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The upward trend in the cryptocurrency market continues. Although Bitcoin touched its $69,000 ATH and started to decline, the altcoin market remains active.
At this point, especially some mem tokens and artificial intelligence altcoins stand out with their rapid rise.
The fact that Nvidia, the world's number one artificial intelligence chip manufacturer, will hold a conference on March 18-21 was effective in the rise of artificial intelligence-themed altcoins.
While this conference of Nvidia increased the interest in the artificial intelligence sector, Nvidia's moves in the field of artificial intelligence also had a positive impact on the cryptocurrency market.
At this point, with Nvidia inviting the Fetch.ai team to the conference, the upward momentum in FET and other artificial intelligence-themed altcoins accelerated.
FET and RNDR Prices Skyrocketed!
While Nvidia's conference attracted great attention, the company is expected to introduce innovations in artificial intelligence chips at the conference that will start on March 18.
While this expectation also activated the cryptocurrency market, there was a great “hype” in artificial intelligence-themed altcoin projects and tremendous increases were recorded.
According to CoinMarketCap data, Fetch.ai (FET) increased by 36% in the last 24 hours, reaching $ 2.75, while Render (RNDR) price gained more than 30% in the last 24 hours, reaching $ 9.73.
Making FET and RNDR investors happy, wallet number 0x488 affiliated with the Fetch_ai team deposited 5 million FET (worth $11.2 million) to Binance about 12 hours ago. This wallet has been inactive for 6 months and still holds 1.12 billion FETs (worth $3 billion).
The $FET price soared 52% (24H) as impacted by #NVIDIA #GTC24!
What are the on-chain highlights?
1. Whale 0xa7b further withdrew 1.72M $FET ($4.15M) from CEX in the past 5hrs.
The whale withdrew 13.4M $FET from CEX at ~$1.86 ($24.9M) in the past 5 days, now making $12M (+49%).… pic.twitter.com/Xbfpl0ZABK
— Spot On Chain (@spotonchain) March 7, 2024
*This is not investment advice.