As the crypto market recovers, AI and big data cryptocurrencies are experiencing a notable surge, according to a report by market intelligence platform Santiment.
what happened: A Santimento post on Thursday revealed that AI and big data cryptocurrencies are witnessing significant gains in the ongoing market recovery. Specifically, he said, robonomics network (CRYPTO: XRT) soared 33%; bridge oracle (Crypto: BRG) 21%, and 1 only (Crypto: Like) 20% increase.
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Santiment suggests that advances in AI technology are likely to benefit projects on this watch list. As the market continues to recover, these AI and big data crypto assets are expected to reap significant gains.
The appreciation of these assets occurs in the following days. Bitcoin (Crypto: BTC), Ethereum (Crypto: ETH), and dogecoin (CRYPTO: DOGE) is trading mixed. While the top cryptocurrencies appeared to be trading in the black, Ethereum and Dogecoin were in the red at the time of writing.
Over the week, Bitcoin fell nearly 4%, while Ethereum and Dogecoin fell 7.8% and 19.8%, respectively.
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price action: At the time of writing this article, robonomics network (XRT), Ethereum The base coin price is $7.39, reflecting a 3.89% decline over the past 24 hours. Similarly, bridge oracle (BRG) is currently trading at $0.001227, marking an increase of 13.62% during the same period. 1 only (LIKE) is trading at $0.2238 and has experienced an increase of 13.75% in the past 24 hours. By comparison, in the broader cryptocurrency market, Bitcoin According to data from Benzinga Pro, the price is $68,534.75, showing an increase of 3.45% in the past 24 hours.
why is it important:Recently, the virtual currency market has experienced major fluctuations. Earlier this month, one veteran trader evaluated Bitcoin as follows: Ethereum (ETH), and Solana (SOL) Depending on your comfort level and upside potential for a larger investment.
Meanwhile, the availability of Bitcoin on major cryptocurrency exchanges has fallen to an all-time low, according to data analysis firm CryptoQuant. This is believed to be due to tight supply due to foreign exchange reserves at an 18-month low.
Additionally, a report from on-chain analytics firm Glassnode states that long-term Bitcoin holders are well into the circulation cycle. This will result in a 6% price increase. Shiba Inu (SHIB) and large holders' net flows exploded by 1,058%.
These market trends, coupled with continued advances in AI technology, are likely to continue to impact the performance of AI and big data cryptocurrencies.
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