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AI project tokens up 25% ahead of Nvidia conference

Artificial Intelligence (AI): AI project tokens up 25% ahead of Nvidia conference

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.

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.

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.

AI project tokens up 25% ahead of Nvidia conference
AI project tokens rose 25% on average overnight. Source: CryptoRank.

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.

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.

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