The AI sector surged 54% in September, more than doubling the broader market’s gains.
Yet it remains the smallest of the six sectors.
Grayscale’s latest research report (FTSE Grayscale AI Crypto Industry Index):
The index gained 54% in September, while the overall crypto market rose just 24% over the same period.
Ranked by gains, from highest to lowest:
1. NEAR +183% — Positioned as infrastructure for AI-agent commercial activity. However, it’s down 7.1% over the past 7 days as it digests its gains. Market cap: about $6.33 billion.
2. VVV +70% — A privacy-focused AI service that emphasizes “not storing user prompts.” It gained another 4.4% over the past 7 days, maintaining its lead. Market cap: $1.42 billion. But note: perpetual futures open interest is $271 million (about 19% of its market cap), and trading volume is 32 times spot volume. Leverage is piling up.
3. WLD +47% — Human identity verification.
4. TAO +37% — Subnets provide model inference, computing power, and AI agents. It’s lagging for now; $300 is a level to watch.
My take: This isn’t a second wave lifting all AI coins in unison. The rally has already started to separate winners from losers. The real signal is whether capital can spread across all three subsectors—infrastructure, applications, and AI agents—instead of a handful of illiquid tokens propped up by high leverage. The AI sector’s total market cap is only $15 billion (the smallest among Grayscale’s six sectors), so large swings can happen when money flows in or out. People are loudly talking about AI “taking the baton,” but to confirm a real cycle, trading volume needs to follow through.
Data as of: 2026-10-05 05:00 UTC
Sources: Blockcast; BlockBeats
For informational purposes only. Not investment advice.
Do you hold any AI-related coins? Let’s chat in the comments.
$NEAR $TAO $VVV
Yet it remains the smallest of the six sectors.
Grayscale’s latest research report (FTSE Grayscale AI Crypto Industry Index):
The index gained 54% in September, while the overall crypto market rose just 24% over the same period.
Ranked by gains, from highest to lowest:
1. NEAR +183% — Positioned as infrastructure for AI-agent commercial activity. However, it’s down 7.1% over the past 7 days as it digests its gains. Market cap: about $6.33 billion.
2. VVV +70% — A privacy-focused AI service that emphasizes “not storing user prompts.” It gained another 4.4% over the past 7 days, maintaining its lead. Market cap: $1.42 billion. But note: perpetual futures open interest is $271 million (about 19% of its market cap), and trading volume is 32 times spot volume. Leverage is piling up.
3. WLD +47% — Human identity verification.
4. TAO +37% — Subnets provide model inference, computing power, and AI agents. It’s lagging for now; $300 is a level to watch.
My take: This isn’t a second wave lifting all AI coins in unison. The rally has already started to separate winners from losers. The real signal is whether capital can spread across all three subsectors—infrastructure, applications, and AI agents—instead of a handful of illiquid tokens propped up by high leverage. The AI sector’s total market cap is only $15 billion (the smallest among Grayscale’s six sectors), so large swings can happen when money flows in or out. People are loudly talking about AI “taking the baton,” but to confirm a real cycle, trading volume needs to follow through.
Data as of: 2026-10-05 05:00 UTC
Sources: Blockcast; BlockBeats
For informational purposes only. Not investment advice.
Do you hold any AI-related coins? Let’s chat in the comments.
$NEAR $TAO $VVV
