AI Tokens Market Performance
AI-related tokens have posted an average return of 37% over the past seven days, according to Artemis data. That’s more than double the average market gain of 15.9% over the same period. The main driver of this growth has been Bittensor (TAO) tokens, which have surged 86.2%.
Additionally, 11 AI-related tokens achieved double-digit gains, surpassing 20% in the same period. Artificial Superintelligence Alliance (ASI) and Render (RENDER) tokens took the second and third spots in terms of weekly returns, growing by 31% and 30.3%, respectively.
24 hour gains
AI tokens have seen a 10.5% gain over the past 24 hours, reflecting a performance that is more than three times the average market gain of 3.7% over the same period.
Best performing sectors
Of the 22 crypto sectors tracked by Artemis, 9 outperformed the market average. Data service-related tokens, such as Celestia (TIA) and Dymension (DYM), posted weekly gains of 27.1% and 33.6%, respectively.
Real-world asset (RWA) and gaming tokens also rose by around 22.5%, making it among the top five performing areas of the weekly market.
poor performance
On the other hand, native tokens of decentralized applications, such as Uniswap (UNI) and Jupiter (JUP), have recorded a weekly gain of 15%, putting them 0.9% below the market average. Despite being the best performing cryptocurrency during the first quarter, memecoins have seen an average gain of 11.1% over the past seven days, which is about 5% below the market average.
concentrated liquidity in the markets
A report from Kaiko on September 23 noted a clear disconnect between the altcoin sectors. Altcoin market depth remained steady at $270 million in Q3, indicating continued liquidity provision by market makers.
However, the top 10 altcoins account for 60% of the total depth this month, compared to 50% in early 2022. While the depth at the valuation of the top 20 altcoins decreased from 27% to 14% over the same period.
a summary
This data points to notable trends in the market, with AI tokens emerging as a key growth area, while other sectors are showing mixed performance, requiring investors to be cautious and adapt to rapid market changes.
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