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NOV 20, 2023

Crypto AI Capitalization Touches IDR 51.2 Trillion, Strengthens in the Last 3 Months

by Liaison Leisure

The performance of AI-based cryptocurrencies, reporting a significant drop to USD 2.6 billion by the end of July 2023, followed by a recovery over the last three months, reaching USD 3.32 billion. The leading AI-related crypto, Graph (GRT Coin), is valued at USD 1.15 billion. Despite a 7.55% weekly decline, GRT has surged by 60.26% against the US dollar in the last month.
At the end of July 2023, AI-based crypto saw a significant drop to USD 2.6 billion or approximately IDR 40.1 trillion (assuming an exchange rate of IDR 15,424 per US dollar). This decline followed the rapid growth of AI-based crypto in early 2023.
Reported by Bitcoin.com on Monday (20/11/2023), despite this decrease, there has been a recovery in the AI-focused crypto landscape over the last three months, with its value increasing to USD 3.32 billion or approximately IDR 51.2 trillion, supported by an influx of around USD 720 million or IDR 11.1 trillion.
AI tokens are digital assets within AI-based crypto initiatives, playing a role in embedding artificial intelligence into various projects. These endeavors encompass asset management, generative art, price predictions, and the functioning of decentralized autonomous organizations (DAOs), among other applications like Web3 and the Internet of Things (IoT).
The leading AI-related crypto in terms of market capitalization is Graph (GRT Coin), valued at USD 1.15 billion or approximately IDR 17.7 trillion. This week, GRT experienced a 7.55% decline, but it surged by 60.26% against the US dollar over the last month.
As the AI crypto market navigates a fluctuating year, its future remains uncertain. The convergence of technology and finance, while promising, raises unanswered questions about the long-term impact and stability of AI-based digital currencies in the global financial ecosystem.
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