Bitcoin (BTC), the leading cryptocurrency by market capitalization, has kicked off the year 2024 on a remarkable note, reaching highs of $45,925 in today’s trading session, reflecting a nearly 7% increase within the last 24 hours.
The positive momentum extends beyond Bitcoin, with some artificial intelligence (AI)-related crypto tokens showcasing a bullish run, outperforming the broader cryptocurrency market. Notable examples include Render (RNDR) and The Graph (GRT).
RNDR, the crypto token fueling the Render Network, has experienced a 9% surge in the past 24 hours, reaching a peak of $5.08 in today’s trading session. The token holds a market valuation of $1.83 billion, securing the 50th position in terms of cryptocurrency market capitalization.
The Graph (GRT) token, empowering The Graph Network, a decentralized protocol facilitating users to query and index data from various blockchains like Ethereum, Solana, and Polkadot, has seen a 12% increase in the last 24 hours, reaching $0.225 on January 2, 2024.
At the time of writing, GRT and RNDR tokens were trading at $0.213 and $4.895, respectively.
Artificial intelligence (AI) has emerged as the dominant crypto narrative in 2023, representing 11.3% of crypto narrative interest over the past year, according to an end-of-year study. The advent of ChatGPT in November 2022 propelled interest and activities related to AI in the tech industry, transcending into the cryptocurrency realm and highlighting AI-related coins.
Among AI tokens, Akash Network (AKT) experienced the most significant surge, achieving an all-time high of 13 times its January 1, 2023, price. Following closely, RNDR, the leading AI token by market capitalization, recorded an impressive 12-fold increase at its highest point in 2023.
