How will artificial intelligence-based cryptocurrencies be affected by the rise of Bitcoin?

The first week of May has been distinctly bullish for the crypto and AI coin market, with Bitcoin rallying from $56,500 to $65,223. The recent increased buying interest in US-listed #Bitcoin ETFs has played a major role in the recent rally, simultaneously supporting the altcoin market as it recouped previous losses.

In the current recovery sentiment, AI-related tokens were among the top gainers today, highlighting their ability to provide rapid movement in a new range in market dynamics. According to Coinmarketcap, leading assets in this sector reached $37.9 billion, reflecting a daily increase of 7.3%.

Over the past 24 hours, leading AI tokens such as The Graph (GRT), Fetcai (FET), and SingularityNet (AGIX) have exhibited double-digit gains, offering new long opportunities to momentum traders.

#TheGraph (GRT) is a decentralized and open source indexing protocol for blockchain data, allowing applications to query networks like Ethereum with the speed and efficiency of a traditional database.

GRT, the native cryptocurrency on the Graph network, has been in a bull market for the last six days, with its price rising from $0.22 to $0.3, a record 36% increase. This recovery increased Graph's market value to $2.83, while the 24-hour trading volume was recorded as $152.8 million.

If the uptrend continues, buyers could sustain a rally to $0.35, then $0.428, and the potential target of $0.4 Fetc.ai is a blockchain-based platform that aims to revolutionize the functioning of digital economies and data-driven markets using artificial intelligence (AI) ) and machine learning (ML).

#SingularityNET is a decentralized platform designed to facilitate the creation, sharing and monetization of artificial intelligence (AI) services at scale. During the current market recovery, AGIX price formed a new higher low at $0.756, indicating an early trend reversal.