In February 2023, the AI-driven cryptocurrency sector reached a staggering $4 billion in value. Yet, it has since experienced a downturn of $1.42 billion. Over the last week, eight of the top 10 AI-based crypto tokens saw declines against the U.S. dollar.
Downturn Hits AI Crypto Market
Once a thriving market, AI-focused cryptocurrency assets have undergone considerable value reductions in the past four months. On February 27, 2023, the AI crypto economy was worth around $4.03 billion, but by May 28, 2023, it had lost $1 billion in value. Since that time, an additional 420 million has been shed from the AI-focused crypto coin market.
Cumulatively, since its peak at the end of February, roughly $1.42 billion has been stripped from the AI-crypto economy’s worth. The previous week wasn’t particularly favorable for the top ten coins in this sector either, with most of the leading AI-focused crypto assets recording losses over the last seven days. The top AI crypto asset by market capita
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