AI and Big Data Tokens Surge 131% Amid Bitcoin Rally Run

Since reaching their lowest point of the year on June 8, artificial intelligence (AI) and big data tokens have witnessed a remarkable surge in market capitalization, riding the momentum of Bitcoin’s ongoing bull run.

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Current Market Performance

On November 19, the total market capitalization of AI and big data crypto projects and tokens grew to $42.1 billion, led by Near Protocol (NEAR), Internet Computer (ICP), and Render (RENDER) [^1]. According to data from Cointelegraph Markets Pro and CoinMarketCap, these tokens have experienced a significant increase in market capitalization.

Market Capitalization and Volume of AI and Big Data Tokens

**30-Day Performance:**

*   Near Protocol (NEAR): +154.6%
*   Internet Computer (ICP): +145.2%
*   Render (RENDER): +138.9%

**Market Capitalization and Volume of AI and Big Data Tokens, One Year:**

| Token | Market Cap (1-year) |
| --- | --- |
| Near Protocol (NEAR) | $12.5 billion |
| Internet Computer (ICP) | $10.8 billion |
| Render (RENDER) | $2.3 billion |

**Source:** CoinMarketCap

Factors Contributing to the AI Token Market’s Growth

The recent surge in AI token prices can be attributed to several factors, including:

Overall Positive Investor Sentiment: The ongoing bull run of Bitcoin has contributed to a positive investor sentiment, driving interest and investment in AI tokens.
Growing Confidence in Bitcoin (BTC): As the largest cryptocurrency by market capitalization, Bitcoin’s growing confidence has a ripple effect on other cryptocurrencies, including AI tokens.
Regulatory Clarity: Regulatory clarity in numerous jurisdictions has created a more favorable environment for investors to participate in the AI token market.
No Major Ecosystem Collapses: The absence of major ecosystem collapses has helped maintain investor confidence and prevent a decline in the AI token market.

Market Capitalization Recovery

In contrast, the AI token market experienced a steady decline in the first half of 2024, with a peak capitalization of $45 billion on March 15 eventually falling to $18.2 billion by June 8 [^2]. However, in the next six months, the AI token market made a U-turn recovery, regaining a market capitalization of $42.1 billion.

Market Outlook

The AI industry is well-positioned to break its record of almost $45 billion and mark a new all-time high by the end of November. With over 20 AI tokens having a market capitalization of over $1 million, including Bittensor (TAO), Artificial Superintelligence Alliance (FET), Injective (INJ), The Graph (GRT), Theta Network (THETA), and Akash Network (AKT) [^3].

Comparison with Traditional Banking Giants

The cumulative market capitalization of the entire crypto market is currently estimated at $3.09 trillion, according to CoinMarketCap data. As a result, AI tokens represent just 1.36% of the crypto market, signaling a huge scope for growth.

Related Developments

Bitcoin Surpasses $1.6 Trillion Market Cap: On November 10, Ethereum surpassed Bank of America in terms of market capitalization, standing at around $383 billion [^4].
Ethereum’s Market Capitalization: Chart showing Bank of America’s market capitalization currently sits at $346 billion [^5].

Conclusion

The AI token market has experienced a significant surge in market capitalization, driven by factors such as positive investor sentiment, growing confidence in Bitcoin, regulatory clarity, and the absence of major ecosystem collapses. With over 20 AI tokens having a market capitalization of over $1 million, there is still huge scope for growth.