Billionaire entrepreneur Mark Cuban has witnessed a surge in his crypto investments, registering an increase of over $180,000 in value.
What Happened: Data from Arkham Intelligence shows that this sharp 40% rise within the last week has been largely attributed to the performance of a particular Ethereum (CRYPTO: ETH) based AI-related token within his holdings.
Artificial Liquid Intelligence (CRYPTO: ALI) an AI-focused cryptocurrency based on the ETH blockchain saw its value skyrocket by more than 100% over seven days.
ALI experienced a 32% increase in just 24 hours, with trading volumes surging by 40% to reach $3.7 million.
The boost in AI tokens emerged in the wake of OpenAI’s latest text-to-video generator named Sora. Other AI-linked tokens have followed suit, with both Ocean Protocol’s OCEAN (CRYPTO: OCEAN) and Fetch. AI’s FET (CRYPTO: FET) enjoyed a rise of over 10%. Moreover, TokenFi’s TOKEN (CRYPTO: TOKEN) climbed as high as 15%.
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Why It Matters: The surge in AI-token rally also comes as Ethereum’s co-creator, Vitalik Buterin said on X the potential for artificial intelligence to be utilized in the examination of smart contracts.
Meanwhile, Cuban fell prey to a crypto scam in September 2023. The incident led to a loss of about $870,000. Cuban disclosed to DL News that he had lost 5 ETH to the scammer.
“Someone got me for 5 ETH. I went on MetaMask for the first time in months. They must have been watching,” Cuban said.
Previous blockchain data revealed that last month Cuban relocated a sum—$2.827 million in MATIC tokens—to the Coinbase exchange. Transactions of this magnitude often incite speculation about potential future sell-offs.
Photo by Kathy Hutchins on Shutterstock
Price Action: At the time of writing, ETH was trading at $2,929, up 0.20% over the past 24 hours, as reported by Benzinga Pro.
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