TL;DR Breakdown
- Intel surge spotlights NEAR, RNDR, FET AI cryptos
- AI tokens NEAR, RNDR, and FET gain traction as Intel rises
- Intel’s AI push boosts interest in NEAR, RNDR, FET
Intel’s recent stock surge has drawn attention to the potential of artificial intelligence (AI) in the technology sector. As investors seek opportunities in this growing field, three AI-focused cryptocurrencies have emerged as potential candidates for increased interest: Near Protocol (NEAR), Render (RNDR), and Artificial Superintelligence Alliance (FET). This article examines these cryptocurrencies and their potential in the context of Intel’s recent performance.
Intel’s AI-Driven Momentum
Intel Corporation (NASDAQ: INTC) experienced a significant boost in its stock price, with shares rising nearly 8% in extended trading hours on Monday. This surge followed an update from CEO Pat Gelsinger regarding the company’s cost-cutting measures and business turnaround strategies. Intel’s focus on AI and its potential applications has played a crucial role in this renewed investor confidence.
As Intel’s stock gains momentum, the spotlight on AI technologies has intensified, potentially benefiting AI-focused cryptocurrencies. The following three coins have garnered attention for their AI-related initiatives and potential growth.
Near Protocol (NEAR)
Near Protocol is a $4 billion layer-one blockchain designed to facilitate the building of decentralized applications (dApps). Its AI capabilities focus on improving network efficiency and enabling smart contract optimization. Near Protocol stands out as one of the few blockchains that have successfully addressed the blockchain trilemma using its Nightshade technology, allowing faster transactions, lower costs, and higher transaction volumes.
The platform offers a developer-friendly environment with WebAssembly-based smart contracts and features the Rainbow Bridge for seamless asset transfer between Ethereum and NEAR. Near Protocol’s AI integration aims to enhance decision-making processes within the network, potentially leading to more efficient resource allocation and improved user experiences.
Render (RNDR)
Render is a leading multi-chain decentralized GPU computing platform that offers computing power for deploying computer-heavy operations such as 3D rendering, machine learning, and other GPU-intensive activities. Its connection to AI lies in its potential to support AI-driven rendering and computational tasks.
The RNDR token, Render’s native cryptocurrency, is trading at the time of writing this article at $4.77 after experiencing a 3.8% drop in the last 24 hours. Despite this recent dip, RNDR has been holding the $4 support level for over a month, suggesting that buying RNDR at these prices could potentially be a good investment opportunity.
As AI technologies continue to advance, Render’s network could become increasingly valuable for AI-related rendering and computational tasks, potentially driving demand for the RNDR token.
Artificial Superintelligence Alliance (FET)
The Artificial Superintelligence Alliance, represented by the FET token, is a decentralized AI solution on the Ethereum mainnet. The project’s main product is the Agentverse, an engine for creating various types of AI agents, including NFT generators, Chat Bots, smart contract generators, AI trading assistants, and more.
Recently, the FET price found support around $0.8 and bounced by an impressive 65%. The FET price is nearing completion of a bullish continuation pattern that could potentially catapult it by an additional 40% to $2.10. This price action, combined with the project’s ambitious goals in the AI space, positions FET as a cryptocurrency to watch closely.
Potential Impact of Intel’s Performance on AI Cryptocurrencies
Intel’s recent stock performance and its focus on AI technologies may have several implications for the AI cryptocurrency market. As traditional tech stocks like Intel gain momentum due to AI initiatives, investors may seek opportunities in AI-focused cryptocurrencies as alternative investment vehicles. Intel’s progress in AI hardware and software development could potentially benefit AI-focused blockchain projects, leading to improved performance and capabilities.
Furthermore, Intel’s prominence in the AI space may lead to partnerships or collaborations with blockchain projects, potentially benefiting cryptocurrencies like NEAR, RNDR, or FET. Positive sentiment surrounding AI technologies in traditional markets may spill over into the cryptocurrency sector, potentially driving up the value of AI-focused tokens.
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