AI tokens performed unexpectedly in September and are performing major market performance. A wave of positive news has driven a surge in prices for several AI tokens, raising expectations for others in the same sector.
This article highlights the major drivers behind the impressive performance of AI tokens in September.
The market capitalization of AI tokens will be rebounded strongly in September thanks to WorldCoin
sponsor
CoinMarketCap data shows that the AI sector’s market capitalization has rebounded nearly 11% over the past seven days, reaching $33.9 billion. Daily trading volume increased by more than 120% to $8.8 billion.
The chart shows that upward momentum began on September 7th. Before that, market capitalization had moved sideways without any major fluctuations. So, what sparked the rally on September 7th?
The answer may be in positive developments from WorldCoin (WLD). That day, WLD went over $1 after collaborating with global academic institutions to launch anonymized multiparty calculations.
A day later, Eightco Holdings unveiled a $250 million corporate financial strategy centered around WorldCoin. At about the same time, Crypto Mining Company Bitmine invested $20 million in Eightco.
These consecutive announcements led to a price rise of nearly 130% in September to bring its price to $2.
sponsor
From a strict technology perspective, CoinMarketCap does not classify WorldCoin under the AI sector. However, its founder, Sam Altman, is a billionaire who has a major impact on artificial intelligence, so investors often associate it with AI.
According to Artemis, which includes WLD in AI classification, WorldCoin gatherings made AI tokens the best performing sector in September.
Other AI-related tokens, such as ARKM, Kaito, ATH, Virtual and AI16Z, also recorded an average increase of 30% over the past seven days.
sponsor
Positive news boosts other AI tokens in September
Several other AI tokens, whether coincidentally or not, also benefited from bullish news in September, attracting more attention to the sector.
For example, after listing it on Binance, OpenLedger (Open) surged by 135%. Recently, Coinbase and Upbit have listed the herds, enriching their tokens to over 200%, sending them to the highest ever heights.
The data also suggests that Korean traders are important to this rally. At Kaito, approximately 33% of the trading volume came from Upbit. In the case of the flock, upbit accounted for more than 36% of total trading volume.
sponsor
Korea Blockchain Week (KBW) will be held in Seoul from September 22nd to 28th, with a focus on AI, further strengthening South Korea’s interest in promoting the sector.
Additionally, X-user RB3K highlighted another interesting trend. Tokens that have skyrocketed recently often belong to the base blockchain and followed a pattern. It is listed first in Coinbase and then in Upbit. Based on this, RB3K suggested that other related tokens could soon see similar gatherings.
sponsor
“From what I can see so far, the only basecoins on the Upbit with KRW pairs are Kaito, Virtual, Herd and Aero. They’ve already pumped an insane volume in the first three.
In conclusion, the rise of World Coin and the excitement of Korean traders have contributed to the surge in AI tokens this September.
Extensive gatherings across the AI sector show that retail investors are beginning to redistribut their capital after a two-month stagnation.
