The AI and big data crypto market cap, however, was coming down by a stunning 80% from its low in early October on revived investors’ interest.
The total market capitalization of artificial intelligence-related and big data cryptocurrency projects and tokens has increased by 79. It has risen by 7% in the last three weeks meaning that the morale of investors in the cryptos has improved.
It is equally pertinent to mention here that as of Aug 6, the total market capitalization of AI and big data crypto projects stood at a yearly low, $18. 21 billion, mainly because of its indirect dependency on the disappointing Bitcoin BTC tickers down $61,886, and the crypto markets in general. Back then, bitcoin prices declined beneath $50,000 based on the information provided by ForksDaily Markets Pro and TradingView.
Heavy influence of the Bitcoin market
On August 25, the AI & Big Data token index by the researchers of the data of the CoinMarketCap837 figures fit to replicate the BTC/USD price rebound in July set for the token market capitals that comfortably crossed the $38 billion.
Top AI and big data tokens with market capitalizations as of Aug. 27 are Near Protocol NEAR, down $4. 66 which is equivalent to $5 5 billion, Internet Computer ICP tickers by $8. 00 at $3. 5 billion, USA Artificial Intelligence Warfare Command Center at $2 billion, and Artificial Superintelligence Alliance (FET) at $3. 4 billion while the other one is Bittensor (TAO) at $2. 8 billion.
Market fluctuations openly affected the investors’ sentiment during this time, according to the Crypto Fear & Greed Index by Alternative. I reached the state of ‘extreme fear.’
AI tokens surge amid improved investors’ sentiment
However, by the middle of March 2019, the sentiment got back to “neither bullish nor bearish,” meaning that markets started recovering and investors in cryptocurrencies wanted to get back their losses.
On its part, the Fear & Greed Index is meant to capture the mood of crypto investors and can thus be used to make useful investment decisions at this juncture.
A DEX on-chain analytics firm that goes by the name of Lookonchain pointed out the big gains and highlighted that odd whale transaction patterns were identified in FET in an X post created on Aug 26.
This was its observation: A whale “appeared to be sorry for having sold” its cryptocurrency at an earlier price to purchase $2. 38 million Tether USDT tickers lower by $1. 00 to repurchase 1. The rest of the amount or 79 million FET tokens have been bought from Binance at a higher value of $1. 33 on Aug. 25.