These 3 Crypto AI tokens are up over 20% in the past week

It’s been quite a remarkable week on the stock market, and certainly certain cryptocurrencies have joined in the excitement. Starting at 1:30 pm ET on Friday, Internet computer (ICP -4.95%), NEAR protocol (ALMOST -5.63%)and Link (BUNDLE -4.90%) up 21.1%, 20.5% and 20% respectively from the previous Friday’s close.

This kind of week-to-week movement is notable, even in the more volatile crypto sector. Let’s look at what factors might be at play regarding these three AI-adjacent crypto projects and whether this movement has the legs to continue from here.

AI catalysts abound in the crypto sector

It’s worth noting that each of these three projects carries various AI catalysts that are worth exploring, especially in light of the various moves we saw in the stock market last week. The outperformance of a number of AI-related chip names has generated huge excitement in other companies and projects with AI exposure, with NvidiaThe rather impressive move has grown over the past week (up more than 15%), paving the way for similar moves in assets that could be even more heavily influenced by these secular trends.

Internet Computer was one of the best performing crypto assets last week as investors are increasingly valuing the possibility of this project becoming an AI blockchain as its main focus.

DecideAI network demand has remained strong, and there is no shortage of investors who believe the long-term opportunity for the Internet Computer as a potential foundational technology underpinning the AI ​​revolution will continue to offer huge upside (and downside, for that matter. ) during periods of higher volatility such as what we are seeing unfolding now.

The NEAR protocol has also attracted the interest of AI investors in terms of the platform’s focus on building one of the most robust infrastructures to support decentralized applications in the AI ​​space over time.

Performance is everything, for investors looking at which layer 1 networks can provide the foundation for future AI applications to be built on. With strong ecosystem growth and a focus on creating a truly high-performance DeFi network, I believe NEAR will remain on many investors’ watchlists.

Finally, Chainlink’s incredible weekly movement seems to be related to strong social media activity and chatter around the Oracle network. Chainlink essentially allows data streams (off-chain) to be ported to various blockchain-based applications.

Many investors increasingly see Chainlink as a key component of decentralized application development, and most AI applications will likely require a lot of off-chain data to function. Thus, this could be a shovel play worth watching – at least, social media data suggests that many others in the market think so.

Can this rally continue?

This week’s impressive movement in these three AI-related projects really highlighted the kind of volatility that crypto-tokens have, but also highlights the boost that megatrends like AI can give markets. At the intersection of these two highly volatile trends are these three projects, which I expect will continue to have plenty of volatility for traders and investors to digest in the coming weeks.

Right now, the trend seems to be solidly bullish for these three projects. I’m certainly not going to suggest that going against the trend with these projects is the right move in the short to medium term, as this momentum seems real.

But investors will certainly want to hand-pick their winners in this space, so I think identifying one or two projects that may be leaders in their respective niches may be a better strategy than the bucket-like trading activity that we see it in exposed cryptos. at AI this week.