Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Artificial intelligence tokens gain 10% despite Bitcoin’s struggle to break past $64,000

Source Fxstreet

AI tokens Fetch.AI, Render, The Graph, Akash Network, and SingularityNET have noted nearly 10% and higher gains in the past 24 hours.
AI tokens rallied despite modest gains in Bitcoin and the recent correction in the broader crypto market.
A crypto analyst has identified AI-related tokens as the top-performing category among top 300 coins.

Artificial Intelligence (AI) tokens have posted nearly 10% to 26% gains in the last 24 hours, as Bitcoin is hit by a correction and drops below $62,000. The AI sector emerges as the one with relatively high gains amid a volatile Friday, with assets such as Bitcoin (BTC) swinging from almost $64,000 to below $62,000.

AI tokens bounce as Bitcoin tumbles below $62,000

AI tokens Fetch.ai (FET), Render (RNDR), The Graph (GRT), Bittensor (TAO), Akash Network (AKT), SingularityNET (AGIX), AIOZ Network (AIOZ), Ocean Protocol (OCEAN), Golem (GLM) and Arkham (ARKM) rank in the top 10 assets by market capitalization within the category.

Of these assets, RNDR, GRT, AKT, GLM and ARKM have yielded between 10% and 26% gains in the past 24 hours, as seen on CoinGecko.

AI tokens

AI token gains on Friday

The recent developments in the AI sector have likely catalyzed the gains. Computers and IT technology company OpenAI is reportedly preparing to launch its own search engine on Monday, per a Reuters report, in a bid to compete with Google.

The report states that the target date is a day before Google kicks off its annual I/O conference, where the firm is expected to present its AI offerings Gemini and Gemma. Several sources have identified Monday as the target date for Open AI’s search feature’s debut.

Crypto analyst identifies AI as top-performing category of coins

Crypto analyst Murad shared on X his analysis of the top 300 cryptocurrencies’ price performance in the past 30 days. Identifying the top gainers and losers, Murad observed that meme coins based on cats and frogs and AI-related assets rank among gainers.

Top Gainers and Losers in the last 30 days among the TOP 300 coins.

TLDR:
- Top Cat, Top 2 Frogs and AI are WINNING.
- High FDV / new Tech / non-AI Tech LOSING.

This MEGATREND will continue for MONTHS to COME. pic.twitter.com/fDXq4dfPxX
— Murad (@MustStopMurad) May 10, 2024

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Gold falls below $4,300 as higher US yields bolster Fed rate hike bets Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

Author FXStreet

Sep 15, Tue

Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

【Daily Brief】10-year Treasury yield briefly tops 5%, S&P 500 slips to 7,602 and the dollar firms at 99.3 as the Fed's decision eve begins The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Author Irene Q.

Sep 15, Tue

The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Silver breaks $64 as precious metals rebound — can gold hold the $4,280 line into the Fed decision?Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Author Suzie

19 hours ago

Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

19 hours ago

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Popular Symbols