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Cryptopolitan 2024-12-28 16:16:44

AI token market cap drops almost 30% from the $70B December peak

AI tokens have seen a nearly 30% decline in market capitalization despite expectations of a pro-altcoin rally in 2025. Their market cap currently stands at $50.61 billion. The top gainers in the AI token market in the last 24 hours are AXIS, PHA, and MDT tokens, whose trading volumes and market caps are still on the rise. AI Tokens’ market cap and trading volumes decline, corresponding with Bitcoin’s price drop The market capitalization of AI tokens has dropped by almost 30%, falling to $50.61 billion from December’s high of $70.4 billion. The decline in the tokens coincides with Bitcoin’s price drop, which experienced a nearly 15% retracement from its new peak of $108,000 on December 17. The cumulative trading volume of AI tokens also slumped to $4.73 billion, dropping by almost 11%. However, some of these tokens are doing much better than others, including the AI16Z token, which bypasses the need for traditional exchange listings. The token is currently going for $1.26, and its market cap surpasses the billion mark. The PHA token is also trading at $0.4432, up by over 13.57% in the last 24 hours. Its 24-hour trading volume has also escalated by over 168% to $878.76 million. However, tokens like TURBO and RENDER trading prices have slumped, dropping by 1.31% and 0.61% , respectively, in the last 24 hours. TURBO’s 24-hour trading volume has also dwindled by over 25%, while RENDER’s is down by 14%. Analysts expect altcoins to pick up in 2025 Crypto analysts are projecting 2025 to be a huge season for altcoins. In the past, altcoin seasons have followed periods of Bitcoin price rallies, with smaller assets like AI tokens profiting massively. Analysts expect that Ethereum (ETH) and other altcoins might revisit their previous peaks following the Bitcoin price surges and the growing hype for AI-powered innovations and blockchain advancements. Despite the declines in AI tokens, regulatory changes and institutional interest expected in 2025 are also projected to allow for market recovery. Popular crypto trader Elja even shared on X: A few more weeks before mega alt season. Bet on the right coins and you’ll be insanely rich – Elja From Zero to Web3 Pro: Your 90-Day Career Launch Plan

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