Here’s Why AI Coins NEAR, RNDR, & Others Are Rising Today

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As a researcher with a background in artificial intelligence and blockchain technology, I’ve been closely monitoring the developments in this space for quite some time now. The recent surge in prices of AI coins like Near Protocol (NEAR), Render Network (RNDR), Fetch.ai (FET), SingularityNET (AGIX), and others on June 20, despite the broader trend, caught my attention.

On an extraordinary note, AI tokens have stolen the limelight on June 20th, bucking the general market trend. Notably, Near Protocol (NEAR), Render Network (RNDR), Fetch.ai (FET), SingularityNET (AGIX), and other AI tokens have experienced significant price surges in the last 24 hours. This upward trend comes alongside numerous advancements within the AI sector. These advancements include groundbreaking work by industry leaders such as xAI, Nvidia, and Pantera Capital.

As a crypto investor with an interest in AI technologies, I’ve noticed some noteworthy advancements recently that have potentially fueled the surge in prices for AI-focused coins. Let me walk you through some of these developments from my perspective.

Nvidia, xAI, & Pantera Mark Monumental Strides In AI

Important to mention, the value of NEAR increased by approximately 5% today, RNDR went up by 2%, while AGIX and FET experienced substantial growth of around 24-28%. Additionally, tokens such as GRT, TAO, INJ, and THETA recorded gains ranging from 3-6%. The price surge of AI coins aligns with the noteworthy advancements in artificial intelligence by xAI (Elon Musk’s AI startup), Nvidia (the leading GPU and AI chip manufacturer), and Pantera Capital (a VC and hedge fund focusing on blockchain and crypto technology).

Pantera Capital Invests $200M in AI

In the midst of the current surge in artificial intelligence (AI) technology, the foremost hedge fund specializing in cryptocurrencies revealed plans to invest an impressive $200 million in this field. This move is driven by the belief that AI and cryptocurrencies could intersect significantly in the near future, bringing about potential growth and opportunities.

Musk’s xAI Forges Ahead

During this period, xAI initiated several advancements in artificial intelligence. specifically, xAI’s generative AI model, Grok, is utilizing Midjourney AI for generating images. Furthermore, Dell Technologies CEO Michael Dell disclosed that his company is collaborating with Nvidia to construct an AI factory, which serves as the powerhouse for xAI’s Grok.

In harmony with the worldwide push for artificial intelligence, these advancements have added to the sense of excitement and hope within the industry.

Nvidia Market Value Tops All Others

As a crypto investor, I’m always keeping an eye on the latest developments in the tech world. And recently, some exciting news came out: Nvidia has now taken the lead as the most valued company with a market cap of an impressive $3.33 trillion. This surpasses Microsoft, putting Nvidia and its CEO Jensen Huang in a league of their own. I can only imagine the impact this will have on the tech industry and the potential opportunities it brings for investors like me.

As a crypto investor, I’m keeping a close eye on Nvidia’s (NVDA) share price because it often reflects trends in the AI coins sector. In the pre-market hours, I noticed that NVDA’s stock price had settled at $135.58, representing a 3.51% increase.

The combined advancements in artificial intelligence (AI) technology have fueled its increasing use and expansion, resulting in a surge in demand and subsequent price increase for coins linked to this innovative field.

NEAR, RNDR, AGIX, & Others Rally

Based on information from CoinMarketCap, there was a significant 5.28% rise in the total value of tokens related to Artificial Intelligence and Big Data during the last 24 hours.

As a crypto investor, I’ve witnessed some exciting price movements today. NEAR managed to climb by 5.01%, reaching a new trading price of $5.31.

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2024-06-20 10:08