The AI cryptocurrency market experienced a significant shakeup today due to Chinese AI startup DeepSeek's entry into the scene with competitively priced AI models. This development has put pressure on established U.S. tech giants and led to a notable decrease in the value of major AI tokens.
Tokens such as Near Protocol (NEAR), Internet Computer (ICP), Render (RENDER), and Filecoin (FIL) saw their values tumble between 8-10%, reflecting the market's reaction to DeepSeek's disruptive pricing strategy. Overall, the market cap declined by 7.66%, indicating a broader impact of this event on the AI crypto sector.