AI Crypto Sector Booms as NEAR, TAO, and Render Lead Market Cap Rankings

• NEAR Protocol leads the AI crypto sector with a $4.12 billion market cap despite a 50% loss over the past three months.
• Bittensor (TAO) ranks second with a $3.69 billion market cap and strong 19% weekly gains.
• Render (RNDR) faces price struggles, dropping 40% in the past month, but holds a $2.2 billion market cap.

The AI-focused crypto sector has experienced tremendous growth over the past 12-24 months, with top assets constantly shifting in market capitalization. In a tweet , LunarCrush Analytics highlighted the top-ranking AI-based crypto projects.

Top AI Tokens and Their Price Performance

According to the latest data, NEAR Protocol (NEAR) currently leads the sector with a market cap of $4.12 billion. NEAR is trading at $3.46, down 2.1% over the past day, but it has maintained a weekly gain of 1.09%.

However, over a longer time frame, such as 30 days and three months, NEAR has lost approximately 50%.

Following NEAR, Bittensor (TAO) ranks second with a market cap of $3.69 billion. TAO boasts a 1.45% gain over the past 24 hours and an impressive 19% weekly gain. Unlike NEAR, TAO has only dipped by 20% in the last three months.

Related: AI Altcoin Bull Run? BitTensor, NEAR, and SPEC Hold Key Supports

Another leading contender in the AI market is Render (RNDR), with a market cap of $2.2 billion. However, RNDR has faced similarly discouraging price performance to NEAR. In the last month, RNDR has dropped by 40% and 50% over the last three months, with its current price at $4.24.

Other Major AI Tokens

Other significant AI-related tokens include Fetch.ai (FET), with a market cap of $1.87 billion, Injective (INJ) at $1.52 billion, and Theta Network (THETA) at $1.34 billion. The Graph (GRT), Virtual Protocol, AIOZ Network, and OriginTrail (TRAC) round out the top 10.

Related: Render (RNDR) Price Prediction 2024-2030: Will RNDR Price Hit $20 Soon?

While the price performance of some tokens has been unimpressive in recent times, the sector’s rapid expansion reflects growing investor interest in blockchain-powered AI applications. This includes areas like decentralized machine learning, data indexing, and GPU-based computing.

For example, Bittensor is pioneering a decentralized AI model marketplace, while Render facilitates distributed GPU rendering for AI and visual computing. With increased institutional and retail attention on AI and blockchain convergence, the sector’s continued evolution could lead to further shifts in dominance among these projects.