Heres Why AI Coins Are Up with Fetch.ai & WienerAI Among Top Gainers
AI crypto projects are in high demand right now.
While other areas of the crypto market might be displaying volatility, AI tokens are continuing higher with Fetch.ai (FET) and WienerAI (WAI) leading the charge.
Fetch.ai Benefits From Buzz Around AI Cryptos
Lets kick things off with Fetch.ai, which has traders buzzing after its FET token went on a tear in the past 24 hours.
The AI-focused token surged as much as 19% at one point, putting a stop to the slide it had been experiencing since early June.
While FET has pulled back slightly from yesterdays peak, its still holding on to an 11% gain and is trading around $1.62.
This pump has been accompanied by a significant volume spike spot trading for FET topped nearly $200 million in the past day alone.
But its not just Fetch.ai thats doing well this week.
From Injectives INJ token to Renders RNDR and even Bittensors TAO coin, the AI crypto crew is predominantly in the green.
In fact, the total trading volume for AI-related digital assets has rocketed by 37% in the past day.
Those are some impressive numbers, considering the overall bearishness in the crypto market right now.
Apple Developer Conference & Cooling Inflation Prompt Interest in AI Coins
No wonder AI coins have caught a bid this week.
The hype around AI technology has pumped to a new level, mainly because of Apples Worldwide Developers Conference.
At the event, the tech giant unveiled big plans to integrate generative AI (like ChatGPT) into its devices.
This will include AI emojis, automated writing assistance, AI image editing tools, and more.
Apple is clearly going all-in on AI.
And when a company of that size makes those kinds of moves, they benefit the entire AI sector.
But theres also another reason why AI cryptos are doing so well.
The latest US inflation data came in slightly cooler than expected, easing fears of an economic hard landing.
With the Fed deciding to keep interest rates the same, risk assets like crypto are getting a boost of confidence.
Combine the renewed AI hype with decreasing economic worries, and theres a recipe for money flowing back into AI-focused crypto projects.
Investors are betting on AI again and its been great news for projects like Fetch.ai.
WienerAI Making Waves with AI-Powered Trading Bot & Early Presale Success
While established crypto projects are benefiting from the AI hype, one new meme coin seems to be capturing investors attention WienerAI.
This meme coin, with a robot-style dachshund mascot, is quickly becoming the talk of the crypto market.
Sure, the design gives off classic dog-themed vibes. But underneath the hilarious branding, WienerAI has some serious AI utility.
The key selling point is its AI-powered crypto trading bot that scouts opportunities and executes trades for users.
WienerAIs bot uses predictive algorithms to sniff out potential winners and even boasts frontrunning bot protection.
It takes all of the hard work out of crypto trading.
The AI capabilities dont stop there since WienerAI also has a staking protocol where holders can earn passive income on their WAI tokens.
With over 5.1 billion tokens locked up already, its clear the Sausage Army is buzzing about these staking rewards.
WienerAI is still in its presale phase, so investors cant yet buy WAI tokens on the open market.
However, the presale has been an instant hit raising over $5.6 million already.
This early fundraising has caught the eye of top YouTubers like Michael Wrubel, who described WAI as his top AI meme crypto for 2024.
Cryptonews analysts even speculated that WienerAI could be the next big breakthrough in AI crypto.
Whether the hype is justified or not, one thing is certain: WienerAI has tapped into the interest in AI tech in a unique way.
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