Artificial Intelligence DApps are currently dominating the broader Web3 market, contributing 28%, DAppRadar report notes.
As per Statista data, the global artificial intelligence market was worth $200 billion in 2023.
The crypto fear & greed index powered by CoinMarketCap is 43 suggesting neutrality.
AI-supported DApps have topped the market in the past few quarters, attracting significant customers.
After the hustle of decades, cryptocurrencies have positioned them as one of the strongest contenders for traditional currency. Several crypto projects are leveraging artificial intelligence (AI) to make their operations more convenient.
Artificial Intelligence DApps are currently dominating the broader Web3 market, contributing 28% to daily activities on DApps, as per the July 2024 DApp industry report of DAppRadar.
The report states that the blockchain and Web3 gaming sector has seen a decline in fuel as DApps have led the market for the past year.
Gaming is still a crucial part of Web3, but compared to 2023, the sector lost its dominance and now holds 26% of the market. Decentralized gaming applications use blockchain technology to offer a more unique gaming experience than traditional gaming companies.
Artificial Intelligence Usage in Crypto Market
In the early days, artificial intelligence was considered Bane due to its uniqueness, and there was speculation that it might take human jobs.
However, over time, the advancement in AI has changed speculative thought, and now, it is primarily leveraged by almost every industry and sector.
There are several companies in the cryptocurrency space that offer AI-powered bots that help analyze the market and execute transactions based on predefined criteria.
In the broader market, dozens of software and tools utilize AI to predict market trends, manage trading portfolios, and several other uses.
According to Statista’s data, the market capitalization of the global artificial market was worth $200 billion in 2023. The market cap is expected to reach $1.8 Trillion by the end of 2030.
As per primary claims, Artificial Intelligence can detect and prevent fraudulent activities and enhance the ecosystem’s security in cryptocurrencies.
Crypto Market Price Alert
In the past 24 hours, the global cryptocurrency market has reflected strong bulls control directing market capitalization to $2.03 Trillion.
The crypto fear & greed index powered by CoinMarketCap is 43 suggesting neutrality. But as per the market observers, there is FOMO in the market pushing investors not to invest.
Bitcoin price added 4.58% reaching $57,509. Although it lost 38.72% to its intraday trading volume reaching 44.58 billion making it the 2nd most traded in the market.
In the past 30 days, BTC highest traded at $69,987 and its lowest recorded trading price is $49,121. It is crucial to note that it achieved its highest trading price of $57,396 on March 14, 2024.
Zcash (ZEC) price surged 5.03% in the past 7 days, making it the weekly topper. Helium (HNT) is trading at $4.97 and UNUS SED LEO (LEO) is valued at $5.73, after adding 1.02% weekly.
