AI Crypto Market Cap Surges to $7 Billion Amidst Record 30-Day Gains
The realm of the crypto economy dedicated to artificial intelligence (AI) has been steadily expanding. In the past 34 days, starting from November 29, 2023, the market capitalization of AI-focused crypto assets has surged by an impressive $1.75 billion. More than half of the top ten AI tokens have experienced significant growth, with many recording double-digit gains. Notably, the graph (GRT) has emerged as the frontrunner, boasting an astonishing 40.73% increase over the previous month.
The previous year marked a significant phase for AI-driven cryptocurrency assets, and as we move into 2024, the market cap of the AI-centric crypto industry has reached an impressive $7.04 billion. This represents a substantial climb from its valuation of $1.1 billion on January 9, 2023. The figures reveal that in less than a year, the AI cryptocurrency market expanded by a remarkable 540%, with approximately $1.75 billion of this growth occurring in the last 34 days since November 29, 2023.
Leading AI Tokens Showcase Strong Performance
Leading the pack in the AI-focused token space is the graph (GRT), with a market valuation of $2 billion. It has seen a 10% increase in just the past day. Over the previous month, GRT surged by an impressive 40.73% against the greenback, making it the top performer among the ten leading tokens. Fetch (FET) also witnessed significant growth, climbing 34.29% over the month. Meanwhile, AGIX and OCEAN increased by 5.85% and 4.45%, respectively, over the last 30 days.
On the other hand, Bittensor (TAO) experienced a 21% decline last month, but it has recently rebounded by 3% in the past 24 hours and still maintains an impressive 791% rise from its record low in May. Covalent (CQT) enjoyed a 20.93% hike this past month, and a newcomer, PAAL, is up 8.9% for the month and has soared 52.48% over the past week. However, not all AI tokens fared well, as IMGNAI plunged 45.77% in 30 days, and BBANK decreased by 38.9% against the greenback.
The Future of AI Tokens in the Crypto Economy
In 2023, almost everything related to AI technologies seemed to turn to gold, marking an era of prosperity within the crypto economy. As we approach 2024, it remains to be seen how this momentum will continue or shift. The AI crypto sector, one of the most rapidly growing areas in the space, presents both intrigue and potential as it evolves in the ever-changing landscape of digital assets.
What are your thoughts on the growth of AI tokens over the last year and in the past 30 days? Share your opinions in the comments section below.
Frequently Asked Questions
What are some of the benefits of a gold IRA
It is best to put your retirement money in an Individual Retirement Account (IRA). It's not subject to tax until you withdraw it. You have complete control over how much you take out each year. There are many types of IRAs. Some are better suited to college savings. Others are made for investors seeking higher returns. Roth IRAs permit individuals to contribute after the age 59 1/2. Any earnings earned at retirement are subject to tax. But once they start withdrawing funds, those earnings aren't taxed again. This account is a good option if you plan to retire early.
A gold IRA is similar to other IRAs because it allows you to invest money in various asset classes. Unlike a regular IRA that requires you to pay taxes on the gains you make while you wait to access them, a gold IRA does not have to do this. People who want to invest their money rather than spend it make gold IRA accounts a great option.
An additional benefit to owning gold through an IRA, is the ease of automatic withdrawals. It means that you don’t have to remember to make deposits every month. Direct debits could be set up to ensure you don't miss a single payment.
Finally, gold is one of the safest investment choices available today. Its value is stable because it's not tied with any one country. Even in times of economic turmoil, gold prices tend not to fluctuate. Gold is a good option for protecting your savings from inflation.
How much should I contribute to my Roth IRA account?
Roth IRAs are retirement accounts where you deposit your own money tax-free. You can't withdraw money from these accounts before you reach the age of 59 1/2. However, if your goal is to withdraw funds before that time, there are certain rules you must observe. First, you can't touch your principal (the initial amount that was deposited). This means that you can't take out more money than you originally contributed. If you wish to withdraw more than you originally contributed, you will have to pay taxes.
The second rule is that you cannot withdraw your earnings without paying income taxes. Withdrawing your earnings will result in you paying taxes. Let's take, for example, $5,000 in annual Roth IRA contributions. Let's further assume you earn $10,000 annually after contributing. Federal income taxes would apply to the earnings. You would be responsible for $3500 The remaining $6,500 is yours. The amount you can withdraw is limited to the original contribution.
So, if you were to take out $4,000 of your earnings, you'd still owe taxes on the remaining $1,500. You'd also lose half the earnings that you took out, as they would be subject to a second 50% tax (half of 40%). So even though your Roth IRA ended up having $7,000, you only got $4,000.
There are two types: Roth IRAs that are traditional and Roth. A traditional IRA allows you to deduct pre-tax contributions from your taxable income. You can withdraw your contributions plus interest from your traditional IRA when you retire. You can withdraw as much as you want from a traditional IRA.
A Roth IRA doesn't allow you to deduct your contributions. After you have retired, the full amount of your contributions and accrued interest can be withdrawn. There is no minimum withdrawal amount, unlike traditional IRAs. Your contribution can be withdrawn at any age, not just when you reach 70 1/2.
How much gold do you need in your portfolio?
The amount you make will depend on the amount of capital you have. Start small with $5k-10k. As you grow, you can move into an office and rent out desks. Renting out desks and other equipment is a great way to save money on rent. You just pay per month.
You also need to consider what type of business you will run. My website design company charges clients $1000-2000 per month depending on the order. Consider how much you expect to make from each client, if you decide to do this kinda thing.
You won't get a monthly paycheck if you work freelance. This is because freelancers are paid. You may get paid just once every 6 months.
You need to determine what kind or income you want before you decide how much of it you will need.
I recommend starting with $1k-$2k of gold and growing from there.
What is the cost of gold IRA fees
Six dollars per month is the fee for an Individual Retirement Account (IRA). This fee includes account maintenance fees as well as any investment costs related to your selected investments.
Diversifying your portfolio may require you to pay additional fees. These fees can vary depending on which type of IRA account you choose. Some companies offer free check accounts, but charge monthly fee for IRA accounts.
A majority of providers also charge annual administration fees. These fees can range from 0% up to 1%. The average rate is.25% annually. These rates can be waived if the broker is TD Ameritrade.
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- Are you interested in keeping gold in your IRA at-home? It's not legal – WSJ
- Gold IRA: Add some sparkle to your retirement nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
Tips for Investing In Gold
Investing in Gold is one of the most popular investment strategies worldwide. Because investing in gold has many benefits. There are many ways to invest gold. There are many ways to invest in gold. Some prefer buying physical gold coins while others prefer gold ETFs (Exchange Traded Funds).
Before buying any type gold, it is important to think about these things.
- First, verify that your country permits gold ownership. If so, then you can proceed. You can also look at buying gold abroad.
- The second thing you need to do is decide what type of gold coins you want. You have the option of choosing yellow, white, or rose gold.
- Thirdly, it is important to take into account the gold price. It is better to start small, and then work your way up. You should diversify your portfolio when buying gold. Diversifying your portfolio should be a priority, including stocks, bonds and real estate.
- Last but not least, remember that gold prices fluctuate frequently. Be aware of the current trends.
By: Jamie Redman
Title: The Rise of AI Crypto Tokens: Record Gains in Market Cap
Sourced From: news.bitcoin.com/ai-crypto-assets-skyrocket-540-in-under-a-year-hitting-7-billion-market-cap/
Published Date: Tue, 02 Jan 2024 18:30:48 +0000