Bitcoin Hits $45,925, AI Tokens Surge: RNDR and GRT Lead the Way
Bitcoin, the largest cryptocurrency by market capitalization, has started the year 2024 with a bang as it reached a high of $45,925 in today’s trading session. Within the past 24 hours, Bitcoin has experienced a nearly 7% increase, showcasing its continued dominance in the crypto market.
While Bitcoin’s performance has been impressive, it is not the only crypto asset gaining attention in the new year. Artificial intelligence (AI)-related crypto tokens are also on a bullish run, outperforming the broader crypto market. Notably, the tokens powering the Render Network (RNDR) and The Graph Network (GRT) are leading the way.
RNDR, the crypto token fueling the Render Network, has seen a remarkable 9% increase in value within the last 24 hours. It reached a high of $5.08 in today’s trading session, pushing its market valuation to $1.83 billion. This ranks RNDR as the 50th largest cryptocurrency by market capitalization.
On the other hand, the GRT token, driving The Graph Network, a decentralized protocol facilitating data querying and indexing from various blockchains, including Ethereum, Solana, and Polkadot, has surged by 12% within the past 24 hours. It reached a high of $0.225 on January 2, 2024.
At the time of writing, GRT and RNDR tokens were trading at $0.213 and $4.895, respectively.
The rise of AI-related crypto tokens comes as no surprise, considering that artificial intelligence was the most popular crypto narrative in 2023, accounting for 11.3% of crypto narrative interest during that year. The introduction of ChatGPT in November 2022 sparked a wave of AI interest and activity within the technology industry, which has spilled over into the cryptocurrency world.
Among AI tokens, Akash Network (AKT) experienced the most significant increase, reaching an all-time high 13 times its price on January 1, 2023. Following closely behind was RNDR, the largest AI token by market capitalization, with its price soaring up to 12 times its 2023 yearly high.
In conclusion, while Bitcoin continues to impress with its soaring price, AI-related crypto tokens like RNDR and GRT are also making waves in the market. The rise of AI as a popular crypto narrative and the success of AI-focused projects and technologies are driving interest in AI-related coins. As the new year unfolds, all eyes will be on the performance and potential of these tokens and the ever-evolving crypto market.
References:
– [U.Today – Bitcoin Hits $45,925, AI Tokens Surge: RNDR and GRT Lead the Way](https://u.today/bitcoin-hits-45925-ai-tokens-surge-rndr-and-grt-lead-the-way)
