While many attributed the recent surge in AI tokens to Nvidia’s massive earning reports, data indicates AI tokens have been on a positive trajectory over the past month.
Many artificial intelligence (AI)-based crypto tokens and traditional stocks recorded positive growth on Feb. 21 despite a broader market correction. Popular AI-based crypto tokens posted double-digit gains after the market cap of the tokens more than doubled in a month.
Render (RNDR), an Ethereum-based network that facilitates decentralized graphics processing unit rendering, has surged over 17% in the past 24 hours. Similarly, The Graph (GRT), an indexing protocol for efficiently querying blockchain data, has increased by 18% in the past 24 hours. Fetch.ai (FET) is up 11%, while SingularityNet (AGIX) recorded a 33% surge.
The total market cap of AI-based tokens swelled by over 9% to $17.8 billion since Nvidia’s quarterly earnings report and has risen from $7 billion earlier in February.
