Render Price Plummets 10.4% Amid AI Market Decline Following DeepSeek News

According to data from CoinGecko on January 27th, the cryptocurrency market is witnessing notable fluctuations linked to recent developments in the AI sector. Specifically, the market capitalization of AI altcoins has diminished by an alarming 10.4% over the past 24 hours, with certain altcoins experiencing even steeper declines. For instance, RENDER has dropped 10.4%, trading at $6.28, while VIRTUAL has seen losses of 18.3%, currently priced at $2.05. Additionally, GRIFFAIN fell 25.7% to $0.3094, and ARC reported a decrease of 27.1%, now valued at $0.2631.

The downturn in AI-related cryptocurrencies is attributed to the launch of two large models, DeepSeek-V3 and DeepSeek-R1, by the Chinese startup DeepSeek. These models are positioned as direct competitors to major players like OpenAI, offering superior performance at significantly lower costs. Market analysts express concerns over the potential impact of these developments, leading to drops in US stock index futures during early Asian trading sessions.