Gold ounces and the AI revolution: how the crypto market is rewriting the rules of the game

In early 2026, the cryptocurrency market is undergoing a profound transformation. While Bitcoin maintains positions above $93,000 and meme coins are losing their appeal, investors are massively shifting their focus to tokens with genuine functionality—especially those related to artificial intelligence. This shift indicates market maturity and a reassessment of which assets truly hold long-term value, similar to how gold is measured in ounces as a standard of value.

From Meme Coins to Artificial Intelligence: Capital Shift

The CoinDesk Meme Select Index remains in the negative range, halting its recent growth. At the same time, indices tracking more practical segments—Culture and Entertainment Select Index, Metaverse Select Index, DeFi Select Index, and 10 Capped ex-Bitcoin Index—each gained over 4% in the last 24 hours.

This contrast is no coincidence. It is a strong signal that investment capital has actively moved from purely speculative assets to segments with real application and economic logic. Money is now flowing into decentralized finance, metaverses, and most importantly, AI technologies, where alternative assets demonstrate tangible usefulness.

Growth Leaders: RENDER and Other AI Tokens Changing Rankings

Among the top 100 cryptocurrencies by market capitalization, AI-oriented projects have become the most vulnerable. RENDER from Render Network surged 20% in the last 24 hours, becoming the top performer in this category. Render is a leading decentralized GPU computing platform serving infrastructure for 3D visualization, machine learning, and generative AI applications.

Smaller AI tokens are also showing momentum. VIRTUAL from Virtuals Protocol increased by more than 6%, signaling that the entire AI token segment is receiving consistent attention from the market. This synchronized movement indicates that the wave of investment interest in AI infrastructure is gaining strength, not limited to a few leaders.

Sui, the native token of the Layer-1 blockchain, rose more than 15% in anticipation of the implementation of new privacy technologies. XRP, focused on payments, increased by 10% to its highest level in nearly two months. These movements reveal a broader trend: investors are increasingly valuing functionality and innovation over speculative hype.

Macroeconomic Concerns: Geopolitics and Fed Money Affect Risk Appetite

According to Antonio Di Giacomo, senior market analyst at XS.com, the escalation of geopolitical tensions—particularly US actions against Venezuela—has heightened perceptions of systemic risks. This has limited investors’ interest in risky assets, including cryptocurrencies.

However, there is also positive momentum. Analysts note that softer macroeconomic conditions and inflows into Bitcoin ETFs started 2026 on a positive note, accumulating over $1 billion in the first two trading days. These institutional capital inflows are critical for maintaining demand in the market.

Data on the US labor market is also expected, which could significantly influence the Federal Reserve’s monetary policy and, consequently, investors’ overall risk appetite.

Gold vs. Cryptocurrencies: Which Will Be the Winner in 2026?

An interesting point arises in comparing Bitcoin to gold. According to CoinDesk, Bitcoin is currently valued at 21 ounces of gold, and BTC’s market capitalization accounts for 6.25% of gold’s market cap. This ratio reflects concerns about whether cryptocurrencies can truly replace traditional stores of value.

On a technical level, Nasdaq is consolidating in a contracting triangle, signaling market uncertainty. Solana, despite an 11% increase since the beginning of the year, remains within a multi-month sideways channel. A breakout in either direction is likely to determine the next significant move for both traditional finance and the crypto market.

The current situation reflects a classic rethinking of what holds value. While gold has traditionally been measured in ounces and regarded as the ultimate safe haven, investors are now considering new alternatives—not only cryptocurrencies but also digital assets with real functionality and use cases. 2026 will be a decisive year in determining whether this trend will solidify or if the market will revert to more traditional sources of value.