The good performance of SingularityNet is linked to the enthusiasm of investors for artificial intelligence projects since the beginning of the year.
The year is off to a pretty good start for the cryptocurrency space, with Bitcoin managing to recoup its losses from the FTX crash. Similarly, Ethereum has once again gloriously risen above the token $1,500 mark.
While the cryptocurrency market ended 2022 on a bearish note, 2023 is looking pretty good. After fifteen days, the sector’s global capitalization has gone from 813 to 972 billion dollars, an increase of 19.55%. Bitcoin reversed the $20,000 mark, and Ethereum settled comfortably above $1,500. Moreover, Solana, in particular, has seen its price more than double since the start of the year.
Aside from the bull run, there is other good news: The lawyers for the FTX restructuring team announced that they were able to recover $5 billion of the platform’s funds. They also plan to sell the companies acquired by the exchange, to speed up the refund process for clients of the platform.
Top Cryptocurrencies: AGIX, the Grand Champion of Recovery
SingularityNET’s AGIX token is leading the rise in the cryptocurrency sector. Indeed, the data indicate that the price of the cryptocurrency would have increased by 226.56% in its last 7 days. Based on its peak during the week, its growth even reaches 428%. The good performance of SingularityNET is linked to the enthusiasm of investors for artificial intelligence projects since the beginning of the year.
Aptos (APT), for its part, is basking in the hopes pinned on cryptocurrencies. In addition, the founders of the project present it as the most secure Blockchain in the industry. Many analysts believe that the APT token could replicate the performance of SOL in early 2021.
As for NuCypher and Decentraland, there are no specific reasons behind the growth of these two cryptocurrencies. However, it should be specified that the Metaverse project tokens have experienced relatively high growth compared to the rest of the market. Flow (+52.1%), Sandbox (+45%), and GALA (+57%) in weekly data.
Crypto Failures: Neutrino USD Plummets
The Waves network stablecoin continues its descent. Its current price, $0.3621, is moving further and further away from its parity with the dollar. During the week, USDN lost 18.65%, the worst performance of the entire crypto market.
Other cryptocurrencies did not experience negative growth. Their performance was simply less explosive than the market average. For example, Pax Gold, the cryptocurrency that replicates the price of gold, is usually a project that grows at fairly moderate levels like its benchmark.
While some are already clamoring for the return of the bullfight after this good start to the year for the crypto market, it is important not to sell the bear’s skin before it has been killed.
By Audy Castaneda
