The weekly trading activities of crypto projects centered on artificial intelligence (AI) have increased dramatically in the last six weeks.
AI-related crypto assets such as Render (RNDR), Worldcoin (WLD), and Fetch.ai (FET) have been leading the pack in terms of trading volume, according to Kaiko, a prominent on-chain analytics firm.
According to the data presented in Kaiko’s tweet, the trading volume of AI tokens was initially less than $1 billion in early October.
However, a significant and consistent increase propelled weekly trading volume to more than $3 billion this month, representing a remarkable 200% increase.
The chart shows that the peak of trading activity in the last four months occurred in early November, with AI token trading volume exceeding $3 billion. While there has been some fluctuation, the volume has generally remained between $2 and $3 billion.
WLD, which is associated with OpenAI CEO Sam Altman, has played an important role in recent weeks, particularly since Altman’s reinstatement as CEO of OpenAI in mid-November.
Since its inception in July, Worldcoin has dominated the AI token market. RNDR and FET were closely tracked in trading during October and November.
According to CoinMarketCap, FET is worth over $435 million and has a market price of $0.5312. It occupies a prominent position in the AI-focused project landscape.
These projects have a combined market cap of more than $10 billion, demonstrating the growing importance of AI-related crypto assets in the market.