Tokens associated with blockchains in Artificial Intelligence (AI) skyrocketed amid the current market downtrend. The surge in AI tokens coincides with efforts from iPhone maker Apple to bring AI functionalities to its smartphones.
AI tokens transform crypto by combining AI with blockchain, creating faster, smarter, and more powerful platforms.
AI Tokens on Rampage: ICP, FET, INJ Leads Market Trend
Per market cap data, the top AI tokens leading to bullish momentum include Internet Computer (ICP), Artificial Superintelligence Alliance (FET), and Injective (INJ). These tokens support initiatives that use AI to automate transactions, forecast market trends, and allow fast machine communications.
ICP price was trading for $8.6, surging by 8% in 24 hours and 20% in the past week. The trading volume spiked by over 215% to $197,402,059, demonstrating increased investor interest.
Similarly, FET’s price increased by 5% and 19.4% in the past day and week. The token now trades at $1.31, with a market capitalization of $3.3 billion. Injective, currently ranked the 45th largest digital asset by market cap, also recorded a 24-hour rise of 2.05%. The trading volume, however, dropped by 4% to $84,537,554.
The surge in AI-focused tokens is notable as it comes amid a drawdown in the broader market. For instance, Bitcoin (BTC), the biggest digital asset, plummeted by 0.78% in 24 hours. Ethereum (ETH) followed the same path, declining by 1.1% within the same period.
Apple’s Big Move to AI
Meanwhile, Apple announced at the “It’s Glowtime” Monday event that it was bringing AI capabilities to its smartphones. The company said it would focus on introducing AI features such as smarter Siri responses, image generation, personalized writing assistance, and others.
These improvements will be available in the iOS 18.1 update and beyond. It plans to float these updates under the banner of Apple Intelligence, the company’s foray into generative AI. Apple Intelligence will also feature a Software Development Kit (SDK).
This will allow developers to build their apps using on-device generative models. In the process, they will enjoy the full protection of Private Cloud Compute’s security and privacy features.
There was no discussion of crypto or blockchain at the Apple event. However, market participants believe Apple Intelligence will have a favorable impact on AI tokens in general.
AI Token Advances: The ASI Alliance
The ASI alliance is a merger of Fetch.ai, SingularityNET, and Ocean Protocol. Its mission is to advance AI research and develop Artificial General Intelligence (AGI).
To further its AI development, the Alliance has launched its native token, FET, on the Cardano blockchain. As a result, the FET token is now known as Artificial Superintelligence (ASI).
This helps further the legacy of the AGIX token that once represented SingularityNET on Cardano. ASI Alliance said its collaboration with Cardano has strengthened its network.
In the future, ASI plans to leverage Cardano’s advanced and secure infrastructure to make AGI accessible to everyone. The token deployment quickly triggered positive sentiments for FET and ADA, Cardano’s native cryptocurrency.
