Bitcoin Hits New ATH at $93,000, Fueled by US Senator Cynthia Lummis’ Bitcoin Reserve Bill for 2025; Crypto market cap exceeds $3 trillion.
- Bitcoin surpasses $93,000 ATH: U.S. Senator Cynthia Lummis is pushing Bitcoin’s reserve bill for early 2025, rocketing the crypto market cap past $3 trillion.
- AI Tokens Skyrocket: Nine of the top 10 AI tokens gain value; AIOZ Network leads with 85.1% weekly growth.
- Key developments in AI: AltLayer Launches AI Agent Platform; Voting on the PAAL AI merger begins with an FET conversion ratio of 6.24:1.
- Major funding for AI: Zero Gravity Labs raises $40M, closes $250M deal for decentralized AI operating system, enhancing blockchain-integrated AI deployment.
It’s that time again.
Before we look at the reaction of the AI token sector, let’s take a quick overview of the market.
>> Missed last week’s AI recap? Check it out here.
The rest of the cryptocurrency market reacted accordingly. The total market capitalization of all cryptocurrencies surpassed $3 trillion earlier today. BTC still maintains an extraordinarily high dominance of 59.8%, close to its highest value this year.
Source: TradingView
The CoinMarketCap Fear & Greed Index now sits at 87/100, its highest value since March 2024. This indicates that extreme greed is currently permeating the market.
This momentum has also spilled over into the AI sector.
The market capitalization of all AI tokens now stands at $40.2 billion. This is its highest value in over six months and an improvement of over 33% in one week.
Scrolling down to some of the smaller cap AI tokens, we find a handful of particularly impressive performers. These include:
Meanwhile, so-called “sentient” AI meme coins like Goatseus Maximus (GOAT) and Fartcoin (Fartcoin) have broken successive highs.
In terms of relative performance, the AI sector doesn’t put on a particularly impressive show.
As is usual in bull markets, projects generally hold off on bullish updates, developments and news until market conditions are favorable.
Given that market conditions aren’t much more favorable than they currently are, there is an avalanche of interesting updates to follow.
We’ve highlighted five of the most important stories this week to help you get up to speed:
AltLayer Unveils AI Agent Solution: AltLayer has launched “Autonomous,” a new platform allowing users to deploy autonomous AI agents on its blockchain stacking infrastructure. These AI agents are designed to handle tasks such as trading, data analysis, and other automated functions while taking advantage of the scalability and security features of AltLayer technology.
PAAL AI considered for token merger: The ASI Alliance plans to integrate the PAAL AI ecosystem custom token into its ecosystem, pending community approval. The community vote will take place between November 18 and 23, 2024. If the community votes in favor, $PAAL will be migrated to $FET with a FET ratio of 6.24:1.
The Artificial Superintelligence Alliance deploys Proto-AGI in Minecraft: The ASI Alliance introduced AIRIS (Autonomous Intelligent Reinforcement Inferred Symbolism), a proto-AGI that learns in Minecraft. AIRIS adapts in real time, refining its ruleset based on gaming experiences, marking an important step toward practical and scalable neuro-symbolic learning.
>> And that’s the end of this week’s AI roundup! Hopefully this trend continues in the coming weeks!
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