In response to the current bullish market sentiment, investors are redirecting their attention to alternative cryptocurrencies, particularly those in the big data and artificial intelligence (AI) sectors. CoinMarketCap (CMC) data reveals that the top five gainers among the leading 100 cryptocurrencies are all affiliated with big data and AI, experiencing double-digit growth.
Leading the pack is Fetch.ai (FET), boasting a remarkable 38.26% surge over the past 24 hours, currently trading at $2.74. Its market capitalization has surged to $2.28 billion, securing its position as the 50th-largest digital currency.
Similarly, Render (RNDR) has recorded a substantial 37% gain within the last day, with its current trading value standing at $10.04. Near Protocol’s native token, NEAR, has also demonstrated significant growth, experiencing a 35.37% increase in the past 24 hours and now trading at $5.73.
SingularityNET (AGIX) secured the fourth spot on the list, witnessing a 25.91% surge in the past day and currently trading at $1.15. The native token of the Akash Network, AKT, made its mark with a 17.22% gain in 24 hours, presently trading at $5.26 and boasting a total market cap of $1.2 billion.
This surge in AI token prices aligns with investors’ shifting focus towards altcoins, resulting in a notable 15.5% increase in the total market capitalization of big data and AI cryptos, reaching $37.36 billion. According to CMC data, the global cryptocurrency market cap experienced a 0.6% increase in the past 24 hours, now standing at $2.5 trillion.
However, Bitcoin‘s (BTC) dominance dipped from 50.1% to 49.7% over the last day, indicating a trend where investors are diversifying their portfolios by accumulating more altcoins compared to the flagship digital currency.
