AI-based crypto assets have gained significantly despite a market slump, driven by the AI craze in conventional finance and crypto markets.
Tech powerhouse Nvidia, which just became the world's most valuable business, has boosted this rise with its share price at an all-time high.
Since January, Nvidia's stock, worth $3.34 trillion, has almost doubled, overtaking Microsoft and Apple.
Analysts dubbed Nvidia the “new gold or oil in the tech sector” for its supremacy in artificial intelligence processors.
Through these advances, AI-based crypto tokens have outperformed big cryptocurrencies that have had a steep price drop headed by Bitcoin.
CoinGecko reports that AI tokens Fetch.ai (FET), Singularity Net (AGIX), and Ocean Protocol (OCEAN) gained 24%, 23.5%, and 22% in the previous 24 hours.
After a major price fall to $1.10, FET recovered and broke its downtrend. Fetch.ai may have real-world applications, according to blockchain research group House of Chimera, despite being down 58% from its March high of $3.45.
FET's autonomous agents analyze and forecast ideal routes to improve logistics, decreasing costs and delivery times.
FET's AI algorithms evaluating massive datasets may boost prices in the next months as the sector and conventional banking embrace AI. FET has a $3.6 billion market value and trades at $1.44.
Long-Term AI-Based Crypto Token Potential
Like FET, Singularity Net's native token AGIX reached $1.46 in March but is now 58% down at $0.6018.
The protocol's core applications, creating and monetizing AI services via its AI marketplace, promise long-term advantages and investor interest.
Ocean Protocol's native token, OCEAN, has price movements like AGIX and FET. Trading at $0.6094, OCEAN has had a 20% volume rise in 24 hours.
Running AI-powered prediction bots or trading bots on crypto price feeds are examples of the protocol's open-source paradigm for data interchange and monetization.
