Bitcoin, the leading cryptocurrency by market capitalization, has initiated 2024 on a positive note, achieving highs of $45,925 in today’s trading. In the past 24 hours, Bitcoin has witnessed an almost 7% increase.
Yet, Bitcoin isn’t the sole cryptocurrency performing well in the new year. Certain crypto tokens associated with artificial intelligence (AI) are also experiencing a bullish trend, outpacing the broader crypto market. Notably, Render (RNDR) and The Graph (GRT) are two prominent examples.
Render (RNDR), the crypto token fueling the Render Network, has surged approximately 9% in the previous 24 hours, reaching a peak of $5.08 in today’s trading session. The token boasts a market valuation of $1.83 billion, securing the 50th position in cryptocurrency market capitalization rankings.
The Graph (GRT) token, empowering The Graph Network—an decentralized protocol facilitating users to query and index data from various blockchains like Ethereum, Solana, and Polkadot—has witnessed a 12% increase in the last 24 hours, reaching highs of $0.225 on January 2, 2024.
As of the current writing, GRT and RNDR tokens are trading at $0.213 and $4.895, respectively.
An end-of-year study revealed that artificial intelligence (AI) emerged as the most popular crypto narrative in 2023, constituting 11.3% of crypto narrative interest over the year. The introduction of ChatGPT in November 2022 propelled AI interest in the tech industry, spilling over into the cryptocurrency domain and garnering attention for AI-related coins.
Among AI tokens, Akash Network (AKT) experienced the highest surge, reaching an all-time high at 13 times its January 1, 2023, price. Render (RNDR), the largest AI token by market capitalization, followed suit, witnessing its price increase up to 12 times at its highest point in 2023.