The world of crypto last week saw a newfound focus, and it centers on AI tokens, with CryptoWatch bringing you everything there is to know about these new top performers in the market. It also goes alongside the new letter sent by FTX Trading's current CEO John Ray III who talked about how Sam Bankman-Fried left the company with massive problems and lied about its state to the court.
Additionally, take this chance to know the current prices of the top coins in the market, particularly with its performance coming in this week.
AI Tokens Surge in the World of Crypto
The rising popularity of artificial intelligence has seen a newfound industry to take over, and this is the blockchain ecosystem, with coins tied to AI projects now seeing a significant surge in the world of crypto. With the latest rise in stocks by AI companies in their recent programs and developments, crypto found a new way to join the trend with AI, like how Nvidia grew its market value in the industry.
These are called AI Tokens, and according to Reuters, it recently surged to $26.4 billion from its $2.7 billion market valuation in April 2023.
In a short amount of time, tokens linked to AI projects saw gains from 145% to 297% in the past 30 days, outperforming the rallying bull, Bitcoin. Moreover, it is believed that the blockchain could be the answer to AI's need to improve privacy and security in the future.
Read Also: Bitcoin Creator Satoshi Nakamoto Predicted BTC's Massive Energy Consumption in Early Emails
FTX vs. SBF: Disgraced CEO Lied
Current FTX CEO John Ray III addressed Judge Lewis Kaplan in a letter, best known as the judge behind Sam Bankman-Fried's trial and conviction, talking about how SBF lied in his statements and amidst his sentencing. Ray III did not hold back on his words against FTX's former CEO, going as far as to say that his appeal for a lighter sentence is "demonstrably false" as he caused "vast" harm against its customers and investors.
In one example, Ray III said that when he took over FTX after the Chapter 11 bankruptcy filing events, the company only had 105 BTCs despite 100,000 Bitcoin entitlements to its customers.
Moreover, the FTX CEO said that FTX is "neither solvent nor safe," as opposed to SBF's previous statement, particularly during this time when the defunct crypto exchange is looking to pay off its debts in the market.
Top Coin Prices Now
After a massive rally of Bitcoin to its $72,000 all-time high, the token saw a massive drop coming in this week, and the same can be said for the other cryptocurrencies in the market alongside it. Based on CoinMarketCap's recent rankings, the Fear & Greed index reduced to 75 Greed, as opposed to the previous weeks' where it was more than 80.
- Bitcoin (BTC) - Price: $66,593.01 | 1.10 percent decrease over the past seven days
- Ethereum (ETH) - Price: $3,422.27 | 4.67 percent decrease over the past seven days
- Tether (USDt) - Price: $1.00 | 0.10 percent increase over the past seven days
- Binance Coin (BNB) - Price: $565.14 | 0.68 percent increase over the past seven days
- Solana (SOL) - Price: $182.22 | 7.88 percent decrease over the past seven days
Related Article : CryptoWatch: Bitcoin's $72k All-Time-High, Sam Bankman-Fried Conviction, FLOKI's Rally to Top 60
