Expectations that a crypto project will be mentioned in an Nvidia (NVDA) conference later this month are driving traders to bid on artificial intelligence (AI)-linked tokens, propelling CoinGecko 's category for the coins up 25% in 24 hours.
Tokens of Fetch.AI (FET), Render Network (RNDR), Sleepless AI (AI) and SingularityNET (AGIX) climbed as much as 40%. These projects claim to utilize AI in various ways, such as providing a virtual companion and being a marketplace for graphic processing cards.
Behind the surge are reports that crypto AI project developers are attending the chipmaker's conference or taking part in panels, according to Lookonchain. The event will be held from March 17-21. The advance compares with bitcoin’s 0.3% increase and a 0.4% gain in the CoinDesk 20, a broad-based liquid index of major tokens.