After the AI chip giant Nvidia surpassed Microsoft to become the world’s most valuable company, AI-related tokens in the cryptocurrency market also surged. Fetch.ai (FET) and SingularityNET (AGIX) both experienced a nearly 25% increase in the span of 24 hours. While major cryptocurrencies like Bitcoin and Ethereum were consolidating, AI tokens performed well.
Source: CoinGecko
Following its stock split last week, Nvidia’s stock price continued to rise and officially surpassed Microsoft in market value on June 18, claiming the top spot as the world’s most valuable company.
Currently, funds in the market are pouring into AI-related stocks. Amidst the consolidation of major cryptocurrencies such as Bitcoin and Ethereum, AI coins have shown relatively impressive performance.
Advertisement – Continue scrolling for more content
In March, three companies focused on the development of blockchain and AI, including SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN), decided to merge their cryptocurrencies to jointly develop a decentralized AI platform. The fully diluted valuation of this token is estimated to be $7.5 billion. The three platforms will continue to operate as independent entities but collaborate under the guidance of the “Super Intelligence Collective,” led by Ben Goertzel, the founder of SingularityNET.
SingularityNET was established as early as 2017 and is led by Dr. Ben Goertzel, one of the most important experts in the AGI field.
(
What is SingularityNET (AGIX), an AI concept cryptocurrency, which continues to grow amidst the AI trend?
)
The AI veteran project, Render Network (RNDR), also experienced an astonishing increase, with a one-year growth rate of 272%. In comparison, AGIX rose by 178%, outperforming major cryptocurrencies Bitcoin (up 130%) and Ethereum (up 99%) during the same period.
(
AI veteran project Render Network (RNDR) takes advantage of the trend and upgrades to the Solana network.
)
AGIX
AI
Fetch.ai (FET)
RNDR
Nvidia
Further reading:
Will SingularityNET, Fetch.ai, and Ocean Merge to Devote Themselves to AI Development?
Sora Drives the Resurgence of the AI Craze, WLD Hits a New Historical High.