NEAR Protocol

Apple

Shiba Inu

In an unprecedented turn of events, AI coins have experienced a notable price rebound today, piquing investor interest globally. This follows recent attention-nabbing developments witnessed across the AI sector, encompassing advancements by Apple, Binance, Tether, AMD, and other giants. Intriguingly, following a considerable upside momentum gained by AI coins today, some of the top crypto prices gained in tandem. This sparked a flurry of inferences among crypto market participants over AI’s role in crypto price rebound.
<h2 id="ai-coins-rebound-amid-sluggish-market">AI Coins Rebound Amid Sluggish Market</h2>
It’s worth mentioning that the broader <a href="https://coingape.com/crypto-market-correction-btc-eth-sol-xrp-altcoins-100b-liquidation/" target="_blank" rel="noopener noreferrer nofollow">crypto market</a> has been experiencing quite a bearish trend in recent days, with Bitcoin (BTC) &amp; Altcoins witnessing a significant drop in prices. However, the <a href="https://coingape.com/glossary/artificial-intelligence/" target="_blank" rel="noopener noreferrer nofollow">AI</a> sector’s remarkable progress and the growing speculation about the convergence of these two industries have led to a substantial rebound in AI coins’ value.
This is followed by a 3.21% surge in the global crypto market cap today after a bearish movement engulfed most crypto prices in the past 24 hours. Bitcoin, Ethereum, and BNB have gained an upside momentum in tandem with AI coins.
According to CoinMarketCap’s data, top AI coins NEAR Protocol (NEAR), Render (RNDR), and Injective (INJ) have noted a aignificant upside momentum at the time of writing. RNDR leads the pack with a remarkable 11.32% increase to $9.17, while NEAR and INJ experienced gains of nearly 6%-10%.
Simultaneously, <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> gained over 3% to $69,7322, ETH jumped by 2.82% to $3,639, and BNB bumped 2.96% to $626 at press time.
Also Read: <a href="https://coingape.com/shiba-inu-exec-warns-bearish-outcome-as-apple-exits-x-amid-elon-musk-heat/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu Exec Warns Bearish Outcome As Apple Exits X Amid Elon Musk’s Heat</a>
<h2 id="what-s-the-scoop">What’s The Scoop?</h2>
Senior crypto research analyst at Bitwise, Juan Leon, spotlighted that “The intersection of artificial intelligence (AI) and crypto is going to be even bigger than people imagine. The two industries could add a collective $20 trillion to global GDP by 2030.”
Aligning with this, the surge in AI coin &amp; altcoins prices comes against the backdrop of attention-nabbing developments. These include:
<ul>
 <li>Apple appears to have recently unveiled its AI, gearing up for the next stage of developments that taps into this emerging tech.</li>
 <li>Binance Labs recently announced to invest in an <a href="https://coingape.com/binance-labs-invests-in-ai-zk-rollup-zircuit-here-everything/" target="_blank" rel="noopener noreferrer nofollow">AI-enabled zk rollup</a>, Zircuit (L2).</li>
 <li><a href="https://coingape.com/tether-eyes-over-1-bln-investment-in-ai-biotech-report/" target="_blank" rel="noopener noreferrer nofollow">Tether</a> unveiled plans to invest over $1 billion in AI over the coming year.</li>
 <li>AI chipmakers Nvidia &amp; AMD pioneer the realm, simultaneously.</li>
 <li><a href="https://coingape.com/bitcoin-miners-diversifying-into-ai-projecting-billions-in-revenue/" target="_blank" rel="noopener noreferrer nofollow">BTC miners</a> look into diversifying ventures into AI, per recent reports.</li>
</ul>
These factors, collectively, underscore a strong relation between the rise in AI coins and crypto prices. The intersection of the two sectors, as seen by the abovementioned ventures, paves an optimistic path for both sectors.
Also Read: <a href="https://coingape.com/bitforex-hot-wallet-reactivated-holding-43m-in-assets/" target="_blank" rel="noopener noreferrer nofollow">BitForex Hot Wallet Reactivated Holding $43M In Assets</a>
The post <a href="https://coingape.com/ai-coins-trigger-crypto-market-rebound-whats-happening/" rel="noopener noreferrer nofollow">AI Coins Trigger Crypto Market Rebound, What’s Happening?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

AI Coins Trigger Crypto Market Rebound, What’s Happening?

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