With peaks of $45,925 in today’s trade, Bitcoin, the largest cryptocurrency by market capitalization, is off to a great start in 2024. The value of the digital currency has risen by about 7% in the past day.
Not all cryptocurrency assets, meanwhile, are doing well in the new year, not even Bitcoin. A number of cryptocurrency tokens associated with artificial intelligence (AI) are likewise outperforming the overall cryptocurrency market in a bull market. Render (RNDR) and The Graph (GRT) are two prominent instances among them.
The cryptocurrency token that drives the Render Network, Render (RNDR), rose by almost 9% over the course of the last day and peaked at $5.08 during today’s trading session. The coin is ranked 50th in terms of cryptocurrency market capitalization with a market worth of $1.83 billion.
The Graph Network, a decentralised system that allows users to search and scan data across several blockchains, including Ethereum, Solana, and Polkadot, is powered by the Graph (GRT) token, which has increased by 12% in the previous day and peaked at $0.225 on January 2, 2024.
At the time of writing, the prices of the GRT and RNDR tokens were $0.213 and $4.895, respectively.
Artificial intelligence (AI) emerged as the most popular crypto story in 2023, representing for 11.3% of interest in crypto narratives over the previous year, according to a CoinGecko analysis conducted at the end of the year.
In the tech business, interest in AI and associated activities increased after ChatGPT’s November 2022 launch. This zeal has permeated the cryptocurrency space, bringing AI-related coins to light.
Akash Network (AKT) saw the biggest increase among AI tokens, rising to an all-time high of 13 times its price on January 1, 2023. Next was Render (RNDR), the biggest AI token by market capitalization, which at its 2023 annual peak saw a price increase of up to 12 times.
