AI Tokens Surge As X Corp Unveils xAI Shareholding
AI-focused tokens experienced a significant boost over the weekend due to key developments in the AI sector.
Elon Musk announced that X Corp shareholders would hold a 25% stake in the newly unveiled AI venture, xAI.
This excitement was amplified as xAI began testing its Grok chatbot, leading to the creation of numerous replica tokens.
The AI crypto market responded positively to this development, with notable performances across various tokens.
Bittensor’s TAO saw a 7.7% increase, amidst an 83% rally over the past week. Other AI cryptocurrencies, such as RNDR, OCEAN, FET, and AGIX, have outperformed major cryptocurrencies like Bitcoin.
However, smaller AI cryptocurrencies like Synesis One, LimeWire, and NCDT are leading the bull run with price surges of 97%, 56%, and 35%, respectively.
The broader AI token market cap saw a 10% surge, compared to the 1.7% increase in the global cryptocurrency market cap. The recent surge in AI tokens demonstrates the growing prominence of the sector.
(With inputs from Shikha Singh)
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