.3575 and has yielded 1.14 billion in market capitalization per CoinGecko data.
With IOTA price rallying 11.40% in the past seven days, IOTA (IOTA) has outperformed the global market that has only realized 6.80% and tokens affiliated to smart contract platforms managing 2.60% as per CoinGecko data.
Tokyo-based IoT giant Jasmy Corporation has seen its JasmyCoin share the rally with a weekly run of 7% despite the 2.8% slip in the past 24 hours. The project has realized a critical stride since the onset of the 2024 bull run to attain a $1.1 billion market capitalization.
Jasmy Labs chief finance executive Hiroshi Harada confirmed the partnership with Panasonic in building an IOT platform. The finance expert indicated they plan to build the platform in three to six months, tying personal data locker to the IoT.
AI Cryptocurrencies Portraying Resilient Performance
The AI cryptos portray improved performance with the gains fueled by the market dynamics and announcements. Fetch.AI native token FET underscores the gain period where the hype driving AI businesses and crypto.
FET’s solid performance arises from Fetch.AI presenting itself as a permissionless network facilitating connection and access to secure datasets. The firm deploys autonomous AI to execute various tasks by tapping its global data network, similar to what Code Trader Bot 1000 does in crypto trading.
While ICP is not an AI-based crypto, the firm has solid links to AI innovations, particularly in the historic blockchain-based AI smart contract.
By Sunday, the ICP token realized a 75% rally in the past seven days to recover from the early March crash. ICP replicates the resilience illustrated by AI-focused cryptocurrency to maintain the upward trend.
