According to data from CoinGecko, the AI-related token industry has experienced a significant rise, with a 15% increase in the last 24 hours.
As Nvidia Becomes the World's Most Valuable Company, Artificial Intelligence Tokens Increase Led by FET and AGIX
This increase is largely due to significant gains in tokens from projects using artificial intelligence (AI) technology.
Fetch.ai's FET, SingularityNET's AGIX, and Ocean Protocol's OCEAN are leading the growth in the AI token sector with gains of up to 35%.
The rise in AI tokens reflects the recent performance of Nvidia (NVIDIA) shares, which are up 5% since Monday.
This growth made Nvidia the most valuable company in the world, surpassing Microsoft. While Nvidia is not directly affiliated with any crypto company, its stock performance tends to influence AI-related tokens.
Artificial intelligence, which refers to the simulation of human intelligence in machines programmed to think and act like humans, has been a hot sector in both traditional markets and the crypto space.
Investors have predicted since early 2023 that the AI sector would lead gains in the next crypto market cycle, and these predictions have proven accurate so far.
“AI as a sector is hot in both traditional markets and crypto, so it should come as no surprise that AI tokens are on the rise after Nvidia became the world's most valuable company,” Edward Wilson, an analyst at Nansen.ai, said in a statement.
Wilson emphasized that tokens such as NEAR and RNDR increased by approximately 300% last year, while ETH increased by just over 100% in the same period, indicating high market interest in the artificial intelligence sector.
But some researchers have expressed concerns about the actual use of complex AI technology in blockchain projects, suggesting that excitement around it may be outpacing practical application.
Despite these concerns, the current market enthusiasm for AI-related tokens shows no signs of slowing down.
*This is not investment advice.