AI cryptos are raising the bar on the market

Good things are in store for the whole cryptocurrency market, including altcoins, as evidenced by Bitcoin's recent resurgence. Cryptocurrencies using artificial intelligence (AI) are also performing quite well.

Notable returns to highs that satisfy traders and cryptocurrency aficionados include FET, RNDR, and AGIX.

A cryptocurrency analyst exclaims, "We are in an AI super cycle right now." Recent data demonstrating the growth of Bitcoin and other cryptocurrencies lends credence to this claim. So why voice complaints?

After reporting a meagre $56,500 last week, the value of bitcoin is currently rising by more than $7,000.

It's the artificial intelligence (AI) cryptocurrency gold rush of the digital era! These digital currencies, which are inherent to blockchain projects powered by AI, are driving the cryptocurrency market's comeback, according to CoinDesk.

The chip giant Nvidia's (NVDA) stock has also increased recently. The AI market frequently experiences instability when the shares of this company, which is regarded as the industry leader in AI, increase.

The Render Network's RNDR token, which is used for decentralised GPU-based rendering solutions, has seen a sharp increase, rising by almost 40% to $10,432 in just seven days.

Other AI-powered cryptocurrencies, such as AGIX from SingularityNET, TAO from Bittensor, and FET from Fetch.ai, also had sharp increases, exceeding the market as a whole. The CoinDesk 20 index increased by 0.6%, whereas Bitcoin (BTC), the biggest cryptocurrency by market capitalization, increased by 1.7%.

The top-performing coins this week, according to cryptocurrency analytics firm DYOR, are DePIN tokens and decentralised AI coins.

The creator of DYOR, Hitesh Malviya, says, "There's a lot of talk about Nvidia's upcoming profits." Since AI coins are closely linked to all of the AI progress that is taking place all around us, they will continue to ride [greater] cycles.

On May 22, the chip manufacturer is anticipated to release its first-quarter earnings. Earnings per share were expected by Zacks Investment Research to be $5.49, up 403% from the previous year.

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