This week in coins: Ethereum steals the show, Bitcoin loses steam and AI tokens explode

Illustration by Mitchell Preffer for Decrypt.

After a phenomenal run, Bitcoin cooled off. The Price of Bitcoin is now at $51,064, after a modest weekly decline of 2%.

As retail investors showed interest in the newly approved spot exchange-traded funds (ETFs), cash flowed into the market, but that has eventually slowed.

Nevertheless, the asset has risen significantly since the beginning of the year when it traded for $42,245 per coin.

But Ethereum (ETH) was the star of the week. The ETH prize has surpassed $3,000 for the first time since April 2022 and is now trading at $2,956, up 6% in the last seven days.

Investors are taking renewed interest in the asset as more major Wall Street firms bid to release a spot Ethereum ETF. The SEC has until May to approve or reject such a product.

And Uniswap (UNI), the 16th largest token, is doing really well: it's up 66% this week at $12.41. Yesterday, the stock skyrocketed on news that the foundation behind the popular decentralized exchange plans to overhaul its governance system to reward users who stake the token.

The idea is a “large-scale upgrade to Uniswap protocol governance to incentivize active, engaged and thoughtful delegation,” the foundation said. A vote will take place in March.

Last week, UNI was the best performing cryptocurrency among the top 20 coins and tokens.

But by far the most impressive performers were AI tokens, which boomed along with AI sticks following Nvidia's earnings report. The leading chipmaker reported revenue of $22.1 billion in the final quarter of 2023, beating analysts' estimates.

As a result, digital assets associated with AI are increasing rapidly. Worldcoin (WLD) is up 71% over the past seven days, while SingularityNET (AGIX) doubled before settling to a 71% gain this week.

Edited by Ryan Ozawa.

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