According to the data from CoinMarketCap AI-based cryptocurrency tokens and coins have surged significantly in the past 24 hours.
Near Protocol (NEAR) price grew over 10% intraday reaching $4.11 similarly Bittensor (TAO) reached $512.99 adding 19.21% to its price, Internet Computer (ICP) added 6.53% and Artificial Super Intelligence Alliance (FET) reached $1.37 surging 17.52%.
Source: CoinMarketCap
In the vast market products and sub-products associated with Artificial Intelligence technology have outperformed in the past 48 hours, the spike is solely backed by the recent success of Nvidia over Apple.
Nvidia has most recently surpassed Apple in terms of market capitalization and has become the most valuable company in the world.
Source: TradingView
At the time of writing the market capitalization of the company was $3.431 trillion, compared to the previous year its market capitalization has surged over 180% achieving new milestones.
This isn’t the 1st time Nvidia has challenged Apple for the top spot, in June, the chipmaker surpassed Apple’s market capitalization for a day, offering a preview of what would turn into a more sustained rise.
The credit for this significant growth can be given to the dominance in the AI infrastructure cycle. Since the beginning of 2023, the shares of the company have gone over 850%.
It specializes in designing and selling GPUs for gaming, cryptocurrency mining, and professional applications. The company also offers chip systems for use in vehicles, robotics, and other industries. Its Compute and Networking segment, which includes artificial intelligence (AI), is the largest revenue driver for Nvidia.
Artificial intelligence (AI) is making a significant impact across industries, including blockchain. As AI tokens gain traction, much of their potential growth is tied to the future of Nvidia and how quickly its technologies can accelerate AI adoption.
When writing, Nvidia stock was trading at $131.91 with an intraday surge of 2.84 percent and it has registered a growth of 184.12% in the YTD frame.
AI Tokens Might Reach New Milestone by 2025
In the last 24 hours, the broader cryptocurrency market has seen a rise, with Bitcoin hitting a new all-time high. As of the latest update, BTC was trading at $73,907, marking a 7.33% increase in the past 24 hours.
Bitcoin, one of the leading cryptocurrencies, has achieved a new milestone, reaching an all-time high of $75,361.09 on November 6, 2024.
According to data from CoinMarketCap, 337 AI-based crypto coins/tokens collectively have $33.2 billion in market capitalization (surged 11.56% intraday) and the entire trading volume of these tokens is $2.99 billion which grew over 108% in the past 24 hours.
In the upcoming years, there is an expectation that AI-based tokens are expected to grow at an appreciable pace and their collective market is estimated to reach $100 billion, and there are some new tokens that could debut in the market in the coming weeks.
The boom in AI technology has been transforming almost every industry and its integration with blockchain technology has proved to be a deadly combination. Technology experts argue that AI and blockchain will collectively transform the cryptocurrency market and are expected to open new paths in the near future.
