- Several AI tokens, including NEAR, ASI, and RENDER, surged on Monday as the AI crypto category recovered.
- NEAR Protocol rallied following announcements of a partnership with the tokenization platform Libre.
- ASI also rose due to a new partnership with GameSwift AI to help foster accelerated gaming integration.
The Artificial Intelligence (AI) crypto category showed gains on Tuesday, as most of the sector's tokens, including NEAR, ASI, ICP, RENDER and TAO, rallied.
NEAR, ASI, ICP rally alongside other AI tokens
AI tokens led the crypto market recovery on Tuesday as cryptocurrencies within the sector staged a rally in the Asian session.
NEAR Protocol is up 3.9% after Libre, a startup focused on tokenization, announced it had partnered with companies like Hamilton Lane to launch several digital funds on the NEAR blockchain.
The company said on Monday that the partnership will allow users of the NEAR protocol to access a Hamilton Lane credit fund, the Brevan Howard Master Fund and the Blackrock ICS Money Market Fund.
Furthermore, ASI jumped over 6% after announcing a new partnership with GameSwift AI, a Layer-2 blockchain designed for gaming. However, some crypto community members suggest that the asset may see a price correction.
Meanwhile, TAO, RENDER, and ICP have rallied 4.9%, 4.7% and 4.7%, respectively. However, TAO is down on the weekly chart with losses of over 16% following a 46% decline in its trading volume.
RENDER and ICP have also been down 18% and 7% on the weekly chart but could experience positive investor sentiment as the new month commences.
Meanwhile, Phoenix, a crypto analytics platform, revealed the top AI projects by social activity on Monday.
TOP #AI PROJECTS BY SOCIAL ACTIVITY$FET $INJ $TAO $RENDER $ROSE $VRA $PAAL $ZIG $TOKEN $AKT pic.twitter.com/wkRxCu9nbB
— PHOENIX - Crypto News & Analytics (@pnxgrp) September 2, 2024
The AI crypto category was down over the weekend, fueled by massive selling pressure after the release of Nvidia's earnings report. However, these tokens could begin to recover as Nvidia's higher-than-expected earnings made several Wall Street banks raise their price target for the NVDA stock.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
![Investors are wary of Ethereum's historical negative September returns, here's why](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Coins/Ethereum/ethereum_XtraSmall.jpg)
Investors are wary of Ethereum's historical negative September returns, here's why
Ethereum (ETH) is up 2% on Monday despite negative sentiment around ETH's historical weak price action in September. Meanwhile, ETH ETFs continue their weak trend, recording another week of net outflows.
![Worldcoin could take a further hit with over $230 million unlocks in September](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Worldcoin/Worldcoin_XtraSmall.png)
Worldcoin could take a further hit with over $230 million unlocks in September
Worldcoin (WLD) is up 2% on Monday but risks a heavy decline in the coming weeks following unlocks worth over $230 million in September. This follows a nearly 90% decline from its all-time high in March.
![Crypto products bleed $305 million as economic data stirs negative sentiment](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/bitcoins-36855764_XtraSmall.jpg)
Crypto products bleed $305 million as economic data stirs negative sentiment
Crypto investment products witnessed a setback last week, recording net outflows of $305 million as August came to a close. According to CoinShares' weekly report on Monday, the majority of outflows stemmed from Bitcoin ETF investors, showing the asset's sensitivity to interest rate cuts.
![Bitcoin rebounds after streak of ETF outflows, weighing on short-term outlook](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/bitcoin_forex_XtraSmall.jpg)
Bitcoin rebounds after streak of ETF outflows, weighing on short-term outlook
Bitcoin (BTC) recovers slightly on Monday after falling 11% last week and closing below $57,500, weighed by declining demand from US spot Bitcoin ETFs, which recorded $279.4 million in outflows.
![Bitcoin: Will BTC continue its ongoing decline?](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/bitcoin_5_XtraSmall.jpg)
Bitcoin: Will BTC continue its ongoing decline?
Bitcoin (BTC) trades above $59,000 on Friday, but it has lost 7.5% this week so far after being rejected around the daily resistance of $65,000. The decline is supported by lower demand from the US spot Bitcoin ETFs, which registered a net outflow of $103.8 million, falling Bitcoin's Coinbase Premium Index, and a spike in Network Realized Profit/Loss.
![Moneta Markets review 2024: All you need to know](https://editorial.fxstreet.com/images/IT/Testing/Review/FXSBadgeCertifiedBackg_XtraSmall.png)
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.