This week, AI-themed memecoins stole the spotlight in the cryptocurrency market, with the overall market cap reaching $2.438 trillion.
Leading the pack, the $GOAT token surged by 173%, propelling its valuation to $940 million within two weeks. This explosive growth underscores the strong narrative surrounding AI-driven tokens, with major exchanges now listing GOAT perpetual contracts.
The broader market saw mixed performance, as Bitcoin rose by 0.43%, while Ethereum fell by 3.62%. Long liquidations spiked to $203 million, and Bitcoin’s funding rate climbed to 12.69%. Renowned investor Paul Tudor Jones also revealed he is going “long Bitcoin,” adding to the bullish sentiment.
In major updates, payments giant Stripe acquired Bridge for $1.1 billion, marking a significant expansion in fintech. Worldcoin, now rebranded simply as “World,” launched a new Layer 2 solution, while discussions emerged around Sky’s potential rollback of the MakerDAO rebrand. Uniswap also introduced permissionless bridging, further enhancing the DeFi ecosystem.
🚀 CMC Market Pulse: AI Memecoins Dominate the Narrative.
Total market cap at $2.438T.$GOAT token surges 173%!
Stripe acquires Bridge for $1.1B!Let's unpack this week's crypto market 🧵👇
1/6 pic.twitter.com/Mnq2Tqjbi2
— CoinMarketCap (@CoinMarketCap) October 25, 2024
AI Narratives Hits Up
AI narratives and authenticity debates are heating up, driven in part by Truth Terminal, a project sparking discussions on the role of authenticity in the digital era. Investor Marc Andreessen added to the conversation, sharing insights on the intersection between AI and crypto.
In the memecoin and airdrop scene, GOAT’s remarkable climb reflects continued enthusiasm for AI-themed tokens. Additionally, pump.fun introduced a zero-fee terminal, with an airdrop in the works. Scroll announced SCR claims for 500,000 wallets, and Apecoin saw a boost following the launch of ApeChain.
This week’s market developments reveal the strong influence of the AI narrative on token valuations and highlight significant strides in both DeFi and fintech.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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