The cryptocurrency world is off to a roaring start in 2024, with Bitcoin breaching the $42,000 mark and registering a remarkable 7% gain in the last 24 hours. However, there’s more to this crypto narrative than just Bitcoin’s resurgence.
AI Tokens Rise to Prominence:
While Bitcoin takes the spotlight, certain crypto tokens, closely tied to Artificial Intelligence (AI), are outperforming the broader market. Notably, RNDR (Render) and GRT (The Graph) have emerged as standout examples.
RNDR’s Impressive Gains:
RNDR, the crypto token fueling the Render Network, has witnessed a remarkable 9% surge within the past 24 hours, reaching a peak of $5.08 during today’s trading session. This achievement places RNDR at a market valuation of $1.83 billion, securing its position as the 50th largest cryptocurrency by market capitalization.
The Graph’s Noteworthy Ascent:
On the other hand, the GRT (The Graph) token, powering The Graph Network, a decentralized protocol facilitating data queries and indexing across multiple blockchains (including Ethereum, Solana, and Polkadot), has seen a 12% increase in the last 24 hours, hitting heights of $0.225 on January 2, 2024.
Potential for Profit:
As of now, GRT and RNDR tokens are trading at $0.213 and $4.895, respectively. But the question is, do they have the potential for further growth?
AI Takes the Crypto Stage:
According to an end-of-year study, Artificial Intelligence (AI) emerged as the dominant crypto narrative in 2023, accounting for 11.3% of crypto narrative interest during the year.
Top AI Performers:
In the wake of ChatGPT’s debut in November 2022, AI-related activities gained momentum in the tech industry, and this enthusiasm spilled over into the cryptocurrency world. Notably, AI tokens like Akash Network (AKT) and Render (RNDR) witnessed substantial growth, with RNDR’s price surging by up to 12 times its 2023 yearly high.
Embrace the AI Crypto Wave: As we navigate 2024, it’s clear that AI-related coins are on the rise. Stay tuned for what promises to be an exciting year in the crypto space!
