Growth of AI Tokens in the Crypto Economy
The sector of the crypto economy dedicated to artificial intelligence (AI) has been expanding steadily. In the past 34 days, since November 29, 2023, the market capitalization of AI-focused crypto assets has surged by $1.75 billion. This significant growth has propelled the market cap of the AI-centric crypto industry to reach $7.04 billion as we move into 2024.
Impressive Performance of Leading AI Tokens
Among the leading AI tokens, The Graph (GRT) has emerged as the frontrunner, boasting a remarkable 40.73% increase over the previous month. With a market valuation of $2 billion, GRT is the top performer among the ten leading tokens. It has witnessed a 10% increase in just the past day. Fetch (FET) has also experienced significant growth, climbing 34.29% over the month.
Other notable performers include AGIX and OCEAN, which increased by 5.85% and 4.45% respectively over the last 30 days. On the other hand, Bittensor (TAO) experienced a decline of 21% last month, but it has recently rebounded by 3% in the past 24 hours. 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, IMGNAI plunged 45.77% in 30 days, and BBANK decreased 38.9% against the greenback.
The Growth and Potential of AI Tokens
The figures reveal that the AI cryptocurrency market expanded by an impressive 540% in under a year, with about $1.75 billion of this growth occurring in the last 34 days. This growth signifies the prosperity and potential within the crypto economy associated with AI technologies.
As we approach 2024, it remains to be seen how this momentum will continue or shift. The AI crypto sector, notably 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
How Much of Your IRA Should Be Made Up Of Precious Metals
When investing in precious metals, the most important thing to know is that they aren't just for wealthy people. They don't require you to be wealthy to invest in them. There are many methods to make money off of silver and gold investments.
You might also be interested in buying physical coins, such bullion rounds or bars. It is possible to also purchase shares in companies that make precious metals. Another option is to make use of the IRA rollover programs offered by your retirement plan provider.
You'll still get the benefit of precious metals no matter which country you live in. They offer the potential for long-term, sustainable growth even though they aren’t stocks.
And, unlike traditional investments, their prices tend to rise over time. If you decide to sell your investment, you will likely make more than with traditional investments.
What is a Precious Metal IRA?
You can diversify your retirement savings by investing in precious metal IRAs. This allows you to invest in gold, silver and platinum as well as iridium, osmium and other rare metals. These are “precious metals” because they are hard to find, and therefore very valuable. These are good investments for your cash and will help you protect yourself from economic instability and inflation.
Bullion is often used to refer to precious metals. Bullion refers actually to the metal.
You can buy bullion through various channels, including online retailers, large coin dealers, and some grocery stores.
A precious metal IRA allows you to invest directly in bullion, rather than buying stock shares. This means you'll receive dividends every year.
Precious metal IRAs do not require paperwork nor annual fees, unlike regular IRAs. Instead, you pay only a small percentage tax on your gains. Plus, you can access your funds whenever you like.
How much are gold IRA fees?
A monthly fee of $6 for an Individual Retirement Account is charged. This includes account maintenance and any investment costs.
Diversifying your portfolio may require you to pay additional fees. These fees will vary depending upon the type of IRA chosen. Some companies offer free check accounts, but charge monthly fee for IRA accounts.
Most providers also charge annual management costs. These fees range from 0% to 1%. The average rate per year is.25%. These rates are often waived if a broker like TD Ameritrade is used.
Should you Invest In Gold For Retirement?
How much money you have saved, and whether or not gold was an option when you first started saving will determine the answer. If you're unsure about which option to choose then consider investing in both.
Gold offers potential returns and is therefore a safe investment. Retirees will find it an attractive investment.
While many investments promise fixed returns, gold is subject to fluctuations. This causes its value to fluctuate over time.
This does not mean you shouldn’t invest in gold. Instead, it just means you should factor the fluctuations into your overall portfolio.
Another benefit to gold? It's a tangible asset. Unlike stocks and bonds, gold is easier to store. It can be easily transported.
You can always access gold as long your place it safe. Additionally, physical gold does not require storage fees.
Investing in gold can help protect against inflation. It's a great way to hedge against rising prices, as gold prices tend to increase along with other commodities.
Also, you'll reap the benefits of having some savings invested in something with a stable value. When the stock market drops, gold usually rises instead.
Another advantage to investing in gold is the ability to sell it whenever you wish. Like stocks, you can sell your position anytime you need cash. You don't even need to wait for your retirement.
If you do decide to invest in gold, make sure to diversify your holdings. Don't place all your eggs in the same basket.
You shouldn't buy too little at once. Begin by buying a few grams. Then add more as needed.
Remember, the goal here isn't to get rich quickly. Instead, the goal is to accumulate enough wealth that you don't have to rely on Social Security.
Gold may not be the most attractive investment, but it could be a great complement to any retirement strategy.
What are the benefits of a gold IRA
Many benefits come with a gold IRA. It's an investment vehicle that lets you diversify your portfolio. You decide how much money you want to put into each account, and when you want it to be withdrawn.
You also have the option to roll over funds from other retirement accounts into a gold IRA. If you are planning to retire early, this makes it easy to transition.
The best part? You don’t need to have any special skills to invest into gold IRAs. They're readily available at almost all banks and brokerage firms. Withdrawals are made automatically without having to worry about fees or penalties.
However, there are still some drawbacks. The volatility of gold has been a hallmark of its history. It is important to understand why you are investing in gold. Are you looking for safety or growth? Are you looking for growth or insurance? Only then will you be able make informed decisions.
You might want to buy more gold if you intend to keep your gold IRA for a long time. One ounce won't be enough to meet all your needs. Depending on the purpose of your gold, you might need more than one ounce.
A small amount is sufficient if you plan to sell your gold. Even one ounce is enough. You won't be capable of buying anything else with these funds.
Statistics
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- (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)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
External Links
bbb.org
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear in 1990 – WSJ
- How do you keep your IRA Gold at Home? It's not exactly legal – WSJ
law.cornell.edu
- 7 U.S. Code SS7 – Designation board of trade as contract marketplaces
- 26 U.S. Code SS 408 – Individual retirement accounts
finance.yahoo.com
How To
Tips to Invest in Gold
Investing in Gold is one of the most popular investment strategies worldwide. There are many benefits to investing in gold. There are many ways you can invest in gold. Some people choose to purchase gold coins physically, while some prefer to invest with gold ETFs.
You should consider some things before you decide to purchase any type of gold.
- First, make sure you check if your country allows you own gold. If so, then you can proceed. You can also look at buying gold abroad.
- Second, it is important to know which type of gold coin you are looking for. You can go for yellow gold, white gold, rose gold, etc.
- You should also consider the price of gold. It is best to start small and work your way up. Diversifying your portfolio is a key thing to remember when purchasing gold. You should invest in different assets such as stocks, bonds, real estate, mutual funds, and commodities.
- Remember that gold prices are subject to change regularly. Keep an eye on current trends.
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By: Jamie Redman
Title: AI Crypto Market Cap Surges to $7 Billion Amidst Record 30-Day Gains
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
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