The AI sector clawed back some ground this week, adding roughly 1.6% to its market cap to hit ~$18.1 billion.
The AI sector clawed back some ground this week, adding roughly 1.6% to its market cap to hit ~$18.1 billion. Most of the bounce came late in the period as broader altcoin sentiment recovered from a dip on April 22.
The sector is now in the green on the seven-day and 30-day timeframes.
This week's notable movers:
The trending list told two very different stories. USD.AI (CHIP) launched publicly on April 21 amid the broader crypto rally driven by the U.S.-Iran ceasefire, and its price surged after simultaneous listings on several tier-1 centralized exchanges (CEXs).
Source: USD.AI (CHIP) Token Page
The protocol finances AI compute by letting GPU operators borrow against their hardware, with $225 million in loans executed since launch and over $1.2 billion in approved facilities.
TAO dominated crypto AI X feeds again, with posts largely centering around its recovery and promise.
Trader Michaël van de Poppe noted he was "positively surprised with the resilience of $TAO" after the subnet drama, calling the bounce a strong signal for the broader ecosystem.
Source: CryptoMichNL on X
Several traders are eyeing higher targets if TAO holds key levels. @nordin_eth flagged $235 as the line in the sand, with a reclaim of $264 confirming a higher low. @RAFAELA_RIGO_ called $477 "a matter of time" based on its strong weekly setup.
Meanwhile, @TaoOutsider flagged that TAO dropped to second place in Grayscale's Decentralized AI Fund after the firm sold during the Covenant fallout, putting pressure on the asset manager to clarify its conviction in the May report.
https://x.com/TaoOutsider/status/2048193648488309162
Below is your weekly roundup of major developments across the crypto AI space.
https://x.com/Nick_Prince12/status/2046268042326290472
https://x.com/cantor8/status/2047997770103926946
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