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Fetch.ai rallies as AI-related tokens mirror Nvidia sentiment

source-logo  coinjournal.net 19 June 2024 20:49, UTC
  • Fetch.ai rose more than 23% to lead AI tokens higher after recent Nvidia news and performance.
  • Other tokens, including SingularityNET and Ocean Protocol also surged more than 20%

Fetch.ai (FET) has jumped more than 23% in the past 24 hours as leading AI-related tokens continue to bask in the limelight that Nvidia has illuminated in recent weeks.

This week saw Nvidia overtake Microsoft as the world’s most valuable company, and the exuberance around the leading AI stock has cascaded to AI tokens.

Fetch.ai leads this pack, with major gainers in the past 24 hours also including SingularityNET (AGIX) and Ocean Protocol (OCEAN). Both tokens, which together with Fetch.ai are set to merge into a single token dubbed ASI, are up more than 20% in 24 hours.

Other AI tokens soar

Akash Network (AKT), Bittensor (TAO) and The Graph (GRT) have also climbed double digits – AKT is up 21%, TAO 11% and GRT 11%.

Render (RNDR), NEAR Protocol (NEAR) and Internet Computer (ICP) have recorded slightly lower gains in this period, but are still significantly higher compared to most other altcoins across the crypto market.

Artificial Superintelligence Alliance tokens

FET, AGIX and OCEAN’s price gains come after these tokens dumped in the wake of an announcement that the Artificial Superintelligence Alliance (ASI) merger would be delayed – pushed from June 13 to July 15.

But as NVIDIA soared to an all-time high to see Nvidia dethrone Microsoft as the most valuable company, these tokens have exploded in tandem.

Fetch.ai, SingularityNET and Ocean Protocol say the merger will help accelerate industry investment into artificial general intelligence (AGI). In this case, the projects see a further commercialization of AI technologies and allowing for broader access.