Elon Musk tweeted about a hot tech trend that is taking the cryptocurrency market by storm. These altcoins are up over 500% since the start of the year, and Musk’s tweet comes at a time when the rally has cooled.
Elon Musk supports new crypto trends
The cryptocurrency market met AI projects in 2023. cryptocoin.com As Microsoft, we mentioned that Microsoft’s investment in OpenAI and Bill Gates’ statements about artificial intelligence lie behind this request. Now, Twitter and Tesla CEO Elon Musk have also supported this trend. Recently, he shared a meme on artificial intelligence technologies such as ChatGPT on his Twitter account.
Elon Musk says that helping someone who does not continue to evolve with technology cannot be helped. His message came at a time when massive layoffs at tech companies and many argue that ChatGPT and artificial intelligence (AI) are taking over the roles.
What did Elon Musk write about AI technology?
Addressing those who criticize the advancement of technology, Musk tweeted, “While you were partying, I studied ChatGPT. While you were hanging out, I mastered Stable Difusion. I was running machine learning models while you wasted your days trying to show off and training in the gym. Now that the world is on fire and the AGI is at the door, do you have the audacity to come to me for help?” Wrote.
The tweet, posted earlier today, garnered more than 80,000 likes and was retweeted nearly 8,000 times. Moreover, it sparked conversations around futuristic innovations. The message’s impact among the crypto community has brought back AI projects that have been rallying since January.
AI tokens rally more than 20% overnight
Independent of Musk’s tweets, AI-focused projects have been in a bull run for a month, and the momentum continues in February. Amid the largely sideways performance of major cryptocurrencies, AI-related cryptocurrencies including Fetch (FET), SingularityNET (AGIX) and Ocean Protocol (OCEAN) rose in the past day.
FET, the utility token powering Fetch.AI, a decentralized platform that provides the necessary tools and infrastructure to build an AI-based digital economy, rose 25% on the day to $0.54, according to Coinmarketcap. It is trading at $0.5488 with a slight correction at the time of writing.
Ranked #92 by market cap, FET has experienced explosive growth since the start of the year, gaining 106% in the week and more than 250% in the last 30 days, reaching levels not seen since January last year.
SingularityNET (AGIX)
SingularityNET, one of the key AI projects, hit a 17-month high of $0.59 early Tuesday. Running on Ethereum and Cardano, SingularityNET has focused strongly on increasing interoperability between the two networks by building a bridge to tokens last year, and plans to launch a staking portal for Cardano’s native token ADA as early as Q1 2023.
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