AI tokens outpace memecoins as crypto comeback strengthens: Crypto Daybook Americas
By Omkar Godbole (All times ET unless indicated otherwise)
As bitcoin clings to recent gains above $93,000, capital shifts from memecoins to utility tokens, with assets supposedly linked to artificial intelligence (AI) leading the charge.
CoinDesk’s Culture and Entertainment Select Index, Metaverse Select Index, 10 Capped ex-Bitcoin Index, and the DeFi Select Index have gained over 4% each over the past 24 hours. The CoinDesk Meme Select Index was little-changed to negative, pausing its recent rally.
It shows capital rotating into substance, or established sub-sectors with utility, such as DeFi and metaverse, rather than speculative, jokey cryptocurrencies. That’s a strong signal for the sustainability of crypto’s recent…
