"Artificial intelligence" tokens explode because of the NVIDIA GTC AI 2024 event

The annual event for developers organized by Nvidia with the theme of AI has created a strong boom for "artificial intelligence" tokens.

After nearly 5 years since the 2019 COVID pandemic, NVIDIA GPU Technology Conference (GTC), the annual event for global developers organized by chip industry giant Nvidia, will officially return. again on March 18 - March 21, 2024 in San Jose (California, USA).

With the theme "The Conference for the Era of AI", artificial intelligence (AI) will become the central theme of GTC 2024, expected to attract more than 16,000 live exhibitors and about 280,000 attendees. in online form.

It can be said that this is one of the events that the technology world looks forward to every year, so even though it's only 2 weeks away, the keyword "AI" has quickly created an explosion in all aspects of media. , "AI Tokens" also took advantage of the opportunity to express themselves in the context of Bitcoin conquering its ATH peak of 69,000 USD.

In the last 24 hours, the market capitalization of "artificial intelligence" cryptocurrencies has increased by more than 14%, reaching a trading volume exceeding $8 billion (equivalent to a growth of more than 67%).

Leading the increase in the "AI Coin" list is the second IEO Launchpad project of the Binance exchange Fetch.ai (FET), the FET token recorded an increase of up to 42.48% in the last 24 hours, currently trading around 2.76 USD, equivalent to a 95% increase in value in the last 7 days. Notably, at the current price, FET has successfully conquered the ATH peak price range of 1.19 USD set in August 2021.

Following FET is SingularityNet - a market for trading AI products and services based on blockchain - whose AGIX token also recorded an increase of more than 38% in the last 24 hours, its capitalization value also increased 4 times to 1.57 billion USD compared to 368 million USD 1 month ago.

The market capitalization chart of SingularityNet (AGIX) grew 4 times, reaching a marketcap of 1.57 billion USD compared to 368 million USD 1 month ago.

Other AI Coins that recorded an increase of over 20% in the last 24 hours include:

• Ø Phoenix Project (PHB) - Infrastructure for AI technology on blockchain - "building a pillar" at 50%.
• Ø The platform supports "rendering" of digital products with integrated artificial intelligence Render (RNDR) with an increase of more than 37%
• Ø Sleepless AI (AI) - The 42nd launchpool project on Binance developing the Web3 gaming platform - recorded an increase of about 38%
• Ø Binance's 41st Launchpool NFPrompt (NFP) which uses AI technology to create NFTs also increased by more than 30%.
• Ø Particularly Worldcoin (WLD) - the "retina scanning" project co-founded by Sam Altman - one of the pioneering platforms using AI technology in real life, only recorded a poor increase of 8%. Originating because this currency has grown 4 times in February 2024, and has recently been entangled in many national legal "controversies".

The explosion of AI Coins was not only fueled by NVIDIA's GTC 2024 event, but also promoted by Ethereum co-founder Vitalik Buterin in the early months of this year. In January 2024, the "father" of Ethereum pointed out four ways to combine cryptocurrency with artificial intelligence and proposed the idea of auditing code using AI. Both proposals received a lot of support from Ethereum developers.

At the same time, the WLD token price of the Worldcoin project may fluctuate immediately after 165 million USD tokens are unlocked this week.

The rapid growth of the WLD token (more than 200%) over the past week seems to be benefiting a few key investment groups, especially creditors of two bankrupt platforms Three Arrows Capital (3AC). and FTX.

The above information was shared by 3AC founder Su Zhu on X (Twitter) on the evening of February 19. He affirmed:

"I won't benefit from a rise in WLD, but I'm excited for 3AC's creditors to have one of the best positions in the world."

Su Zhu also recalled the past of many people criticizing his investment in Worldcoin in 2021, to the point of refusing to share information supporting the project.

Worldcoin used to be a name that caused a lot of controversy, because of the idea of scanning the retina (iris) to identify users, in exchange for airdrop tokens.

In the past, 3AC participated in a $25 million capital call by Tools For Humanity, the developer of Worldcoin. At that time, the company's valuation was about 1 billion USD. Three Arrows Capital is still burdened with debt of more than 1.5 billion USD.

According to 0xScope's findings, Teneo liquidation address: 3AC (0xC7... 3741) owns 75 million WLD, worth about 550 million USD and is the asset with the highest net value currently. These tokens were transferred by Worldcoin in August 2023 and there has been no interaction since then.

Another group of creditors that can also benefit from Worldcoin is FTX. In the Series A round in October 2021, Worldcoin also received investment from Sam Bankman-Fried (SBF), the father and CEO of the bankrupt FTX exchange, currently facing 7 charges and sentences life imprisonment. Data from SpotOnChain shows that wallets linked to SBF's company also received 185 million USD WLD last August.

In the past 24 hours, WLD price has increased more than 30%, almost reaching the threshold of 8 USD and temporarily setting a new peak at 7,996 USD. This positive shift is enabled by OpenAI's newly launched video-from-text product Sora.

However, WLD may not be able to maintain the price increase, because there is about to be a token unlock worth 165 million USD taking place this week and ending on February 26.