The 1st week of August saw significant volatility, with major ups and downs in the markets. Despite volatility in the broader market, Artificial Intelligence (AI) Cryptos have noted robust growth in recent sessions, improving investors’ sentiment.
TokenFi, Matrix AI Network, and Lumerin emerged as the top three AI cryptocurrencies that outshined the market leaders this week.
TokenFi emerged as the top AI token this week, rising 40%. At the same time, Matrix AI Network and Lumerin emerged as the 2nd and 3rd top gainers, beating several others.
Top Artificial Intelligence (AI) Cryptos of this week: TokenFi (TOKEN)
TokenFi price has been on a three-day gaining streak, reflecting a strong comeback by the bulls.
TOKEN has emerged as the top weekly AI cryptocurrency with a total weekly gain of nearly 40%. It has surpassed several other altcoins and blue-chip cryptocurrencies.
To become the foremost tokenization platform in the world, TokenFI is working to simplify the tokenization process. It has a live market capitalization of $75.56 Million and ranks 38th in the crypto-verse.
Moreover, the trend analysis suggests a long-term bearish trend with a strong bounce back in the short term. According to analysts, TokenFi crypto is headed for a recovery that will surpass the 20 to 50 day EMAs.
On the higher side, a breakout above the $0.087 level may indicate a bullish reversal. Furthermore, the price may head towards the higher supply level of $0.095 and $0.10.
Matrix AI Network (MAN)
Matrix AI Network was 2nd biggest gainer of the week, recording a rise of approximately 30%. MAN rebounded from the annual lows and experienced an impressive increase, surpassing the 50-day EMA.
Matrix AI blockchain is a public blockchain optimized with artificial intelligence. Matrix AI Network aims to build a self-evolving AI platform with safe data management and transparent data sharing.
It provides access to a growing set of on-chain AI models and applications. It has a live market capitalization of over $12.16 Million.
Despite being bearish in the long term, the short-term rise has boosted investor confidence. Currently, MAN lags behind the 200-day EMA by nearly 13% above a bullish breakout that may be observed on the chart.
Lumerin (LMR)
In recent sessions, the LMR stabilized near the demand zone. Despite forming a range at the support level, LMR gained 28%, emerging as the 3rd top AI crypto gainer this week.
The daily chart highlights that the journey of Lumerin crypto has been marked wiith volatility in recent sessions. The crypto declined steadily in the last three months, losing nearly 80% of its value.
However, the recent sessions showed significant buying activity, which improved investors’ confidence. The transaction volume has surged by 12.2% intraday to $1.1 Million, reflecting heightened demand.
A breakout from the higher boundary of the range could unlock further upside potential till the 200-day EMA and beyond. The volume to market cap ratio at 7.82% suggests low volatility.
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