A number of cryptocurrency assets tied to artificial intelligence have seen substantial price increases against the background of Bitcoin’s rate consolidation.
According to the analytical service CryptoRank, trading volumes for cryptocurrency projects—which aggregators call “Artificial Intelligence” (AI)—climbed 17% to $1.3 billion yesterday. This group of tokens saw an 11% increase in market cap in the last day, reaching $14.6 billion.
Collection of artificial intelligence cryptocurrency tokens. Blockchain Ranking
With a 29% increase to $1.68 in the past day, Fetch.ai (FET), the cryptocurrency of the platform with machine learning algorithms, topped the growth rate among AI-related crypto assets. Internet of Things devices can be easily connected to the platform. It was inaugurated in 2017 by alums of Cambridge University.
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In the last day, SingularityNET’s (AGIX) token—a decentralized platform for AI developers—has increased in value by 25%. The current AGIX rate is $0.6 as of 10:00 AM Moscow time.
The Ocean Protocol data economy project’s cryptocurrency, OCEAN, saw a 23% increase in growth rate, reaching $0.67. There was a 2% increase in the price of the RNDR token of the Render graphics processing network. The native token of Bittensor’s decentralized machine learning network, TAO, increased in value by 6% and reached $314.
There was a 4% increase in the price of the Worldcoin (WLD) project token, which is created by OpenAI executive director Sam Altman. The current price of WLD is $2.99 as of 10:10 Moscow time.
It has been noted time and time again that when news about AI-related accomplishments appears in the media, the price of altcoins belonging to this group tends to spike sharply.
Consequently, numerous large crypto assets responded to NVIDIA’s record financial performance in February by experiencing growth after the publication of the company’s profit report. In the wake of the ChatGPT chatbot’s announcement and the release of the Sora graphical AI network, crypto assets with an AI focus exhibited comparable dynamics.
The market value of semiconductor maker NVIDIA hit an all-time high on June 18th. When compared to all publicly traded companies in the world, NVIDIA’s market value is now higher than Microsoft’s. There was a $3.3 trillion valuation for the business. The founding year of NVIDIA was 1993.