The market capitalization of artificial intelligence (AI) and big data tokens has seen a substantial increase since hitting its lowest point in June. As of November 19, the total market capitalization of AI and big data crypto projects and tokens reached $42.1 billion, according to data from Cointelegraph Markets Pro and CoinMarketCap.
A Bull Run Boosts Market Capitalization
The significant growth in AI token prices can be attributed to a combination of factors, including overall positive investor sentiment, growing confidence in Bitcoin (BTC), regulatory clarity in numerous jurisdictions, and the absence of major ecosystem collapses. The recent surge in AI token prices is riding the momentum of Bitcoin’s ongoing bull run.
Market Capitalization and Volume of AI and Big Data Tokens
The following graph illustrates the market capitalization and volume of AI and big data tokens over a 30-day period.
Market Capitalization and Volume of AI and Big Data Tokens, 30 Days
| Date | Market Capitalization ($ billions) | Volume |
| — | — | — |
| Nov 19 | $42.1 | $2.3 billion |
| Oct 20 | $35.6 | $1.8 billion |
| Sep 21 | $29.2 | $1.4 billion |
| Aug 22 | $23.9 | $1.1 billion |
AI Token Market Recovery
In contrast to the current trend, the AI token market experienced a steady decline in the first half of 2024. The market peaked at $45 billion on March 15 but eventually dropped to $18.2 billion by June 8.
Market Capitalization and Volume of AI and Big Data Tokens, One Year
| Date | Market Capitalization ($ billions) | Volume |
| — | — | — |
| Nov 19 | $42.1 | $2.3 billion |
| Jun 8 | $18.2 | $1.1 billion |
| Mar 15 | $45.0 | $2.5 billion |
However, in the next six months, the AI token market made a U-turn recovery to regain its lost market capitalization. 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.
AI Tokens with Over $1 Million in Market Capitalization
In addition to the projects mentioned above, several other AI tokens have over $1 million in market capitalization. These include:
- Bittensor (TAO)
- Artificial Superintelligence Alliance (FET)
- Injective (INJ)
- The Graph (GRT)
- Theta Network (THETA)
- Akash Network (AKT)
Crypto Market Growth Potential
The cumulative market capitalization of the entire crypto market is currently estimated at $3.09 trillion, according to CoinMarketCap data. AI tokens represent just 1.36% of the crypto market, signaling a huge scope for growth.
Comparison with Traditional Banking Giants
The following chart illustrates the market capitalization of various traditional banking giants and their comparison with the crypto market.
Market Capitalization Comparison
| Entity | Market Capitalization ($ billions) |
| — | — |
| Bank of America | $346 billion |
| Ethereum | $383 billion |
As seen in the chart, Ethereum has surpassed Bank of America in terms of market capitalization. This shift signals the increasing acceptance of decentralized finance and crypto assets.
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