AI-Focused Tokens Leading Their Way Higher across Smart Contract Universe

The AI-focused crypto-economy is booming. Global investments in AI are expected to reach about 200 billion dollars by 2025. In this respect, the last month was marked by an impressive growth of the AI-focused cryptocurrencies: the volume of the AI-oriented cryptocurrency sector grew by $2 billion in less than 2 weeks. The main contributor to this growth was the bittensor token (TAO), which soared 86.5% in the last two weeks.

All six leading AI tokens showed double-digit percentage growth during the period. As mentioned above, the leader was TAO token, which showed a truly dizzying growth of 207% over the past 30 days. It was followed by fetch (FET), which grew by 46.34%, and covalent (CQT), which grew by 41.91% against USD over the same period.

Also in the past month, graph (GRT) rose 35%, and singularitynet (AGIX) advanced by 28%. As of 13 days ago, on November 17, 2023, the value of the AI-focused crypto economy was $3.32 billion. That's a recovery to previous levels reached in three months, adding roughly $720 million from July's low of $2.6 billion.

In just the past two weeks, the sector has gained an impressive $1.97 billion. The biggest contributor to such a company was a fresh, but already well noted in infospace, startup TAO, which at an initial market value of $329 million on October 29 showed a rise to the current $1.297 billion. Cortex (CTXC) also made a significant contribution to the entire AI cluster, rising from 17th to 11th place in terms of market capitalization on Coinmarketcap and Coingecko.