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These Altcoins Decoupled Positively from the Market: What’s in the Background?
Artificial Intelligence (AI)-based altcoins outperformed the market on Monday. They managed to stand out among the major crypto assets across the market. This was likely due to the recent announcements of new developments from AI and tech giants in the US. These altcoins witnessed almost double-digit or higher gains on the day.
Updates in the AI ecosystemmade a mark on the agenda
Tech giant NVIDIA announced DrEureka, a Large Language Model (LLM) on May 3rd. LLM is a type of artificial intelligence that can generate text, among other tasks. DrEureka automates writing code to train robot skills. In a demo, NVIDIA used DrEureka to train a robot dog to balance and walk on a ball without any fine-tuning of the simulation.
We trained a robot dog to balance and walk on top of a yoga ball purely in simulation, and then transferred zero-shot to the real world. No fine-tuning. Just works.
I’m excited to announce DrEureka, an LLM agent that writes code to train robot skills in simulation, and writes more… pic.twitter.com/kuG14LmSOh
– Jim Fan (@DrJimFan) May 3, 2024
OpenAI, led by Sam Altman, began rolling out the memory feature for its LLM ChatGPT on April 29. With this feature, the AI is able to transfer what it has learned between conversations when told to do so. The memory feature, which is available to paid users of ChatGPT, is currently available in Europe and Korea.
Memory is now available to all ChatGPT Plus users. Using Memory is easy: just start a new chat and tell ChatGPT anything you’d like it to remember.
Memory can be turned on or off in settings and is not currently available in Europe or Korea. Team, Enterprise, and GPTs to come. pic.twitter.com/mlt9vyYeMK
– OpenAI (@OpenAI) April 29, 2024
In addition to Q Apps, which allows non-technical users to create custom AI applications, Amazon launched the company’s AI-powered help for businesses on April 30. The tool allows users to enter prompts and develop AI using Amazon’s data.
Artificial intelligence altcoins diverged positively from the market
Cryptocoin.comAs you’ve been following, the market in general is following a zigzagging path. However, there are some tokens that stand out. Six of the top 10 AI tokens in the industry have posted near double-digit gains or higher. According to data from CoinGecko, AI altcoins such as Fetch.AI (FET), Render (RNDR), AIOZ Network (AIOZ), Ocean Protocol (OCEAN) and Arkham (ARKM) were up more than 10% on the day. Looking at the last seven days, almost all of the top ten AI tokens ranked by market capitalization have posted double-digit gains.
Top 10 AI tokens by market capitalizationAnnouncements and statements from tech giants about artificial intelligence have likely fueled the gains of AI tokens. The category’s market capitalization gained 10.7% to $27.9 billion on Monday.
