Artificial intelligence (AI) tokens are leading the weekly gains in the cryptocurrency market, with an average return of 37% over the past seven days, as reported by Artemis’ data.
The impressive performance of AI tokens surpasses the market’s 15.9% average gain, driven mainly by Bittensor (TAO), which saw an 86.2% increase in the last week.
Among the 11 AI-related tokens tracked by Artemis, all experienced double-digit gains exceeding 20% over the same period. Artificial Superintelligence Alliance (ASI) and Render (RENDER) claimed the second and third spots in terms of weekly returns, growing by 31% and 30.3%, respectively.
In the past 24 hours alone, AI tokens have surged by 10.5%, nearly three times higher than the market average gain of 3.7% during the same period.
Data, RWA, and Gaming
Out of the 22 crypto sectors monitored by Artemis, only 9 outperformed the market average gains. Tokens associated with data services and availability, such as Celestia (TIA) and Dymension (DYM), saw weekly gains of 27.1% and 33.6%, respectively.
The real-world assets (RWA) sector performed equally well as gaming-related tokens, both increasing by approximately 22.5% in the past week, ranking among the top five best-performing crypto areas.
On the flip side, native tokens of decentralized applications like Uniswap (UNI) and Jupiter (JUP) only saw a 15% weekly increase, falling just 0.9% short of the market average.
Despite their strong performance in the first quarter, memecoins failed to surpass the market average, with a gain of 11.1% over the past seven days, nearly 5% below the total market average.
Concentrated Liquidity
A recent report by Kaiko on Sept. 23 highlighted the disparity between different altcoin sectors. While the overall market depth of altcoins remained stable at $270 million in Q3, the top 10 altcoins by market cap accounted for 60% of total depth this month, compared to 50% earlier in 2022.
Conversely, among the 20 largest altcoins by market cap, the depth decreased from 27% to 14% in the same period. Analysts at Kaiko suggested that this shift could be attributed to market makers reallocating their portfolios to more established assets like Bitcoin, reducing risk in the process.
