AI tokens are unexpectedly outperforming and leading market performance in September. A wave of positive news has fueled price surges for several AI tokens, raising expectations for others in the same sector.
This article highlights the key drivers behind the impressive performance of AI tokens in September.
AI Token Market Cap Rebounds Strongly in September Thanks to Worldcoin
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CoinMarketCap data shows that over the past seven days, the AI sector’s market capitalization rebounded nearly 11%, reaching $33.9 billion. Daily trading volume jumped more than 120% to $8.8 billion.
The chart indicates that upward momentum began on September 7. Before that, market capitalization had moved sideways with no major fluctuations. So, what triggered the rally on September 7?
The answer likely lies in positive developments from Worldcoin (WLD). On that day, WLD broke above $1 after launching its anonymized multi-party computation in partnership with global academic institutions.
A day later, Eightco Holdings revealed a $250 million corporate treasury strategy centered on Worldcoin. Around the same time, crypto mining company BitMine invested $20 million into Eightco.
These back-to-back announcements pushed WLD up nearly 130% in September, taking the price to $2.
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From a strict technology standpoint, CoinMarketCap does not categorize Worldcoin under the AI sector. However, investors often associate it with AI because its founder, Sam Altman, is a billionaire with significant influence in artificial intelligence.
According to Artemis, which includes WLD in its AI categorization, Worldcoin’s rally made AI tokens the best-performing sector in September.
Other AI-related tokens such as ARKM, KAITO, ATH, VIRTUAL, and ai16z also posted an average 30% gain over the past seven days.
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Positive News Boosts Other AI Tokens in September
Coincidences or not, several other AI tokens also benefited from bullish news in September, drawing more attention to the sector.
For example, OpenLedger (OPEN) surged 135% after listing on Binance. More recently, Coinbase and Upbit listed FLOCK, sending the token up more than 200% to a new all-time high.
Data also suggests Korean traders are critical to this rally. With KAITO, about 33% of trading volume came from Upbit. For FLOCK, Upbit accounted for over 36% of total trading volume.
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The Korea Blockchain Week (KBW), which will be held in Seoul from September 22 to 28 and focusing heavily on AI, further strengthened Korea’s interest in promoting this sector.
Additionally, X user rb3k highlighted another intriguing trend. Tokens that recently surged often belonged to the Base blockchain and followed a pattern: first listed on Coinbase, then listed on Upbit. Based on this, rb3k suggested that other related tokens could soon see similar rallies.
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“From what I can see so far, the only Base coins on Upbit with KRW pairs are KAITO, VIRTUAL, FLOCK, and AERO. They’ve already pumped insane volume on the first three… wonder if they go for $AERO at some point,” rb3k noted.
In conclusion, Worldcoin’s rise and the excitement of Korean traders are contributing to the surge in AI tokens this September.
The widespread rally across the AI sector also signals that retail investors are beginning to reallocate capital after two months of stagnation, during which the altcoin market capitalization (TOTAL3) hovered around $1 trillion.
