Crypto AI Tokens on the Rise as Bitcoin Breaks $45,000
Bitcoin Hits New Highs in 2024
Bitcoin, the leading cryptocurrency by market capitalization, has started the year on a positive note, reaching highs of $45,925 in today’s trading. Over the past 24 hours, the digital currency has surged by nearly 7%.
AI-Related Crypto Assets Outperforming
It’s not just Bitcoin that’s performing well in the new year. Some artificial intelligence (AI) related crypto tokens are also on a bullish run, outpacing the broader crypto market. Two notable examples are Render (RNDR) and The Graph (GRT).
Render Surges by 9%
Render (RNDR), the crypto token that powers the Render Network, has seen a 9% increase in the previous 24 hours, reaching a high of $5.08 in today’s trading session. With a market valuation of $1.83 billion, it currently ranks 50th in terms of cryptocurrency market capitalization.
The Graph Network’s GRT Token Jumps 12%
The Graph (GRT) token, which powers The Graph Network, a decentralized protocol enabling users to query and index data from various blockchains, has surged by 12% in the last 24 hours, reaching highs of $0.225 on Jan. 2, 2024. At the time of writing, GRT and RNDR tokens were trading at $0.213 and $4.895, respectively.
AI Emerges as Popular Crypto Narrative
Artificial intelligence (AI) emerged as the most popular crypto narrative in 2023, accounting for 11.3% of crypto narrative interest in the past year. The enthusiasm for AI-related coins has been fueled by the tech industry’s increasing interest and related activities, which has spilled over into the cryptocurrency world.
AI Tokens Experience Significant Growth
Among AI tokens, Akash Network (AKT) saw the most significant rise, reaching an all-time high of 13 times its Jan. 1, 2023, price. Following closely is Render (RNDR), the largest AI token, with its price increasing by up to 12 times at its 2023 yearly high.
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