AI-themed crypto assets showed significant strength over the past 24 hours, with the sector’s total market cap rising to approximately $18.6 billion, up about 9.4%. During the same period, the overall crypto market cap increased by only around 1.9%, indicating that capital is increasingly flowing into the AI sector.
Trading volume in the sector has increased, with NEAR leading the gains.
According to CoinGecko data, the AI token sector recorded a 24-hour trading volume of approximately $2.42 billion. Among subsectors, AI agents rose 6.6%, AI application projects increased 6%, and DeFi projects integrating AI gained 8.1%.
Among large-cap tokens, NEAR rose 20.8% in 24 hours to approximately $3.05. Artificial Superintelligence Alliance (formerly FET) increased 11.7% to $0.1674, Render rose 10.2% to $1.42, and Bittensor gained 6.9% to approximately $229.48.
The project's progress has become a more direct catalyst.
This rally occurred around the same time as the AI safety summit hosted by King Charles III of the UK, but reports indicate there is currently no evidence of a direct causal link between the two. Rather than the summit itself, the individual project developments behind each token better explain the price movements.
NEAR's price increase is primarily linked to progress in its confidential transaction infrastructure. On September 17, the total value locked confidentially on the NEAR network surpassed $70 million, triggering the first snapshot of its incentive program.
As scheduled, 333,333 milestone tokens have been reserved for distribution to eligible users. Users must hold a confidential balance exceeding $100 and have an active trading history; the allocation to any single wallet cannot exceed 2% of the total supply.
NEAR also stated that these tokens will remain locked until the asset’s 3-day volume-weighted average price reaches at least $3.33. Its Confidential Intents system currently supports privacy-preserving execution across more than 30 blockchains.
Bittensor expands to the Base network
Bittensor's rise is related to the launch of its subnet, OpenRoboto, on Base. CoinGecko noted that this subnet integrates via ForeverMoney and utilizes Chainlink’s cross-chain interoperability protocol to enter Coinbase’s Ethereum Layer 2 ecosystem.
The report also noted that NEAR has recently been advancing the integration of AI with on-chain payments. In July, the network launched a staking-based payment tool that allows users to lock up NEAR tokens and receive monthly credits for access to 43 AI models, covering services from OpenAI, Anthropic, and Google.
UK conference focuses on AI safety principles
At Dumfries House in East Ayrshire, Scotland, the British Royal Family brought together executives from companies such as Nvidia, OpenAI, Anthropic, and Google DeepMind, along with representatives from government and civil society, to discuss principles for the development and use of AI.
Buckingham Palace said the meeting focused on whether businesses and governments could establish shared principles, but no agreements, binding commitments, or specific regulatory frameworks were announced. Prior to the meeting, King Charles III stated that AI development must place safety at its core and warned that if such technologies fall into the wrong hands, they could pose serious risks.
The report suggests that the meeting reflects growing global interest in AI safety discussions, but for the crypto market, short-term price movements are still primarily driven by specific project developments and on-chain incentives.