Over the last 24 hours, artificial intelligence (AI)-related coins have surged up to 35% amid a stagnant overall crypto market. This rise is in parallel with the increase in Nvidia’s stock prices and its capture of the title of the world’s most valuable company. These developments clearly reveal investors’ interest in artificial intelligence technology and their trust in crypto projects in this field. Here are the artificial intelligence coins and their rise…
Artificial intelligence coins rose
According to CoinGecko data, the AI token sector has gained an average of 15% in value in the last 24 hours. Pioneering tokens such as Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) led this rise, with gains of 35%, 33%, and 26%, respectively. Other tokens such as NEAR and RNDR also got their share of this enthusiasm, gaining nearly 300% in the last year. One of the most important factors in this increase is Nvidia’s recent performance. Nvidia shares have risen 5% since Monday, making the company the most valuable company in the world, surpassing Microsoft.
While Nvidia is not directly a crypto company, its leadership in artificial intelligence and strong financial results are leading to significant interest among AI token investors. Nansen analyst Edward Wilson adds that investors have been predicting since early 2023 that AI tokens would be the best-performing assets in the next crypto market cycle, and these predictions have proven true so far. Nansen.ai analyst Edward Wilson explains the reason behind this situation as follows:
Artificial intelligence is a very popular investment area in both traditional markets and crypto. Nvidia becoming the world’s most valuable company is an important development that triggered the rise of AI tokens. Tokens such as NEAR and RNDR are up nearly 300% last year, while ETH is up just over 100% in the same period, indicating high market interest in this sector.
Criticisms of AI technology
But despite this enthusiasm, cryptokoin.com As we reported, some researchers are expressing concerns about the concrete use of complex AI technology in Blockchain projects. These concerns suggest that investor excitement risks outpacing actual implementation. As a result, the recent rise in AI tokens can be explained by both Nvidia’s success and investors’ growing faith in AI technology. This paints a very promising picture for the future of AI-based crypto projects. In the long term, the success of these tokens will be closely related to the concrete applications and benefits they provide.
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