AI Crypto Market Dips as Cost-Efficient DeepSeek Challenges Giants
- AI crypto market cap plunged 9.3% in the past month 24, now at $44.82 billion.
- DeepSeek’s low-cost AI model challenges established AI projects, fueling market doubts.
- FET, Virtual Protocol, and Render show slight daily gains but remain deep in weekly and monthly losses.
The AI cryptocurrency market has taken a hit, losing 9.3% of its value in the past month. It now stands at $44.82 billion, as investors react to the emergence of DeepSeek, a more affordable AI model from the Chinese market. The downturn has affected major AI-focused tokens, with RENDER, Virtual Protocol, FET, and INJ suffering heavy losses over the past week.
DeepSeek’s Arrival Shakes Things Up
DeepSeek, developed by High-Flyer, a Chinese quant trading firm, has challenged AI industry giants with its low development cost of just $6 million.
This is a stark contrast to the billions spent by OpenAI and Meta on large-scale AI models. Naturally, this raises concerns about the long-term sustainability of current AI projects.
Major AI Cryptos Struggle Despite Daily Gains
Some AI cryptocurrencies attempted a short-term rebound but remain in a downward trend over weekly and monthly time…
The post AI Crypto Market Dips as Cost-Efficient DeepSeek Challenges Giants appeared first on Coin Edition.
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AI Crypto Market Dips as Cost-Efficient DeepSeek Challenges Giants
- AI crypto market cap plunged 9.3% in the past month 24, now at $44.82 billion.
- DeepSeek’s low-cost AI model challenges established AI projects, fueling market doubts.
- FET, Virtual Protocol, and Render show slight daily gains but remain deep in weekly and monthly losses.
The AI cryptocurrency market has taken a hit, losing 9.3% of its value in the past month. It now stands at $44.82 billion, as investors react to the emergence of DeepSeek, a more affordable AI model from the Chinese market. The downturn has affected major AI-focused tokens, with RENDER, Virtual Protocol, FET, and INJ suffering heavy losses over the past week.
DeepSeek’s Arrival Shakes Things Up
DeepSeek, developed by High-Flyer, a Chinese quant trading firm, has challenged AI industry giants with its low development cost of just $6 million.
This is a stark contrast to the billions spent by OpenAI and Meta on large-scale AI models. Naturally, this raises concerns about the long-term sustainability of current AI projects.
Major AI Cryptos Struggle Despite Daily Gains
Some AI cryptocurrencies attempted a short-term rebound but remain in a downward trend over weekly and monthly time…
The post AI Crypto Market Dips as Cost-Efficient DeepSeek Challenges Giants appeared first on Coin Edition.
Read More
Whale Moves: MKR Sale Nets $9.4 Million USDT on Binance