AI-Related Tokens Surge as Maple, Ren Fall: CoinDesk Market Index Week in Review

Fetch.ai (FET), a blockchain-based project focused on artificial intelligence (AI), was the top performer this week among the 167 digital assets in the CoinDesk Market Index .

The FET token’s price has jumped from 6 cents at the start of the week to now 11 cents, surging 80% in the five days since Sunday and 30% in the past 24 hours alone.

The price jump came after the release of an upgrade to the Fetch.ai wallet with features including “more easy-to-use messaging,” “fewer server interactions” and “faster load times.”

Numerai, a blockchain-based software that provides stock market forecasts and makes investments based on AI and machine learning, also saw its native token NMR’s price leaping from $11.6 to now $15.8, up nearly 40% in the past five days.

Cartesi (CTSI) and Adventure Gold

both surged roughly 20% this week, respectively.

Losers included blockchain-based lending platform Maple Finance’s MPL token, which fell over 35% in the past five days as crypto firm Orthogonal Trading reportedly defaulted on loans on Maple Finance. MPL was recently trading at $4.50, up 2% in the past 24 hours.

Bridging platform Ren protocol’s REN token was trading down 15% in the past five days. Following the FTX exchange’s collapse and the following hack, the exploiter exchanged millions of dollars worth of ether to ren bitcoin (renBTC), a token that represents bitcoin on other blockchains, in late November.

Ribbon Finance’s RBN token and SushiSwap’s SUSHI token were also down double-digits this week.

Looking at sector performance, the CMI digitization sector was down over 5% this week, while the computing sector was down nearly 2%. The smart contract platform sector gained roughly 2%.