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Bitcoin, the biggest cryptocurrency by market capitalization, has begun 2024 on a high note, reaching highs of $45,925 in today's trading. Within the last 24 hours, the digital currency has increased by nearly 7%.
However, Bitcoin is not the only crypto asset that is performing well in the new year. Some of the crypto tokens related to artificial intelligence (AI) are also on a bullish run, outperforming the broader crypto market. Among them, Render (RNDR) and The Graph (GRT) are two notable examples.
Render (RNDR), the crypto token that powers the Render Network, has increased by about 9% in the previous 24 hours, reaching a high of $5.08 in today's trading session. The token has a market valuation of $1.83 billion, ranking it 50th in terms of cryptocurrency market capitalization.
The Graph (GRT) token, which powers The Graph Network, a decentralized protocol that enables users to query and index data from various blockchains — such as Ethereum, Solana and Polkadot — has risen 12% in the last 24 hours, reaching highs of $0.225 on Jan. 2, 2024.
GRT and RNDR tokens were trading at $0.213 and $4.895, respectively, at the time of writing.
According to an end-of-year CoinGecko study, artificial intelligence (AI) emerged as the most popular crypto narrative in 2023, accounting for 11.3% of crypto narrative interest in the past year.
Following the debut of ChatGPT in November 2022, AI interest and related activities gained traction in the tech industry. This enthusiasm has spilled over into the cryptocurrency world, drawing attention to AI-related coins.
Among AI tokens, Akash Network (AKT) rose the most, reaching an all-time high of 13 times its Jan. 1, 2023, price. Render (RNDR), the largest AI token by market cap, followed next, with its price increasing by up to 12 times at its 2023 yearly high.