Chinese Ethereum and ‘Super’ AI Token Lead Crypto Market with Double-Digit Gains – Grayscale Ethereum Mini Trust (ETH) ARCA:ETH
Neo and the Artificial Superintelligence Alliance took center stage in the cryptocurrency market on Monday, emerging as the top performers. NEO, often referred to as the “Chinese Ethereum ETH/USD,” surged over 14% in the past 24 hours, making it the highest gainer. The trading volume for NEO more than tripled to $65.04 million, indicating a surge in buying activity.
For those unfamiliar, NEO serves as the native token for a blockchain platform established by Chinese innovators Da Hongfei and Erik Zhang. This platform utilizes smart contracts to tokenize real-world assets, earning it the nickname “Ethereum of China.”
In addition to NEO’s impressive performance, the AI-based token FET of the Artificial Superintelligence Alliance also saw significant growth, rising by over 11% to claim the second spot among top gainers. FET experienced a remarkable 124% increase in trading volume within the last 24 hours.
The creation of FET involved a strategic amalgamation of three AI tokens, namely Fetch.ai FET/USD, SingularityNET AGIX/USD, and Ocean Protocol OCEAN/USD. The surge in shares of AI behemoth Nvidia Corp. NVDA by 4.35% may have played a role in triggering this growth.
The surge in NEO and FET coincided with a broader market rally that benefited major players like Bitcoin BTC/USD and Ethereum ETH/USD, which also saw considerable gains. Furthermore, a recent post by Tesla CEO Elon Musk about his favored cryptocurrency, Dogecoin DOGE/USD, contributed to a slight increase in its value.
The cryptocurrency market continues to exhibit dynamic movements, with various tokens experiencing notable gains. As investors closely monitor these developments, the performance of NEO and the Artificial Superintelligence Alliance highlights the ongoing evolution of the digital asset landscape.
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