Between March 6 and March 7, 2024, Project AI tokens rose by an average of 25%. This rapid growth was likely due to the hype surrounding AI-related news expected at NVIDIA's upcoming GTC event.
The conference, which will be held in San Jose, USA, from March 17-21, will feature luminaries such as Chandler Song, CEO of Project #Ankr, CTO Stanley Wu, xAI, #NEAR Protocol, Pixar, #Mastercard and other representatives from well-known companies speaking at the event.
The #AI token $ANKR soared ~40% as #Ankr CEO @chandlersyf and CTO @stanleywu84 will attend the #NVIDIA#GTC24 conference! pic.twitter.com/4mXy5KVqf1
— Lookonchain (@lookonchain) March 7, 2024
Interest in AI tokens is growing as these crypto projects are expected to be highlighted at the conference. As a rule, developers of AI-oriented protocols actively participate in such events.
During the coming flagship NVIDIA AI conference that's not too FAR out
— Arthur (@Arthur_0x) March 6, 2024
One, and only ONE crypto project will be featured and has their founder on a panel with Jensen Huang.
The future is xxxx. pic.twitter.com/UTaLlkl6Dl
It is worth noting that, according to CryptoRank, over the past 24 hours, the quotes of Fetch AI (#FET), Render (#RNDR), SingularityNET (#AGIX), and Ocean Protocol (#OCEAN) have increased by 30%, 29%, 33.5%, and 16%, respectively.
In November 2021, a similar scenario occurred when Facebook founder Mark Zuckerberg announced that the company would rebrand as #Meta, which led to a significant increase in #metaverse-related tokens.
Wouldn't surprise me to see these AI coins (and others on Binance) continue to pump further in the lead up to the Nvidia conference on March 17. This reminds me a lot of when Facebook rebranded to Meta in November 2021 and all metaverse coins ran up 6-10x in 29 days.
— Nacho Trades (@NachoTrades) March 6, 2024
NOT SAYING… https://t.co/CasYlaIRLJ
In November 2023, AI Project tokens rose significantly following an announcement by Ilon Musk, owner of X (formerly Twitter). Similarly, in February 2024, the value of tokens rose sharply after Nvidia published a report.
Previously popular memcoins such as Pepe (PEPE), Dogecoin (DOGE) and Dogwifhat (WIF) rose in price by 50% overnight, with analysts at K33 Research (WIF), suggesting that this could be a sign that altcoin season is upon us.
