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Why are AI crypto coins crashing?

Why are AI crypto coins crashing?

Artificial Intelligence (AI) coins, including Bittensor (TAO), Internet Computer (ICP) and Near Protocol (NEAR), are trading under heavy headwinds as risk-off sentiment spreads across the crypto market. The segment’s total market capitalization has declined by 3.4% over the past 24 hours to $12.5 billion, undermining potential buy-the-dip opportunities.

Meanwhile, the leading AI token, Bittensor, is down nearly 3% intraday, trading at $158 at the time of writing on Monday. Internet Computer is down by almost 7% over the past 24 hours and approximately 20% over the past week. Near Protocol is also navigating immense overhead pressure, trading at $1.01 amid a 6% intraday loss and a 17% seven-day loss.

AI crypto coins market cap | Source:…

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