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Cryptocurrency market’s overall activity is showcasing the strength of artificial intelligence altcoins, influenced by recent developments in the global AI sector. According to CoinGecko’s data, the AI altcoin index has risen by up to 20% in the last 24 hours, surpassing $26 billion. With the trading volume exceeding $3.5 billion, investors’ interest in AI-related altcoins continues to grow.
Countdown Begins for Nvidia’s GTC Conference
The stage is set for Nvidia’s annual GTC conference today, with Nvidia CEO Jensen Huang scheduled to deliver a two-hour keynote at the SAP Center in San Jose, California. Historically, Nvidia has used this event to unveil groundbreaking products, and this year is expected to be no exception. Industry observers are anticipating potential successors to Nvidia’s Hopper architecture and H100 GPU, as last year’s introduction of these technologies propelled Nvidia to the forefront of AI hardware innovation.
As a strategic move, Nvidia recently announced a partnership with Google aimed at integrating Google’s Gemma AI technology into Nvidia’s product suite, further strengthening Nvidia’s position in the AI market. Speculations about announcements expected at the GTC conference have led to a notable surge in the AI altcoins market, with many coins in this category experiencing price increases of up to 20% within a 24-hour period.
AI Altcoins on the Rise
Among AI altcoins, Render (RNDR) leads with an impressive 17.4% increase, followed by Bittensor (TAO) with a 7.5% rise. Fetch.ai (FET) has seen a significant 14% increase, reflecting the bullish expectations surrounding AI-related altcoins ahead of the conference. Notably, Rosnet, Precipitate.ai, and LaLM AI have been the top gainers in the AI altcoin sector over the last 24 hours, each with increases exceeding 50%.
The current trend is part of the narrative that grows stronger each day around artificial intelligence, driving significant gains for AI-based altcoins. FET has made an impressive 528% increase in just 28 days, while Worldcoin (WLD) has recorded a notable 456% rise in the same period.
As the upcoming Nvidia conference is expected to add more momentum to this branch of altcoins, these AI altcoins are gearing up to capitalize on the growing interest and optimism surrounding AI technology and its applications across various industries.
