The cryptocurrency market witnessed an unexpected rally this week, led by cryptocurrencies focusing on artificial intelligence (AI).
Artificial Intelligence (AI) Projects Like OCEAN and RNDR Increased
This rise was led by the AI industry's leading players: Injective (INJ) up 56%, Render (RNDR) up 30%, Fetch AI (FET) up 64.4%, and Ocean Protocol's OCEAN up a staggering 32.1%. showed.
This increase represents the second major rise in the AI crypto world this year, with the first occurring in January 2023.
The driving force behind this rise is no secret. Just a few days ago, Google made headlines with a significant $2 billion investment in Anthropic, an artificial intelligence startup.
This move reflected Amazon's significant $4 billion investment in the same company.
Earlier this year, Microsoft set the stage by investing $10 billion in OpenAI, maker of ChatGPT, sparking the first surge in the AI crypto industry.
According to CoinMarketCap, the total market cap of AI and big data-related tokens currently stands at an impressive $6.27 billion.
Speculations continue as to whether this figure represents the peak or whether it is a potential that has not yet been realized.
*This is not investment advice.