The first week of May saw a significant bullish trend in the crypto and artificial intelligence coin market, with Bitcoin rebounding from $56,500 to $65,223. Increased interest in US-listed Bitcoin ETFs played a significant role in supporting the altcoin market, compensating for previous losses.
Tokens related to artificial intelligence experienced a strong wave of recovery, emerging as top gainers today. These assets highlighted their ability to provide rapid movement in market dynamics within a new range. According to Coinmarketcap, the sector's leading assets reached $37.9 billion, reflecting a 7.3% daily increase.
In the last 24 hours, prominent artificial intelligence tokens like The Graph (GRT), Fetch.AI (FET), and SingularityNet (AGIX) secured double-digit gains, offering new long opportunities to momentum traders.
The Graph (GRT) is a decentralized and open-source indexing protocol for blockchain data. GRT has been bullish for the past six days, pushing its price from $0.22 to $0.3, marking a record 36% increase.
Fetch.ai (FET) is a blockchain-based platform aiming to change the operation of digital economies and data-driven markets using artificial intelligence and machine learning. FET managed to stay above $1.85 during the recent market consolidation, forming a local bottom on the daily chart. This bullish turnaround propelled the coin value up by 30%.
SingularityNET (AGIX) is a decentralized platform designed to facilitate the creation, sharing, and monetization of artificial intelligence services. AGIX formed a new high of $0.756 during the current market recovery, and if the bullish momentum continues, it is expected to break the $1.07 resistance.
The recovery in the crypto market gains momentum as Bitcoin shows significant growth, surpassing $65,000. During this recovery process, asset classes that move swiftly, especially artificial intelligence tokens and meme cryptocurrencies, exhibit rapid surges in short-term movements.