AI-related cryptocurrencies bucked the broader market downturn following Apple's recent "It's Glowtime" event, where the company unveiled its plans to bring artificial intelligence (AI) to smartphones. Tokens like Internet Computer Protocol’s ICP and Artificial Superintelligence Alliance’s FET saw significant gains despite general crypto market losses.
Apple's AI Foray
During the event, Apple introduced "Apple Intelligence," a suite of AI features that will be included in upcoming iOS updates. These features, such as advanced photo and video editing and smarter Siri responses, will be available in iOS 18.1 and beyond. The key development is the introduction of a software development kit (SDK) that allows app developers to build AI-powered apps while ensuring privacy and security.
Though Apple’s event did not mention blockchain or cryptocurrencies, many in the market are optimistic that Apple’s AI developments will benefit blockchain projects linked to artificial intelligence.
AI Tokens Shine Despite Market Decline
Tokens like ICP, which is linked to a decentralized blockchain platform focused on AI, surged by 10%, making it the best performer among the top 100 cryptocurrencies. FET, associated with decentralized AI applications, also gained 5%. Smaller AI-focused tokens like ChartAI’s EYE saw even larger gains, with a 50% increase.
Meanwhile, other major cryptocurrencies, including Bitcoin and Ethereum, struggled following the recent U.S. presidential debate, where pro-crypto candidate Donald Trump’s performance was perceived as weak.
As Apple continues to push AI technology forward, crypto markets may see more interest in AI-linked blockchain projects. Industry participants believe that blockchain and crypto could eventually integrate more deeply with AI technologies, fueling further growth.
Information source: CoinDesk
