Synthetic intelligence (AI) tokens are main weekly good points in cryptocurrencies, seeing a median return of 37% over the previous seven days, in response to Artemis information.
The efficiency proven by AI tokens is greater than double the market's common acquire of 15.9% for the interval. This transfer was primarily pushed by Bittensor (TAO), which climbed 86.2% over the previous seven days.
Plus 11 AI associated tokens that Artemis tracks posted double-digit good points that exceeded 20% over the identical interval. Synthetic Superintelligence Alliance (ASI) and Render (RENDER) took second and third place by way of weekly returns, with development of 31% and 30.3%, respectively. respectively.
AI tokens are up 10.5% within the final 24 hours, virtually triple the market's common acquire of three.7% over the identical interval.
Knowledge, RWA and Video games
Solely 9 of the 22 crypto sectors tracked by Artemis outperformed the market's common good points. Tokens associated to information providers and information availability, corresponding to Celestia (TIA) and Dymension (DYM), posted weekly good points of 27.1% and 33.6%, respectively.
The Actual World Belongings (RWA) sector is just about tied with gaming-related tokens, as each rose roughly 22.5% previously week, closing out the highest 5 performing crypto areas within the weekly time-frame.
On the underperformers facet, native decentralized software tokens corresponding to Uniswap (UNI) and Jupiter (JUP) posted a weekly acquire of 15% and underperformed the market common by solely 0.9%.
Regardless of being one of the best performing crypto story in the course of the first quarter, memecoins didn’t outperform the market common. Memecoins have seen a median acquire of 11.1% over the previous seven days, which is nearly 5% beneath the general market common.
Concentrated liquidity
The disconnect between the varied altcoin sectors was highlighted in a September 23 Kaiko report. Market depth for altcoins remained regular at $270 million within the third quarter, indicating that market makers are nonetheless offering liquidity to those markets.
Nevertheless, by asset breakdown, the ten altcoins with bigger market caps account for 60% of the overall depth this month, up from 50% initially of 2022.
In the meantime, when rating the highest 20 altcoins by market capitalization, depth decreased from 27% to 14% over the identical interval.
Kaiko analysts recommended this may very well be associated to market makers de-risking their portfolios and transferring funds into extra consolidated property corresponding to bitcoin.
