News

BlockBeats news, May 11, as the global market goes crazy for AI, the crypto community—which has long lacked new narratives—can hardly contain itself and is now leveraging the AI concept to regain momentum. The storage sector was the first to surge. Ancient decentralized storage concept coins FIL and STORJ saw brief explosive growth last week. Among them, the FIL coin price rapidly climbed from the 0.9 US dollar range to 1.3 US dollars before slightly pulling back, and is currently quoted at 1.14 US dollars. The community even jokes: "Those who bought mining machines before finally don't need to defend their rights anymore; hard drives are skyrocketing." The open source model concept became the biggest highlight. The Base ecosystem token VVV performed particularly strongly; behind it, Venice AI is a privacy-focused, uncensored AI platform supporting chat, image generation, code writing, and more, integrating a variety of cutting-edge open source models. After consolidating earlier this year, VVV accelerated its rise, with the coin price soaring from 1.6 US dollars all the way to 16 US dollars. In addition, its default model Dolphin token also surged, with its market cap at one point exceeding 170 million US dollars. ICP, NIL and other projects also recorded significant gains due to their direct or indirect association with AI. Solana's ecosystem focuses on a "lightweight Meme+AI" approach. Goblin, which soared 137% today, is a typical example. This token combines Meme attributes with the AI Agent concept, and even includes an on-chain Agent's autonomous buyback mechanism. Similarly, the pure AI Meme ZEREBRO has recently jumped from a low of 7 million US dollars in market cap to 50 million US dollars. It is worth noting that top AI projects such as ACT, FARTCOIN, and GOAT from two years ago remain relatively stagnant and appear to have been forgotten by the market. BlockBeats believes that crypto's hype around AI, for now, is essentially "redemption in a narrative desert", lacking real innovation and effective adoption. The current frenzy seems more like a liquidity-driven party in the short term.

BlockBeats News, May 11th. At a time when the global market is going crazy for AI, the cryptocurrency industry, which has long lacked a new narrative, finally couldn't hold back and began to regain its popularity by embracing the AI concept. The storage sector took the lead. Ancient decentralized storage concept coins FIL and STORJ briefly surged last week. FIL's price quickly rose from the $0.9 range to $1.3, then retraced slightly, and is currently trading at $1.14. The community even joked: "Those who bought mining rigs in the past finally don't need to defend their rights anymore, hard drive prices have gone crazy." The open-source model concept became the biggest highlight. The Base ecosystem token VVV performed particularly well, with Venice AI behind it. Venice AI is a privacy-focused, censorship-resistant AI platform that supports various functions such as chat, image generation, and code writing, and integrates multiple cutting-edge open-source models. After consolidating throughout this year, VVV's price accelerated from $1.6 to $16. In addition, its default model token, Dolphin, also soared, with a peak market cap exceeding $170 million at one point. Projects such as ICP and NIL also saw significant gains due to their direct or indirect association with AI. The Solana ecosystem is taking the "Lightning-fast Meme+AI" route. Goblin, which surged 137% today, is a typical example. The token combines Meme characteristics with the AI Agent concept and also includes an on-chain Agent autonomous buyback mechanism. Meanwhile, the purely AI Meme project ZEREBRO recently rose from a $7 million market cap low to $50 million. It is worth noting that AI top projects from two years ago, such as ACT, FARTCOIN, and GOAT, are currently relatively quiet, seemingly forgotten by the market. BlockBeats believes that the cryptocurrency industry's hype around AI, at present, is still essentially a "redemption in the narrative desert," lacking real innovation and effective adoption. The current dazzling scene seems more like a capital frenzy under a short-term liquidity window.

Foresight News reports that Mike Alfred, founder and managing partner of Alpine Fox LP, tweeted that BTC and ETH are currently showing signs of decoupling from US stocks. Many people may attribute this to specific news such as the Clarity Act bill or the trading behavior of certain exchanges, but the underlying reason is much simpler: BTC and ETH are currently undervalued, while many US stocks are overvalued.