Artificial intelligence (AI) projects in the cryptocurrency space are currently experiencing a surge in social interest, according to blockchain analytics firm Santiment. This increased interest is likely to result in a rise in token prices for these projects. CoinMarketCap data also supports this trend, showing that trading volumes for digital assets in the AI sector have increased by 80% in just one day, despite an overall decline of 7% in the sector.
The spike in community interest in AI tokens is in line with significant advancements in the AI industry. For example, Nvidia recently briefly became the world’s second most valuable publicly traded company, with a market value exceeding $3 trillion. This surge in value led to record trading levels for Nvidia’s shares, surpassing the combined volume of the top 20 US shares. Venture capitalist Nic Carter even described Nvidia as “the most important company in the world today” due to its impressive growth numbers.
Another noteworthy development in the AI sector is the attempted takeover of Bitcoin miner Core Scientific by AI startup CoreWeave Inc. This move followed a partnership announcement between the two companies with projections of generating $3.5 billion in revenue. This partnership involves Core Scientific providing power capacity to CoreWeave’s graphics processing units. Furthermore, decentralized AI projects Fetch.ai, Ocean Protocol, and SingularityNET are planning to merge and create the Artificial Superintelligence Alliance (ASI) to accelerate the development of decentralized AI infrastructure.
Despite being separate events, these developments have contributed to the increased social volume surrounding AI tokens. Historically, such heightened interest has often preceded price gains, leading experts in the crypto community to predict that AI-focused project tokens could experience positive price movements. The planned merger of the three decentralized AI projects is expected to create a new token with an estimated market capitalization of around $6 billion, further fuelling community interest in AI tokens.
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