AI Tokens Surge After CoinGecko Report,But Concerns Loom
AI tokens saw a meaningful boost this weekend. Investors were buying after a CoinGecko report highlighted AI as a top crypto theme. AI Companions (AIC) tokens soared over 40% to $0.2120,its highest since March 30.
Artificial Superintelligence Alliance (FET) also performed well, rising for four straight weeks to $0.5730. Render (RNDR) tokens hit $4.32, up from its year-to-date low. Worldcoin (WLD) and Tars AI saw gains of 7% and 60%, respectively. The total market cap of AI tokens tracked by CoinGecko rose 5.6% to $22.20 billion.
However, the AI theme may be losing steam.Popular AI stocks like NVIDIA and AMD have dropped over 20% from their peaks.AI tokens like Render and AIC have fallen more than 50% from their highs this year.
Concerns include Microsoft pausing data center expansion and an oversupply of AI models. While US models like ChatGPT are popular, China has many, including Baidu Ernie. it’s unclear if AI tokens will keep rising. A strong Bitcoin (BTC) rebound could help altcoins, including AI tokens.
