In the October 29 sell-off, AI tokens were among the first assets to be repriced, rather than simply falling in step with the broader market.
Data showed (CoinDesk, October 29) that NEAR, positioned as an AI application, fell about 7.8% on the day, while TAO, a decentralized AI network, dropped about 3.1%. Over the same period, Bitcoin fell about 1.4%, Ethereum about 1.7%, and the CoinDesk Meme Coin Index about 3.4%. AI-related assets fell significantly more than the broader market, suggesting that selling pressure first hit the assets carrying the richest narrative premiums that day.
The day’s macroeconomic and earnings backdrop is worth noting: On October 28, the Federal Reserve held rates steady at 3.75% to 4%, though two officials favored a 25-basis-point hike. Samsung shares still fell about 4% after the company reported record quarterly profits, while Nasdaq 100 futures dropped about 1.1% after Alphabet’s earnings missed expectations. Derivatives also weakened: CoinDesk data showed that the 24-hour open-interest-adjusted cumulative volume delta turned negative for almost all major cryptocurrencies, with NEAR seeing its sharpest negative move around midday.
The pricing dynamics for AI tokens that day appeared more like those of U.S. tech stocks: uncertainty around the rate path and corporate earnings first affected the AI narrative, then flowed through to tokens. Divergence within the sector is more worth tracking than a broad-based rebound. The key variables are the next set of rate expectations and tech earnings, not the intraday price moves of any single token.
#AI板块 $NEAR $TAO
Personal opinion only; this does not constitute investment advice
Data showed (CoinDesk, October 29) that NEAR, positioned as an AI application, fell about 7.8% on the day, while TAO, a decentralized AI network, dropped about 3.1%. Over the same period, Bitcoin fell about 1.4%, Ethereum about 1.7%, and the CoinDesk Meme Coin Index about 3.4%. AI-related assets fell significantly more than the broader market, suggesting that selling pressure first hit the assets carrying the richest narrative premiums that day.
The day’s macroeconomic and earnings backdrop is worth noting: On October 28, the Federal Reserve held rates steady at 3.75% to 4%, though two officials favored a 25-basis-point hike. Samsung shares still fell about 4% after the company reported record quarterly profits, while Nasdaq 100 futures dropped about 1.1% after Alphabet’s earnings missed expectations. Derivatives also weakened: CoinDesk data showed that the 24-hour open-interest-adjusted cumulative volume delta turned negative for almost all major cryptocurrencies, with NEAR seeing its sharpest negative move around midday.
The pricing dynamics for AI tokens that day appeared more like those of U.S. tech stocks: uncertainty around the rate path and corporate earnings first affected the AI narrative, then flowed through to tokens. Divergence within the sector is more worth tracking than a broad-based rebound. The key variables are the next set of rate expectations and tech earnings, not the intraday price moves of any single token.
#AI板块 $NEAR $TAO
Personal opinion only; this does not constitute investment advice
