- AI-themed tokens surged up to 35% in the past 24 hours, significantly outperforming the broader crypto market, which remained largely flat.The growth in AI token prices mirrored a rise in Nvidia’s stock, which became the most valuable company globally, highlighting the market’s increasing interest in AI-related technologies.
As a researcher with a background in artificial intelligence and cryptocurrencies, I’m excited to witness the significant surge in AI-themed tokens in the past 24 hours. The sector’s impressive outperformance of the broader crypto market is noteworthy, especially considering Nvidia’s recent stock price growth.The number of AI-related tokens in projects experiencing growth surged by up to 35% within the last 24 hours, making it the top performer among cryptocurrencies with minimal changes in the wider market.
As a researcher, I have analyzed the recent trends in the AI token sector using data from CoinGecko. Notably, Fetch.ai’s FET, SingularityNET’s AGIX, and Ocean Protocol’s OCEAN led the growth in this sector, with impressive gains of their own. Specifically, these tokens added an average of 15% to their value. In comparison, tokens with a capitalization above $100 million saw a minimum growth of 4%. This is a significant improvement over the 0.22% rise experienced by the broader CoinDesk 20 (CD20) index.
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As an analyst, I’ve observed a striking parallel between the robust growth experienced by various tech companies and the surge in Nvidia’s (NVIDIA) stocks over the past few days. This 5% increase since Monday has catapulted Nvidia to the top spot among the most valuable companies globally, surpassing Microsoft. It is important to note that Nvidia doesn’t have any direct ties with crypto companies. However, the escalation in its stock prices tends to resonate positively with AI-related digital tokens.
Artificially Intelligent systems represent the imitation of human cognitive abilities in machines, designed to process information and behave similarly to people. The cryptocurrency sector has been identified as a potential frontrunner for significant growth within the digital asset market since the beginning of 2023. And so far, these expectations have proven correct.
“Edward Wilson, an analyst at Nansen.ai, stated in a Telegram message to CoinDesk on Thursday, ‘The AI sector is currently in high demand in traditional markets and crypto markets.’ It’s important to note that this trend follows Nvidia’s designation as the world’s most valuable company. Consequently, tokens associated with AI technology have experienced significant price increases.”
“The value of tokens like NEAR and RNDR have surged approximately 300% over the past year, contrasting Ethereum‘s growth of slightly over 100% within the same timeframe, indicating robust market demand for this specific sector,” he pointed out.
Some researchers continue to raise questions about the authentic application of intricate AI technology in blockchain initiatives.
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2024-06-20 12:22