AI

Bittensor (TAO) has captured the attention of the crypto market. The AI-based token surged by 164% in the last 30 days, positioning itself as one of the top-performing tokens in the AI sector. On October 7, TAO continued its rise, jumping 16% in 24 hours and hitting a high of $637.   Quick Take Bittensor (TAO) surged by 164% in September 2024, marking one of the strongest performances in the AI token sector. Grayscale’s Decentralized AI Fund significantly boosted TAO’s price by increasing its allocation, fueling strong market demand. TAO has now become the second-largest AI token by market capitalization after NEAR Protocol, surpassing several major competitors, including Internet Computer Protocol and Artificial Superintelligence Alliance. The token’s performance over the past month is impressive. TAO has gained 207% since hitting a low of $220 on September 7, peaking at $678 on October 7. This price is just shy of its all-time high of $767, reached in April 2024.   Grayscale Increases TAO Holdings to Over 30% in AI Fund Grayscale Decentralized AI Fund holdings | Source: Grayscale    TAO’s meteoric rise is closely tied to Grayscale’s Decentralized AI Fund. In July, Grayscale launched this new investment fund to focus on decentralized AI protocols, including Bittensor’s TAO. The real boost for TAO came two weeks ago when Grayscale increased its allocation in the fund from 2.6% to 27.6%, and by October 4, TAO accounted for 30.2% of the fund. This move pushed TAO ahead of other major AI tokens like NEAR Protocol and Filecoin, driving the price even higher.   TAO Trading Volume Rises Nearly 300% in September With TAO’s price rise came a significant uptick in its trading volume. Between September 7 and October 7, TAO’s trading volume surged 286%, signaling growing interest from traders. Market capitalization also saw a sharp increase, jumping from $1.7 billion to $4.7 billion, solidifying TAO’s position as the second-largest AI token by market cap.   AI Tokens’ Market Cap Surges By 40%  AI coins’ market cap and 24h trading volume | Source: CoinGecko    Bittensor’s rally isn’t happening in isolation. The broader AI crypto sector is on the rise. Tokens like NEAR Protocol (NEAR), Internet Computer (ICP), and The Graph (GRT) have also seen gains of 42%, 17%, and 28%, respectively, in the past month. The market value of AI and big data tokens has surged by nearly 49% over the last four weeks, reaching $36.9 billion before dipping to $28.1 billion at the time of writing. This reflects renewed investor confidence in the AI sector.   Read more: Top 15 AI Crypto Coins to Know in 2024   TAO’s Strong Investor Interest Supported by BTC Rally The rally in TAO mirrors the broader recovery of the crypto market, particularly Bitcoin (BTC), which saw a 21% jump between September 6 and October 7. As crypto investors regained confidence, AI-based tokens like TAO benefited from the momentum.   Sentiment data suggests that investors have turned bullish on AI tokens. Bittensor’s rise in Grayscale’s Decentralized AI Fund has further cemented its position as a key player in the AI sector. TAO is now on the radar of institutional investors and retail traders alike.   How High Can Bittensor Price Go? TAO/USDT price chart | Source: KuCoin   With TAO’s current trajectory, the question remains whether it can sustain its rally. Despite nearing its all-time high of $757.60, optimism in the market remains high. The continued rise in trading volume and investor interest suggests that TAO could break new records in the coming weeks.   However, like all crypto assets, TAO’s future performance will depend on various factors, including overall market conditions and sentiment shifts. As with any asset experiencing such rapid gains, investors should remain cautious of potential price corrections.   Conclusion Bittensor (TAO) is leading the AI token rally with impressive gains, driven by increased exposure in Grayscale’s Decentralized AI Fund and growing interest in AI-based tokens. While TAO shows strong momentum, it’s essential for traders to watch for potential resistance as it nears its all-time high.   Whether TAO continues its upward trend or faces a correction, its rise reflects the increasing focus on AI and big data projects within the crypto market. However, as with any high-performing asset, there is always a risk of volatility. Investors should exercise caution and be prepared for potential price fluctuations in the short term. Read more: Top AI Crypto Projects Across Leading Sectors in 2024

TAO$462,97-1,32 %

NEAR Protocol celebrates a major milestone with the launch of its first real-world assets (RWA) product (ETP) in collaboration with Valour. The integration of RWAs, AI advancements, and decentralized physical infrastructure networks (DePIN) positions NEAR for promising long-term growth despite short-term bearish sentiment.   Quick Take  NEAR Protocol celebrates its first RWA ETP with partner Valour. Valour's NEAR ETP is the first of its kind, available on Sweden’s Spotlight spot market. The protocol is exploring RWAs, AI, and DePIN for growth. NEAR's token sees a 25% increase in the last seven days, currently trading at $6.08. NEAR Protocol’s Real-World Assets (RWA) Milestone: Valour’s New ETP  Valour, an issuer of digital assets ETPs, has launched the first ETP supported by NEAR Protocol. This groundbreaking product is now available for trading on Sweden’s Spotlight spot market. This development highlights a significant step for NEAR towards integrating RWAs into the blockchain ecosystem.   Valour’s new ETP for NEAR adds to its growing list of crypto ETPs, including products for Solana, Cardano, and Polkadot. Valour’s ETPs offer investors exposure to various blockchain ecosystems, enhancing their participation in the digital finance future.   The integration of RWAs on the blockchain is seen as a pivotal move for the next bullish wave in the crypto market. It has the potential to push blockchain technology deeper into mainstream adoption. NEAR’s foray into RWAs, AI, and DePIN showcases its commitment to expanding its growth avenues.   Beyond RWA: NEAR Ventures Into AI and Inclusion in Grayscale’s AI Fund NEAR Protocol is not just stopping at RWAs. The protocol is also venturing into the AI segment, another critical area poised for growth. This multifaceted approach positions NEAR at the forefront of technological advancements in the blockchain space.   NEAR is making strides in the AI ecosystem. The protocol’s open and decentralized framework places user control at the forefront, earning recognition from Grayscale’s AI Fund. NEAR’s focus on AI integration underscores its commitment to staying ahead in the blockchain innovation curve.   The NEAR team has emphasized the integration of AI through an open and decentralized framework, which places user control over data and assets at the forefront. This has garnered recognition, as NEAR has been announced as part of Grayscale’s AI Fund. The fund’s component assets and weightings include Bittensor at 2.92%, Filecoin at 30.59%, Livepeer at 8.64%, NEAR at 32.99%, and Render at 24.86%.   Why Is Pantera Capital’s Managing Partner Bullish on NEAR Protocol?  NEAR, the native token of the Layer 1 (L1) blockchain Near Protocol, has surged to a one-month high after breaking out of a previous downtrend that saw the token hit a low of $4 on July 5. Currently trading at $6.08, NEAR has recorded a substantial 25% gain over the past week, propelling it to the 17th position among the top 100 cryptocurrencies.   This positive momentum has drawn the attention of venture capital firm Pantera Capital, whose Managing Partner, Paul Veradittakit, has shared several reasons for the firm’s bullish stance on NEAR’s protocol and its growth potential, in a news report on NewsBTC.   Veradittakit took to social media on Thursday to highlight NEAR’s value proposition within the blockchain ecosystem. He noted that while Bitcoin (BTC) and Ethereum (ETH) have been at the forefront of the crypto technology “revolution,” both face “challenges” related to transaction scalability. According to Pantera’s MP, this is where NEAR Protocol plays a key role in addressing these scalability issues while prioritizing developer engagement and user experience by offering a scalable and user-centric blockchain solution.   NEAR distinguishes itself with its Thresholded Proof of Stake (TPoS) system and Nightshade sharding, which increases scalability and decentralization. These advancements have paved the way for NEAR to achieve significant milestones, such as reaching $335 million in Total Value Locked (TVL), an increase of 547% in just six months.   According to Veradittakit, such growth demonstrates NEAR’s traction and strategic effectiveness in the market. Furthermore, NEAR’s market presence is fortified by key metrics, including a 42% quarter-on-quarter increase in daily active addresses, a surge in transactions from 35 million to over 220 million, and a substantial rise in monthly active users from 2.9 million to 15 million.   Lastly, Veradittakit emphasized that NEAR’s success can be attributed to the leadership of its co-founders, Illia Polosukhin and Alexander Skidanov. Their expertise in AI and engineering has been instrumental in developing NEAR’s infrastructure, driving its market presence and technological advancements.   NEAR Price Analysis: 25% Gains in 1 Week NEAR/USDT price chart | Source: KuCoin    NEAR’s strategic initiatives are likely to impact its long-term price positively. Over the past week, NEAR’s token has surged by 25%, reaching $6.08 at press time. Despite the bullish momentum, market sentiment currently leans towards the bears, with 528,000 shorts against 263,000 longs on Binance.   NEAR price analysis | Source: Hyblockcapital   Despite reaching a monthly high of $6.44 and a substantial 300% gain year-to-date, the token will need to break above the $8.28 level in the short term to break out of its downtrend structure. However, with these advancements and the adoption of AI-related tokens, NEAR may be poised for further gains throughout the year, helped along by the broader market’s recovery.   Conclusion  NEAR Protocol’s recent achievements represent a noteworthy milestone in the blockchain industry. With its pioneering ETP, ongoing technological advancements, and strategic focus on RWAs, AI, and DePIN, NEAR is positioned for potential long-term growth. The protocol’s commitment to innovation and scalability distinguishes it in the crypto market. As NEAR continues to evolve, investors and stakeholders can anticipate further developments. However, it is essential to remain aware of the inherent risks and market volatility associated with cryptocurrency investments.  

Masa, a decentralized AI network, has launched an AI Data Subnet on Bittensor, revolutionizing the decentralized production of artificial intelligence. This strategic move enables Masa to utilize Bittensor’s peer-to-peer machine intelligence network to enhance AI data aggregation, transformation, and access.   Quick Take Masa introduces its AI Data Subnet on Bittensor, leveraging the decentralized network to enhance AI data aggregation, transformation, and access. Masa pioneers a dual-token reward structure in the Bittensor Subnet Ecosystem, offering rewards in $MASA and $TAO to incentivize contributors. Bittensor's native token, TAO, has seen a price increase of over 10% in the past 24 hours, reflecting growing interest and investment in AI and blockchain integration. Masa Joins Bittensor’s $10B Ecosystem Since its launch in March 2023, Bittensor has built a $10 billion AI ecosystem. Institutional validators like Foundry and Polychain have collectively staked $1.8 billion worth of $TAO. Bittensor’s network operates through specialized sub-networks, each dedicated to different AI areas. With its sophisticated TAO economic model, Bittensor incentivizes high-value AI subnets, making it a key player in decentralized AI (DeAI).   Masa is a decentralized AI network where people earn by contributing data. AI developers can build anything, anywhere with the world’s data. Masa allows global contributions of data and compute for AI development without centralized control. Contributors, including validators and workers, earn rewards based on the value they add to the network. This game-theoretical framework ensures an effective system that drives growth and the equitable expansion of Fair AI.   Masa and Bittensor communities can run a Masa worker node from low-power devices, contributing compute and bandwidth from anywhere. This broad participation ensures a decentralized and fair contribution to AI development.   Masa’s Impact on Bittensor Bittensor circulating supply and trading volume | Source: Benzinga    Masa’s ecosystem, with over 1.6 million contributors and 100 developers, is expected to significantly enhance Bittensor's performance and utility. Brendan Playford, Co-founder of Masa, believes that Bittensor’s potential could surpass Ethereum’s growth due to the rapid expansion of Decentralized AI.   TAO Price Spikes by Over 10%  TAO/USDT price chart | Source: KuCoin    TAO’s price increased by 15.02% over the past 24 hours to $262.59. Despite a 7.0% loss over the past week, the current market cap ranking for TAO is #50 at $1.84 billion. The trading volume has increased by 87.0% over the past week, with a circulating supply of over 7.02 million. TAO’s bullish structure over the past week reflects the growth and interest in AI tokens within the cryptocurrency market.   Masa’s Dual-Token Reward Structure Masa’s token, $MASA, becomes the first and only live token in the Bittensor ecosystem. Masa Protocol and Bittensor Subnet participants can earn dual-token staking rewards in $MASA and $TAO. The Masa Foundation will use TAO from operating the subnet to support $MASA through buybacks or distributions.   Democratizing AI Development Masa provides real-time and static data critical for AI development from various sources like Twitter, Discord, and Google Search. Real-time data can be used for building robust datasets or directly in system prompts. Static datasets, constantly updated and stored by subnet workers, fuel Retrieval Augmented Generation (RAG) in AI agents.   Masa’s annotated data sets are processed using fine-tuned LLMs trained on various formats, delivering high-quality outputs. AI developers use Masa data for diverse applications, such as capturing trading signals and building hyper-personalized AI companions.   Masa has raised $18 million, backed by DCG, Anagram, Republic Digital, and Animoca, and was incubated by Binance and Hashkey.   Crypto Market’s AI Sector Expected to Cross $10B by 2030 The launch of Masa’s subnet has generated momentum in decentralized AI. Evan Malanga, VP Strategy at DCG, supports Masa’s advancement in decentralized and broader AI development. This aligns with DCG’s belief in the power of decentralized technologies.   The AI sector in the crypto industry is projected to reach $10.2 billion in revenue by 2030. Centralized AI is expected to hold a market share value of $1.8 trillion by 2030. However, there is a clear demand for decentralized players to prevent monopolization by centralized entities.   Conclusion The collaboration between Masa and Bittensor could introduce advancements in decentralized AI development. Masa’s dual-token reward structure is designed to democratize AI and promote an equitable contribution system. As the AI sector expands, Masa’s involvement with Bittensor and its impact on the broader AI community is expected to be notable, potentially fostering a future where AI development is community-driven. However, as with any emerging technology, there are inherent risks and uncertainties. It is important for stakeholders to stay informed and carefully consider these factors when engaging with decentralized AI projects.  

As the crypto market gears up for what could be the biggest bull run in history, investors are focusing on promising altcoins. Among the top contenders are Kaspa (KAS), NEAR Protocol (NEAR), Solana (SOL), Toncoin (TON), and TRON (TRX). These projects are capturing investor interest and showing serious potential for massive gains.   Quick Take  Kaspa (KAS) reached an all-time high, showcasing strong investor interest and a bullish outlook for its future. NEAR Protocol (NEAR) is driving growth with AI-focused initiatives, enhancing its technological capabilities and user experience. Solana (SOL) maintains stability with swift transaction processing and solid infrastructure, attracting a robust developer and investor base. Toncoin (TON) offers scalability and ease of use, being created by Telegram and favored for its low transaction costs. TRON (TRX) is a prominent player in decentralized digital entertainment, consistently growing its network activity and value. Kaspa (KAS) Hits a New All-Time High KAS/USDT price chart | Source: KuCoin    Kaspa (KAS) is making waves with its privacy-focused blockchain platform. On June 30, Kaspa hit an all-time high price of $0.19. This peak highlighted significant investor interest, signaling Kaspa’s path to major growth this year.   Kaspa’s unique attributes include fast transaction speeds and efficient, stateless money solutions. The platform also boasts a rising hash rate and a growing number of miners, indicating increasing interest and profitability in mining Kaspa. Recently, Marathon Digital announced its intention to mine $16 million worth of KAS, further boosting confidence in Kaspa’s future prospects.   Despite a recent correction, Kaspa remains robust with a strong buying pressure indicated by its RSI. Analysts project Kaspa could see a 100x increase from its current price, potentially reaching $18 by June 2029. This optimism is fueled by significant institutional inflows from entities like Fidelity and Ark Investment, indicating a strong foundation for future growth.    NEAR Protocol (NEAR) Focusing on AI NEAR Protocol crosses 450 million transactions | Source: Flipside on X   NEAR Protocol (NEAR) has seen substantial growth in token price and transaction volumes since early 2024. The launch of innovative features like Chain Signatures and the integration of HERE Wallet with Telegram have significantly enhanced NEAR Protocol’s accessibility and user experience.   NEAR Protocol’s focus on AI has been a key driver of its growth. Initiatives like the NEAR.AI R&D Lab aim to improve consensus algorithms, enhance security, and introduce new economic models. These advancements make NEAR Protocol a standout in the blockchain space.   With over 450 million transactions and 12.3 million unique addresses, NEAR Protocol has captured significant market attention. The recent surge in transactions and new addresses has positively impacted NEAR’s price, positioning it for potential upward movement. The Money Flow Index and MACD indicators suggest a bullish trend, with increased user engagement driving market sentiment.   Solana (SOL): The Top Challenger to Ethereum  Solana (SOL) is known for its swift transaction processing and solid infrastructure. As a Layer 1 solution, Solana has built a large following, showcased by its vibrant ecosystem and the increasing number of developers crafting decentralized apps.   Despite recent market fluctuations, Solana has maintained a stable price. It currently stands at $141, reflecting a 5% rise since yesterday and a substantial 612% increase over the last year. Solana's position as the fifth-largest cryptocurrency by market cap highlights its significant investor trust and potential for further gains this summer.    ​​The Coinmarketcap H1 2024 report reveals that Solana has surpassed Ethereum in daily active addresses, reaching over 1.6 million in June 2024 compared to Ethereum's 450,000. This shift is driven by the rising popularity of Solana's memecoins. Solana's ecosystem has seen faster growth in new token listings and significant gains in its memecoin market cap, highlighting its growing influence.    Read more: Solana Flips Ethereum in Dai;y Active Addresses in June: CMC H1 2024 Report    The potential launch of a spot Solana ETF could further drive its value. If approved, such an ETF could push Solana’s price up to $1,300, mirroring the financial trajectory seen with Bitcoin’s own ETF developments. This anticipated approval underscores the growing institutional interest in Solana and its long-term potential.   Read more: VanEck Files for First Solana ETF in the U.S.: A Potential Game Changer?    Jump Crypto is offering a bug bounty program for the upcoming Firedancer validator client, with a reward pool of $1 million paid in USDC. Participants have a chance to earn up to $1 million by finding bugs in Firedancer, aimed at improving Solana's network performance. Firedancer, led by Cantelope Peel, is expected to play a crucial role in Solana's network by processing transactions efficiently. Implemented in C and C++, Firedancer aims to increase the speed of the Solana network and is actively being tested for optimal performance.   Toncoin (TON): Boosting Web3 Adoption with Telegram Games Toncoin spot volume rises | Source: Santiment   Toncoin (TON), created by Telegram, offers advanced layer-1 infrastructure with low transaction costs and quick processing speeds. This platform caters effectively to a broad audience, distinguishing itself through its scalability and ease of use. The Open Network (TON) has enjoyed a surge in TVL and adoption amid the rising popularity of Telegram-based crypto games, including Notcoin, Hamster Kombat, TapSwap, and Pixelverse. Boasting millions of players, each of these games has the potential to onboard several web2 users into the web3 world. The TON blockchain’s integration with Telegram helps the ecosystem enjoy the most uptick as these games move into the crypto space and launch their respective tokens. While Notcoin had around 35 million players at the time of the NOT token launch, Hamster Kombat already boasts over 239 million users before the upcoming HMSTR TGE and airdrop.    The price of Toncoin is currently $7.59, with a 5% increase within the last day and a 4% gain this month. Over the last year, Toncoin has surged by 451%, marking it as a promising investment. Toncoin's position as the eighth-largest cryptocurrency by market cap indicates its strong market trend and potential for high returns.   TRON (TRX): A Decentralized Entertainment Leader TRON’s average daily transactions climb steadily | Source: TRONScan    TRON (TRX) has emerged as a prominent player in the decentralized digital entertainment sector. Over the past year, TRON’s value has increased by 67%, drawing significant investor attention. The platform's expanding Total Value Locked (TVL) demonstrates its growing role in the decentralized finance (DeFi) ecosystem.   TRX trades at $0.13 with a market capitalization of $11 billion, positioning it as the 11th largest cryptocurrency. This strong market position reflects robust investor confidence and potential for further growth in the upcoming bull run.    Conclusion As the summer progresses, keep an eye on these altcoins. Their innovative approaches and expanding user bases could lead to significant market gains. However, always remember that investing in cryptocurrencies carries risks. Market volatility and macroeconomic factors can impact prices, so it's crucial to conduct thorough research and consider your risk tolerance before investing.  

In Q2 2024, the global crypto market cap took a hit, dropping 14.5% to $2.3 trillion, according to Coinmarketcap’s H1 2024 report. Despite this, the 24-hour trade volume soared by 223%, reaching $79.4 billion. The Crypto Fear and Greed Index stands at a neutral 49, showing a trend towards fear since Q1. Bitcoin's dominance remains strong at 53%, with no signs of an altcoin season. Liquidity has decreased by 18.5%, echoing a bearish phase within a broader bull market trend.   Quick Take Memecoins became the most popular crypto category in Q2 2024, accounting for 23% of page views on CoinMarketCap. The stablecoin sector grew by 8.6%, while AI and Big Data sectors saw a 2.5% increase. Ethena and Lista's launches significantly boosted the stablecoin sector. Solana's ecosystem added 20 new tokens in Q2, surpassing Ethereum's 14. Solana-based memecoins outperformed Ethereum-based ones, with returns of 8,469% compared to 962%. Political meme tokens, led by MAGA (TRUMP), gained prominence, with the total market cap reaching $784 million. The MAGA token alone surged over 5100% this year. The RWA sector, dominated by fiat-collateralized stablecoins, saw significant growth. Notable developments include Ethena's USDe, which increased its market cap by 934%, and BlackRock's BUIDL fund, which attracted $453 million in just three months. Memecoins, Stablecoins, and AI Drive Crypto Market Growth in Q2 2024 Most active sectors in the crypto market in Q2 2024 | Source: Coinmarketcap    Three sectors experienced positive growth in Q2: memecoins, stablecoins, and AI & Big Data. Memecoins, for the first time, have become the most popular category, accounting for 23% of page views.    The memecoin season of March and early April gave way to focus on stablecoins (+8.6%), AI, and Big Data (+2.5%). Ethena and Lista's launches bolstered the stablecoin sector. Tether's $4.52 billion profit in Q1 underscores the sector's profitability, attracting new projects. Conversely, the hype around AI has declined since its February peak, capturing only 6.4% of attention in June. Derivatives and stablecoins also saw moderate growth. The memecoin and AI & Big Data sectors are slowing, with many projects delisting.    Solana Overtakes Ethereum in the Memecoin Race  Solana vs. Ethereum memecoins | Source: Coinmarketcap    Solana's ecosystem has also gained significant attention, potentially challenging Ethereum's dominance. CoinMarketCap data reveals the Solana ecosystem is thriving, adding 20 new tokens in Q2, followed by Ethereum with 14 new tokens. Solana-based memecoins have outperformed Ethereum-based ones, returning an average of 8,469% compared to Ethereum's 962%. This trend is driven by speculative capital flows and the success of tokens like WIF and BONK.   In the Solana ecosystem, memecoins dominate, reflecting a speculative rush. Retail investors prefer quick gains over traditional projects, indicating an anti-establishment sentiment. This casino-like atmosphere contrasts with Ethereum's focus on Real World Assets (RWA) and AI, emphasizing practical applications and bridging traditional finance with blockchain.   PolitiFi Meme Tokens: Trump Leads the Pack Trump vs. Biden in the PolitiFi sector among memecoins | Source: Coinmarketcap    Political meme tokens (PolitiFi) have emerged as a significant subcategory, with a total market cap of $784 million. The leading token, MAGA (TRUMP), has gained over 5100% this year, fueled by Trump's vocal support for crypto and acceptance of crypto for campaign donations.   Real World Assets (RWA) Sector Fuels Stablecoin Growth  RWA sector and stablecoin market see growth | Source: Coinmarketcap    The RWA sector is experiencing significant growth, driven primarily by fiat-collateralized stablecoins, which now make up 96.6% of the total market cap in this category. Tether (USDT) remains the dominant force, consistently setting new market cap highs and serving as the base pair for almost 70% of spot trading volume on centralized exchanges (CEXs).   USDC has seen a notable resurgence, increasing its market cap by 32% in the first half of 2024. This growth is largely attributed to Circle's strategic push towards institutional clients and the launch of Coinbase International, which has brought increased volume to USDC in non-US markets.   A standout performer in the RWA sector is Ethena's USDe, launched in February 2024. This new stablecoin has already seen a 934% increase in market cap. Its high yield of 33.5% has attracted significant capital inflows, making it one of the fastest-growing assets in the sector. Despite the initial airdrop and the launch of its native token, ENA, USDe continues to draw considerable investor interest.   BlackRock's BUIDL fund, which launched on Ethereum in March 2024, leads tokenized funds in assets under management (AUM). The fund witnessed an impressive $453 million inflow in less than three months, highlighting the growing institutional interest in tokenized finance. Ondo Finance, the largest contributor to BUIDL, has been instrumental in this growth, adding $195 million to its AUM. Since its launch on January 18, ONDO has gained 634%, making it the leading coin in the RWA sector.   Despite this progress, the total value locked (TVL) in RWA protocols currently stands at $4.39 billion, still below the previous cycle's high of $6.37 billion. This gap suggests that there is ample room for further growth in the sector as it continues to mature and attract more institutional capital.   Conclusion: A Dynamic Quarter Q2 2024 has been marked by significant shifts in the crypto market. Despite a notable 14.5% drop in global market cap, the surge in 24-hour trade volume by 223% reflects a resilient trading environment. Bitcoin's dominance at 53% and the sustained bullish macro sentiment indicate the strength of institutional investment, yet retail engagement remains conspicuously low.   The stablecoin sector has shown robust growth, driven by new projects like Ethena and Lista, and Tether's substantial profits. Meanwhile, Solana's ecosystem has emerged as a formidable competitor to Ethereum, particularly in the memecoin space, where speculative investments are on the rise.   However, this quarter also highlights the market's vulnerabilities. The decline in liquidity by 18.5% and the trending fear sentiment underscore potential risks. Investors should remain cautious, as market conditions can shift rapidly. The decreasing interest in AI and the volatility of memecoins further add to the market's unpredictability.   As always, due diligence and a risk-aware approach are crucial for navigating the dynamic world of cryptocurrencies.  

Fetch.ai (FET) spearheaded a significant rally among AI-related cryptocurrencies, witnessing a rise of over 25%. This surge comes on the heels of Nvidia becoming the world's most valuable company, which has significantly influenced AI token markets.   Quick Take ​​FET price jumps by 25.39%, marking the largest gain among major AI-related tokens. Bittensor (TAO) rises by 19%, and Render (RNDR) sees a 13% increase, indicating a broader interest in AI tokens. Nvidia’s milestone as the world's most valuable company significantly boosts AI crypto interest, driving market activity. Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) to merge into the Artificial Superintelligence Alliance (ASI) on July 15, creating uncertainty for current FET investors. Fetch.ai (FET) Takes the Lead in Price Surge  FET/USDT price chart | Source: KuCoin    In the last 24 hours, Fetch.ai (FET) has experienced a notable 25.39% increase. This rise marks the largest gain among major AI-related tokens, based on data from CoinGecko. Following close behind, Bittensor (TAO) climbed over 19%, while Render (RNDR) saw a 13% rise. NEAR Protocol (NEAR) and Internet Computer (ICP) also showed gains, though less than 10%.   Fetch.ai (FET) investors face an uncertain future. The token will soon be part of the Artificial Superintelligence Alliance (ASI) through a merger with SingularityNET (AGIX) and Ocean Protocol (OCEAN). This merger is set to dissolve the individual tokens, creating ASI.   ASI: FET, AGIX, OCEAN Merger Details and Date The merger between Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) is scheduled for July 15. This significant event will see the formation of the Artificial Superintelligence Alliance (ASI). Starting July 16, users can begin swapping FET for ASI, with AGIX and OCEAN following suit two days after the merger completes.   Read more: Top 15 AI Crypto Coins to Watch in 2024   AI: The Hottest Sector According to Edward Wilson, an analyst at Nansen.ai, the AI sector is currently the hottest corner in both traditional and crypto markets. Wilson highlighted that Nvidia’s new status as the most valuable company has boosted interest in AI tokens. Nvidia’s share price reached an all-time high of over $136, driving this recent crypto rally.   Despite the excitement, some experts urge caution. Sergei Gorev, Risk Manager at YouHodler, emphasized the need for clarity amid the AI hype. He pointed out that market overreactions are common, citing past trends with 3D printers and electric vehicles. Gorev's comments suggest that while the AI narrative is compelling, investors should tread carefully.   Read more: Top AI Crypto Projects Across Leading Sectors in 2024   FET Technical Outlook  Fetch.ai’s price, currently at $1.2, is expected to consolidate within the $1.0 to $1.7 range. These levels have historically acted as support and resistance. Until the ASI formation in July, FET is likely to remain within these bounds.   The recent rally has not fully convinced FET investors. Despite the gains, FET’s price dropped from $2.2 to $1.2, affecting investor sentiment. Although some signs of HODLing are present, the overall outlook remains bearish-neutral.   Other AI Cryptos in Focus The AI crypto sector, with a total market cap of $28.5 billion and a trading volume of $1.6 billion, continues to draw attention. Notably, Synesis One (SNS), enqAI (ENQAI), and Chripley (CHRP) have shown significant gains.   Synesis One (SNS): Gained 30% in the last 24 hours, now trading at $0.024. enqAI (ENQAI): Rose 24%, currently priced at $0.027. Chirpley (CHRP): Achieved a 23% gain, now valued at $0.010. Conclusion While the recent AI crypto rally, led by Fetch.ai, presents promising gains, investors should be mindful of the volatility and underlying market sentiments. The upcoming merger into ASI adds another layer of uncertainty for FET holders. As always, careful consideration and staying informed are key to navigating these dynamic markets.