AI Crypto Coins Rally as Sector Surpasses $34B Valuation in Fresh Market Upswing

Following a drop towards the end of July, the crypto market witnessed a fresh injection of optimism over the past week. Artificial intelligence (AI) assets also leveraged this market wave, with many experiencing a strong northward push, as the sector crossed $34 billion in valuation.

Top AI Coins Soar with Strong Market Outings

On August 9, the crypto AI sector, which is made up of digital assets that blend blockchain with artificial intelligence, posted an over 5% rally. At its core, AI coins function as the native token powering AI-based protocols. Basically, these coins serve several purposes, including ecosystem rewards and acting as the digital currency of decentralized AI marketplaces.

Week-to-date (WTD), the top 15 crypto AI coins by market cap posted green outings, with most of them cruising in the current intraday market. Bittensor (TAO) maintained its position at the summit of the crypto AI sector, climbing over 15% in the past seven days to trade at $387.

TAO’s upward movement is largely driven by the recent growth in institutional accumulation. In the past month, corporate xTAO and TAO asset holders have added over $16 million worth of assets to their coffers.

Standing second in the AI sector ranking, NEAR Protocol (NEAR) grew by over 18% in the past week, pushing its price to $2.79 at the time of writing. Internet Computer (ICP) and Render (RNDR) followed behind with 14.23% and 16.18% weekly gains, respectively.

Here are the other AI crypto coins that make up the top ten, according to CoinMarketCap data:

• Story (IP): Currently exchanging hands at $6.42, up 10.79% this week.
• Filecoin (FIL): Hovering around $2.63 following a 15.69% weekly surge.
• Artificial Superintelligence Alliance (FET): Priced at $0.71 after a 16.24% climb in the past week.
• Injective (INJ): Pegged at $14.65, driven by a 20.13% jump this week.
• The Graph (GRT): Changing hands at $0.099, up 13.45% WTD.
• Virtuals Protocol (VIRTUAL): Rallied by 20.95% on its 7-day chart, hitting $1.41.

In eleventh place is Theta Network (THETA), which posted an 18.85% WTD surge. This green outing was partly fueled by the recent adoption of Theta Network’s EdgeCloud Hybrid platform for AI agent research by Yonsei University.

Other AI Crypto Assets See Strong Weekly Rally with Multiple Double-Digit Gainers

DeXe (DEXE) posted a strong weekly uptick of 19.98%, adding to its solid monthly momentum. AIOZ Network (AIOZ) is flying high with a 23.93% and 28.30% rally in its 7-day and one-month charts. On top of that, AIOZ is also one of the top gainers in today’s market session, recording a 21.36% intraday uptick.

Aethir (ATH) surged 30% in the past week to $0.037, backed by solid price action indicators. Turbo (TURBO) completes the top fifteen with a 20.61% northward climb, solidified by an over 12% climb in the past 24 hours.

The recent growth of AI crypto assets underscores the increasing adoption of artificial intelligence-focused platforms. Besides, this blend of two key industries could further establish AI as a crucial component in the crypto space. As the sector grows, market participants are closely watching how these AI crypto coins evolve and influence decentralized ecosystems.