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In the past week, cryptocurrencies centered around AI and meme coins outperformed Bitcoin, even as Bitcoin reached a record high of $70,184 on March 8. AI altcoins and those related to big data experienced a notable surge, with a 43.4% increase in trading volume and an 11.6% rise in market capitalization. Despite this, they still constitute a relatively modest 1.6% of the overall 2.6 trillion cryptocurrency market, where Bitcoin maintains dominance at 51.72%. The rally in AI altcoins suggests a growing confidence among investors. However, concerns persist regarding the long-term sustainability and practical utility of these AI-themed cryptocurrencies and meme coins.
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