Due to strong demand for AI processors, artificial intelligence cryptocurrencies have surged

On Thursday, May 26th, local time, boosted by Nvidia's expected performance and the growing demand for future chips used in the field of artificial intelligence, cryptocurrencies themed on artificial intelligence were sought after by investors, with prices showing a general rise.According to relevant data, the AGIX coin of Singularity Intelligence, a blockchain artificial intelligence platform, rose 19% to 29 cents on the same day; The CTXC coin rose 6% to 17 cents, while the MDT coin rose 6

On Thursday, May 26th, local time, boosted by Nvidia's expected performance and the growing demand for future chips used in the field of artificial intelligence, cryptocurrencies themed on artificial intelligence were sought after by investors, with prices showing a general rise.

According to relevant data, the AGIX coin of Singularity Intelligence, a blockchain artificial intelligence platform, rose 19% to 29 cents on the same day; The CTXC coin rose 6% to 17 cents, while the MDT coin rose 6.5% to 4 cents. All of these tokens have a market value of less than $40 million.

The FET coin issued by Fetch.ai, a decentralized artificial intelligence project, rose nearly 5% to 23 cents; The total market value reached $195 million.

At the same time, most traditional cryptocurrencies, including Bitcoin and Ethereum, performed mediocrely.

Artificial intelligence cryptocurrency refers to the tokens issued by blockchain based artificial intelligence projects. For example, Fetch.ai is committed to building "automated intelligent services" infrastructure for supply chain, finance, tourism, and other fields. Cortex's goal is to achieve "the first computer capable of running artificial intelligence and decentralized applications on the blockchain".

Later this Wednesday, chip manufacturer Nvidia released strong performance expectations and mentioned growing demand in the artificial intelligence field. The company's expected revenue for the second quarter of the 2024 fiscal year is more than 50% higher than analysts' expectations.

This stimulated both the S&P 500 and Nasdaq Composite Index to rise on Thursday, and also to some extent boosted the sentiment of cryptocurrency traders.

Some market participants in the investment technology industry have long believed that the early development of artificial intelligence can benefit from blockchain technology, which in turn may actively promote the development of the entire cryptocurrency market. Specifically, as AI on the Internet becomes more and more intelligent and good at controlling people's identities, blockchain technology may be used for large-scale deployment of digital identity solutions.

However, this may still have a long way to go, as both technologies are still in their early stages. (Chen Chen)