As Bitcoin attempts to hold onto the $22,000 psychological support, the crypto AI sector surpassed yield farming to outperform Bitcoin with gains of over 12% in the past 24 hours.
The AI sector’s total market cap is currently at $4.08B, with $838 million in volume in the last 24 hours.
Data stream aggregator The Graph leads the sector with a market cap of $1.42 billion, while SingularityNET saw the most substantial gains, up 16.2% in 24 hours.
The move came as Bitcoin’s volatility rose throughout Feb. 14, bouncing within the range of $21,572 and $22,322.
Earlier in the day, the best-performing sector was yield farming. However, as Bitcoin rallied, so too did the AI sector, thus suggesting a stronger correlation between AI and Bitcoin than between Bitcoin and yield farming.
The yield farming sector’s total market cap is currently at $5.13B, with $869.79 million in volume in the last 24 hours. DeFi protocol Uniswap leads the sector with a market cap of $4.85 billion, while Trader Joe saw the most substantial gains, up 4.15% in 24 hours.
In the past 24 hours, BTC is up 1.91% as of press time when priced in Dollars. However, the leading cryptocurrency does not appear to be leading the market, as UNI is up 1.46% against Bitcoin over the same period.
(Source: TradingView)
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Liam ‘Akiba’ Wright
Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
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