Crypto Market Sees Broad Declines as AI Tokens Lead Losses
Latest SoSoValue data shows continued weakness in AI-related cryptocurrencies, with VIRTUAL and COAI dropping sharply as BTC and ETH remain under pressure.
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Summary
On November 3, SoSoValue reported ongoing declines across cryptocurrency sectors, led by a 4.82% drop in the AI sector. Virtuals Protocol fell 12.46% and ChainOpera AI dropped 10.38%, while Bitcoin slipped 0.25% to near $109,000. Ether was down 0.72%, falling below $3,900. The only notable gainer was 0G, which rose 3.83%.
Terms & Concepts
- AI Tokens: Cryptocurrencies linked to artificial intelligence projects, often used to fund or power AI-based applications within blockchain ecosystems.
- BTC: Abbreviation for Bitcoin, the first and largest cryptocurrency by market capitalization, used as a decentralized digital currency.
- ETH: Abbreviation for Ether, the native cryptocurrency of the Ethereum blockchain, used for transactions, smart contracts, and decentralized applications.