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AI altcoins display upside momentum on Nvidia’s GTC conference

source-logo  invezz.com 18 March 2024 07:30, UTC

Artificial Intelligence digital coins showcase increasing strength, with ongoing developments in the AI industry catalyzing notable price actions. Proponents believe the upcoming Nvidia conference will propel AI tokens this week.

LOOK: #NVIDIA will launch a GPU Technology Conference on March 18-21 🔥

This event will focused on AI, and will probably include various announcements 👀

Keep an eye on AI Cryptos!$FET $RNDR $WLD $GRT $AGIX $TAO $OCEAN $TAO $AITECH $NMR $AKT $ARKM $THETA pic.twitter.com/r9m0Wix6gm

— CryptoBusy (@CryptoBusy) March 10, 2024

Coinmarketcap data shows the market cap of AI cryptos increased by 15% within the past day, with associated digital coins recording substantial price upswings.

Also, the daily trading volume jumped 45% in the last 24 hours, reflecting growing investor interest in artificial intelligence coins.

Nvidia’s GTC conference propels AI coins

The Nvidia conference in California will dominate market trends on this week. Generally, the company introduces revolutionary products during this event.

Industry experts anticipate updates to Nvidia’s H100 GPU and Hopper architecture – technologies that propelled the firm’s AI hardware revolution in 2023.

Recently, Nvidia collaborated with Google to integrate the latter’s Gemma AI, cementing Nvidia’s status within the AI industry.

AI cryptos on an upward stance

Artificial intelligence tokens have attracted attention lately. For instance, Fetch.ai whales remained confident about upcoming uptrends as they massively accumulated FET tokens.

Meanwhile, expectations about the upcoming Nvidia announcements have triggered upswings in AI tokens, with most soaring up to 20% over the past day.

Render leads the upside with a 19% uptick on its daily price chart. Theta Network, Near Protocol, and Fetch.ai also recorded substantial upticks.

However, Cere (CERE) and PALM AI dominated the trends with over 50% gains, confirming the increased optimism surrounding AI cryptocurrencies ahead of the awaited conference.

The ongoing trend represents the strengthening tale around AI-based alts. Fetch.ai and Worldcoin surged 528% and 456% (respectively) within the past 28 days.

With analysts expecting added momentum for AI tokens amid the Nvidia conference, AI tokens could capitalize on the magnified optimism and interest in AI technology in different sectors.

Some of the top AI-base altcoins to watch include Worldcoin (WLD), Fetch.ai (FET), Render (RNDR), Sleepless AI (AI), and Bittensor (TAO).

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