Meta’s (previously Facebook) positive quarterly earnings report not only had an impact on Meta’s stock but also significantly affected AI-related cryptocurrencies. Following this positive result, Meta’s stock price experienced over a 14% upside momentum, while the market cap of AI-related cryptocurrencies also increased by more than 17%.

Mark Zuckerberg’s optimistic outlook on AI and Metaverse

After a positive earnings report, Meta’s CEO and founder, Mark Zuckerberg, stated, “We had a good quarter as our community and business continue to grow. We have made a lot of progress on our vision for advancing AI and the metaverse.”

Additionally, the positive optimism from Meta’s CEO indicates that Meta’s ongoing developments in artificial intelligence and the metaverse showcase their commitment to these futuristic technologies. This statement and positive outlook on AI have caused an overall upswing in AI-related cryptocurrencies.

On the other hand, top AI tokens such as Internet Computer (ICP), Injective (INJ), NEAR Protocol (NEAR), Render (RNDR), and many others have experienced significant price surges. Despite these surges in AI token prices, the overall cryptocurrency market is also up and experiencing a bullish trend.

Injective (INJ) and other tokens show positive momentum

The top AI token gainer is Internet Computer (ICP), as it is currently trading near $12.6, and in the last 24 hours, it experienced over 8% upside momentum. Looking at ICP over a longer period, in the last 7 days, it gained over 10% in price momentum, while in the last 30 days, it experienced over 7% downside momentum. However, ICP boasts the highest market cap at $5.8 billion, surpassing any other AI token.

Another token that gained momentum is Injective (INJ). Currently, INJ is trading near $34.6, and in the last 24 hours, it experienced over 3% upside momentum. Examining INJ’s performance over a more extended period, in the last 7 days, it saw over 5% upside momentum, while in the last 30 days, it experienced over 14% downside momentum.

Other AI cryptocurrencies that gained momentum include NEAR Protocol (NEAR), Render (RNDR), and The Graph (GRT). According to data from CoinMarketCap, these tokens, including NEAR, RNDR, and GRT, experienced increases of over 4%, 3.5%, and 2.5%, respectively, in the last 24 hours. With this bullish momentum in AI-related tokens, the market cap of AI tokens has also increased by over 16%, standing at nearly $25.6 billion.

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