Here’s a numbered version of the update on AI tokens:
1. Market Volatility: In October 2024, the AI and big data token market saw a sharp decline, with a $4.69 billion drop in the first three days. The market capitalization fell from $38.82 billion to $34.13 billion, signaling increased volatility.
2. Top AI Tokens by Market Capitalization:
Render (RNDR): $2.8 billion
Injective Protocol (INJ): $2.1 billion
The Graph (GRT): $1.68 billion.
3. Other Notable AI Tokens:
Theta Network (THETA): $1.35 billion
Ocean Protocol (OCEAN): $644 million
Zignaly (ZIG): $198 million.
4. External Market Pressures: The decline is attributed to factors like geopolitical tensions, increased regulatory scrutiny, and macroeconomic challenges such as inflation and rising interest rates.
5. Outlook: Despite the current dip, analysts expect the AI token market to recover in the coming months, as historically, the last quarter of the year tends to see stronger performance.