Market Update: AI Projects Correcting, Cardano Is the Only One Breaking Through
After a strong start to the year, with Bitcoin initially rising from about $93,000 yesterday evening to nearly $98,000, it is now hovering around $97,000.
After a strong start to the year, with Bitcoin initially rising from about $93,000 yesterday evening to nearly $98,000, it’s stabilizing around $97,000. In the last 24 hours, Bitcoin has risen by roughly 1.4%.
The altcoin market followed this trend. Ethereum saw a rise of about 1.5% during the same period, while Solana climbed nearly 2.4%. Notable movers include Cardano (+11%) and the memecoin SPX6900 (+25%).
According to Briggs, the Ecosystem Director at development firm Intersect, Cardano is on the cusp of a "crucial phase" after the Voltaire upgrade. Founder Charles Hoskinson has, as usual, made big promises: Cardano would be "unstoppable" and will "grow to take on the world".
It’s also interesting that the meme-token crowd promoted by meme coin guru Murad is regaining momentum after months of consolidation. Gigachad (GIGA) is also up about 14% in the last 24 hours.
The highly hyped AI coin is cooling off after sharp gains. The largest AI agent aixbt fell about 25%. AI agent platforms Virtuals Protocol and ai16z corrected by 15% to 20%. Still, over the last seven days these two tokens are up roughly 38% (Virtuals) and 123% (ai16z).
The HYPE-Token is also correcting modestly now. After rising about $3.50 to nearly $35, it’s trading around $23. The airdrop gave users of the trading platform, also known as "On-Chain Binance", a genuine windfall.
The market is looking ahead to the upcoming term of the designated American president Donald Trump, hoping for lighter regulation and much friendlier terms for crypto firms. Investors see this as legitimizing cryptocurrencies and blockchain tech.
