Nvidia’s AI Surge Propels AI Tokens: A Comprehensive Look at Market Reactions for GRT, AGIX, and FET

• AI-focused cryptocurrencies show potential for a comeback amid anticipation of market consolidation.
• NVDA’s strength and ASI token merger contribute to positive sentiment in the AI sector.
• Despite mixed performance, collaborations aim to democratize AI development and foster innovation.

June is shaping up to be an exciting month for AI-focused cryptocurrencies. Experts are cautiously optimistic about a possible comeback for the following digital assets.

CryptoRand Analysts Highlight Key AI-Focused Cryptocurrencies

CryptoRand analysts point to INJ, RNDR, FET, and OCEAN as attracting renewed attention. This comes as the AI index exhibits signs of stabilizing at a new higher low, suggesting a potential bullish reversal if it consolidates above $10.50.

Nvidia’s Influence on AI Sentiment

One factor contributing to this anticipation is the recent strength of Nvidia (NVDA), a leading chipmaker with a prominent role in the AI industry. NVDA’s surge to new all-time highs is often seen as influencing broader sentiment in the AI sector.

Token Merger to Democratize AI Development

Adding to the buzz is the impending merger of tokens associated with Fetch.ai, SingularityNET, and Ocean Protocol (ASI). This collaboration signifies a concerted effort to advance the field of artificial intelligence.

As previously reported on Coin Edition, the Artificial Superintelligence Alliance, led by Humayun Sheikh (Fetch.ai CEO), aims to democratize access to AI resources and challenge the dominance of Big Tech companies. The token merger is viewed as a move aimed at achieving AGI and ASI faster and with better efficiency.

Industry Leaders Endorse the Initiative

Industry leaders such as Dr. Ben Goertzel of SingularityNET and Bruce Pon of Ocean Protocol endorse the initiative. This collaboration not only fosters innovation but also promotes inclusivity by making AI advancements more widely accessible across various sectors. Despite the positive sentiment, current trading activity for these AI-focused tokens remains mixed.

Conclusion

SingularityNET (AGI) is currently trading at $0.9321 with a daily volume of $112,950,004, down slightly over 2% in the last 24 hours. Fetch.ai (FET) sits at $2.22 with a trading volume of $245,521,169, reflecting a decline of approximately 2.6%. Ocean Protocol (OCEAN) trades at $0.9345 with a volume of $34,322,933, down around 2%. RNDR stands at $10.27 with a trading volume of $347,654,523, representing a decrease of 2.27%. Injective (INJ) is priced at $26.18 with a volume of $97,766,760, down 1.38%.