The cryptocurrency market has, unsurprisingly, experienced a remarkable rise, with AI-driven cryptocurrencies at the forefront of this sudden rise. Here are Google’s artificial intelligence investment and the rising artificial intelligence coins.
Artificial intelligence coins rose with Google investment
Over the past week, the leading AI-related tokens have previously surged by Injective (INJ) by 56%, Render (RNDR) by 30%, Fetch AI (FET) by 64.4%, and Ocean Protocol’s OCEAN by a remarkable 32.1%. showed unprecedented growth. Additionally, coins such as GRT, ROSE, AGIX, AKT remained in green. This surge marks the second major boom in the AI crypto sector this year, following an earlier surge in January 2023. The driving force behind this extraordinary momentum is no secret, as tech giants such as Google, Amazon and Microsoft are making significant investments in AI initiatives. Other artificial intelligence coins that rose the most are as follows:
A few days ago, Google made headlines by making a significant investment of $2 billion in Anthropic, an artificial intelligence startup. This move closely follows Amazon’s significant $4 billion investment in the same company. Earlier in the year, Microsoft set the stage by injecting $10 billion into OpenAI, the organization behind ChatGPT, triggering the first boom in the AI coins segment.
“Perfect storm” for AI coins
The pattern is clear: when tech giants invest in AI startups, it creates shockwaves in the crypto space. This trend, combined with the recent crypto market rally, including Bitcoin’s rapid climb from $27,000 to $36,000, has created a perfect storm for AI-driven tokens, pushing them to unprecedented heights. Currently, the total market cap of AI and big data-related tokens stands at an impressive $6.27 billion, according to CoinMarketCap. There is speculation as to whether this figure represents the peak or whether there is still untapped potential waiting to be realised.
The recent increase in artificial intelligence-related cryptocurrencies is profoundly reshaping the cryptocurrency world. The influx of capital from tech giants such as Google, Amazon, and Microsoft has not only increased the value of these AI tokens but also brought significant interest to the broader cryptocurrency market. The growth of this sector is undeniable, with the market value of artificial intelligence and big data-related tokens reaching $6.27 billion. Investors are watching with curiosity to see if these tokens continue to rise or have reached their peak. Regardless, it is clear that the impact of artificial intelligence in both the technology and financial sectors is far from abating.
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