After hitting a new high this year, Bitcoin is facing a slight and remains in the zone. At the same time, AI-based tokens seem to have laid a solid foundation, with most of them recording double-digit gains. Coins such as Singularity and Worldcoin have soared above 100%, while The Graph and Render have accumulated gains of more than 50% over the past week.
This trading setup suggests that AI-based tokens are building a strong bullish narrative, and here's why they can last a long time:
With the implementation of the Verkle tree, a potential AI integration on Ethereum, with a focus on data storage and node size, AI-based tokens have been hugely impacted with each upgrade of ChatGPT Open AI
Nvidia released its revenue report, triggering a new round of bullish sentiment for AI tokens, and the company's stock price soared along with it.
Depin, or decentralized physical networks and AI integrations, may also have a greater impact on AI tokens.
Now that the token has recorded huge gains, is it too late for the party?
AI tokens such as Render (RNDR) surged more than 18% following NVIDIA's earnings report, FetchAI (FET)* by 13% and Singularity (AGIX) by more than 30%. Previously, after Open AI launched SORA, the token experienced a decent development. However, some tokens, such as The Graph, are at the foot of the mountain of large-scale**.
The most recent result is at 0Hovering around $17 for a while before surging outside the key downtrend line. **Distance rises to 0The mid-term high above $31 is just one step away. Once these levels are exceeded and maintained, the GRT ** could trigger a new bullish trend with a higher target, possibly above $1.