In recent weeks, the cryptocurrency market has witnessed a remarkable surge in the trading volume of AI-related crypto assets, with trading activities crossing the $3 billion mark. Kaiko, a renowned on-chain analytics firm, reported this significant increase, highlighting the prominent role played by AI-focused projects such as Render (RNDR), Worldcoin (WLD), and Fetch.ai (FET) in driving this surge.
Trading volume soars past $3 billion
Kaiko’s data reveals that the trading volume of AI tokens has been steadily increasing since mid-October, with a particularly noteworthy surge in November. At the beginning of October, the cumulative weekly trading volume of AI tokens was below $1 billion. However, in the following weeks, it skyrocketed, surpassing a staggering 200% increase to reach over $3 billion by November.
The chart accompanying Kaiko’s announcement indicated that early November marked the peak of trading activities in the past four months, with AI token trading volume surpassing the $3 billion milestone. Subsequently, the volume has fluctuated within the range of $2 billion to $3 billion.
Worldcoin (WLD) takes the lead
One of the standout projects contributing to this surge in trading volume is Worldcoin (WLD), a cryptocurrency project associated with Sam Altman, the CEO of OpenAI. Altman’s reinstatement as OpenAI CEO in the third week of November appears to have contributed to the increased interest in WLD. The token has commanded a significant share of trading activities in recent weeks, solidifying its position in the AI token market.
Furthermore, Kaiko’s data suggests that Worldcoin has been a leader in the AI token market since its inception in July. Its consistent performance and association with the AI industry have made it a key player in driving the overall market growth.
RNDR and FET compete closely
In addition to Worldcoin, two other projects have been competing closely in the AI token market’s trading activities—Render (RNDR) and Fetch.ai (FET). RNDR, in particular, has demonstrated strong performance in October and November, vying for a top spot alongside WLD. The competition between these projects highlights the growing interest in AI-related crypto assets and their potential for significant returns.
As for Fetch.ai (FET), it follows closely behind WLD and RNDR in the ranking. According to CoinMarketCap statistics, FET commands a valuation of over $435 million, with a market price of $0.5312. This places it among the notable players in the AI token market, further contributing to the market’s impressive $3 billion trading volume.
Collective market share exceeds $10 billion
The AI-focused cryptocurrency projects collectively boast a substantial market share, exceeding $10 billion, according to data from CoinMarketCap. This figure underscores the growing interest and confidence investors have in AI-related crypto assets. As AI technology continues to advance and gain traction in various industries, these projects are positioned to play a pivotal role in shaping the future of both AI and blockchain technologies.
The AI token market has experienced a remarkable surge in trading volume, crossing the $3 billion threshold. Key players like Worldcoin (WLD), Render (RNDR), and Fetch.ai (FET) have been instrumental in driving this growth, with Worldcoin taking the lead, closely followed by RNDR and FET. The collective market share of AI-focused projects now exceeds $10 billion, reflecting the increasing confidence in the potential of AI-related crypto assets. As the AI industry continues to evolve and expand, these projects are likely to remain at the forefront of innovation in the cryptocurrency space, attracting both investors and enthusiasts alike.
