Analysis: AI Boom Bypasses Crypto Market, NEAR-USDT Becomes High Correlation Alternative Option

On July 29, according to BIT analysis, some cryptocurrency traders are disappointed as digital assets have failed to keep pace with the strong rally in AI-themed trading. In contrast, the upward momentum of this market trend has primarily focused on DRAM-related stocks, energy stocks, and broader investment tools such as the South Korean broad-based ETF EWY. However, some crypto tokens have not been entirely absent. NEAR-USDT has shown a high correlation with the AI-themed market trend, with its price movements mirroring the trend in both upward and downward movements. Near Protocol externally promotes the narrative of "AI + Blockchain," focusing on AI agents and data infrastructure. Therefore, its price movements are often driven more by market sentiment related to the AI narrative rather than by the protocol's own fundamentals. As the crypto market further integrates with traditional finance, traders have more tools available to position themselves for dominant macroeconomic themes.