Outside Source
The Ai agents’ total market cap has surged by 12% in the last 24 hours, bringing the total market cap to almost $8 billion.
The AI agents market cap has enjoyed a 12% increase in the past 24 hours, bringing the total market cap to $7.79 billion, according to cookie.fun. Solana-based agents dominate the market with a $3.86 billion valuation, reflecting a 13.66% rise in the last day. Following closely, Base and other chains recorded gains of 9.27% and 8.75%, respectively.
This uptick in AI agents’ market cap is hopeful, especially considering the decline in the AI agent narrative marked by the AI agents’ market cap crashing from its previous $10 billion highs.
This rebound may, in part, be driven by major technological advancements and strategic moves in the AI sector. Specifically, OpenAI is reportedly taking a major step toward reducing its reliance on NVIDIA by designing its own in-house AI chips. The chips will be manufactured by Taiwan Semiconductor Manufacturing Company, with the design expected to be finalized in the coming months. This development might fuel the resurgence of crypto projects that depend on AI-based infrastructure.
That being said, it might be too early to tell if older AI agent projects will even return to their previous highs. As crypto researcher Crypto Stream pointed out in a recent post on X, trying to time the bottom of these tokens is too risky — though it could also be highly profitable.
He also explained that the decline in the AI narrative wasn’t due to a lack of innovation or utility in the space. Instead, market liquidity shifted from AI projects into large-cap altcoins, which caused a crash in the demand for AI tokens.
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This article first appeared at crypto.news
