On August 9, the AI crypto sector, composed of digital assets that combine blockchain with artificial intelligence, recorded a rally of over 5%. Essentially, AI coins function as the native token that powers AI-based protocols. Basically, these coins serve various purposes, including ecosystem rewards and acting as the digital currency for decentralized AI markets.
During the week so far, the top 15 AI cryptocurrencies by market capitalization showed positive results, with most navigating the current intraday market. Bittensor (TAO) maintained its position at the top of the AI crypto sector, rising over 15% in the last seven days to trade at $387.
The upward movement of TAO is primarily driven by recent growth in institutional accumulation. In the last month, corporate holders of xTAO and TAO have added assets worth over $16 million to their coffers.
Ranked second in the AI sector, NEAR Protocol (NEAR) grew over 18% last week, bringing its price to $2.79 at the time of writing. Internet Computer (ICP) and Render (RNDR) followed with weekly gains of 14.23% and 16.18%, respectively.
Here are the other AI cryptocurrencies that make up the top ten, according to data from CoinMarketCap:
▫️Story (IP): Currently trading at $6.42, up 10.79% this week.
▫️Filecoin (FIL): Holds around $2.63 after a weekly increase of 15.69%.
▫️Artificial Superintelligence Alliance (FET): Valued at $0.71 after a rise of 16.24% in the last week.
▫️Injective (INJ): Priced at $14.65, driven by a jump of 20.13% this week.
▫️The Graph (GRT): Changes hands at $0.099, with a rise of 13.45%.
▫️Virtuals Protocol (VIRTUAL): Rose 20.95% on its 7-day chart, reaching $1.41.
In eleventh place is Theta Network (THETA), which recorded an increase of 18.85%. This rise was partly driven by the recent adoption of Theta Network's hybrid platform EdgeCloud for AI agent research by Yonsei University.
