Significant advances in artificial intelligence (AI) technology have increased interest in artificial intelligence-driven cryptocurrencies. CoinMarketCap data shows that trading volume for AI-themed altcoins has skyrocketed by around 80% in the last day. Blockchain analysis company Santiment stated that this increased interest could lead to significant price increases in artificial intelligence tokens.
AI-driven altcoins: Why is interest increasing?
Blockchain analysis firm Santiment reported that crypto projects focused on artificial intelligence (AI) may see an increase in token prices due to increased social interest. CoinMarketCap data confirms this record level of interest. Trading volumes of crypto assets in the AI sector increased by nearly 80% in the past day, despite the sector’s average decline of 7%. The increase in community interest in AI tokens coincides with notable developments in the industry. In particular, it is noteworthy that Nvidia’s market value exceeded $ 3 trillion, briefly becoming the second most valuable public company in the world.
During this period, Bloomberg ETF analyst Eric Balchunas noted that Nvidia shares reached record trading levels, often exceeding the combined volume of the 20 largest U.S. stocks. Although Nvidia’s stock price has fallen since then, the company remains a symbol of investor enthusiasm for artificial intelligence. Venture capitalist Nic Carter recently called the company “the most important company in the world right now.”
Artificial intelligence entrepreneur CoreWeave Inc. has made an ambitious attempt to acquire Bitcoin mining company Core Scientific after the two companies announced a partnership that is projected to generate approximately $3.5 billion in revenue. Under this agreement, Core Scientific will provide 200 megawatts of capacity to power CoreWeave’s graphics processing units.
Cryptocurrencies such as AGIX and OCEAN attract attention
Additionally, decentralized AI projects Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) plan to merge to form the AI Superintelligence Alliance (ASI). This merger aims to accelerate the development of decentralized AI infrastructure and is expected to be completed this month. The resulting entity from the merger will create a token with an estimated market cap of approximately $6 billion, further increasing community interest.
While the highlighted events are separate and independent, they explain why AI tokens generated high social volume this week. Historically, this level of interest often precedes price increases, and crypto community experts predict that AI-focused project tokens could benefit from it. This news is for informational purposes only and should not be considered investment advice. Cryptocurrencies are highly volatile assets and detailed research is recommended before investing.
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