3 AI Crypto Coins To Watch Ahead Of Nvidia GTC 2024 Conference

As Bitcoin, Ethereum, and top coins retreat from fresh highs, market attention is shifting to focus on Artificial Intelligence (AI), with excitement building ahead of next week’s Nvidia GTC 2024 conference – here are 3 AI crypto coins to watch.

Data from CoinMarketCap reveals that NEAR Protocol (NEAR), The Graph (GRT), and Fetch.ai (FET) are currently up 37%, 15%, and 2%, respectively, in the last week of trading. 

Notably, this resilience comes despite a broader market dip, with leading assets like XRP reversing all gains posted last week.

Bitcoin is also struggling for upward momentum following Yesterday’s new all-time high at $37,373 – despite the spike in institutional demand.

On the other hand, hopes of Dencun driving Ethereum above $4,000 and towards 2021 all-time highs of $4,900 are diminishing in the short-time frame.

NEAR, FET, and GRT have led other AI crypto coins in gains following Nvidia’s latest earnings call, with their revenue forecast exceeding analyst expectations.

Following this, Nvidia stock prices soared, adding over $1 trillion in value in 2024 alone – while the uptrend has slowed, the NVDA stock price remains up 122% from October 2023. 

3 AI Crypto Coins To Watch Before Nvidia GTC 2024

As the AI narrative hits fever pitch ahead of the Nvidia GTC 2024 conference closer, crypto AI fans and investors are keeping a close eye on several tokens and coins in the weeks and months ahead, here are 3 of the top AI crypto coins to watch this weekend.

#1 – NEAR Protocol (NEAR)

Like Ethereum, the platform supports smart contracts. However, it is more scalable, and developers can quickly deploy programs. Its developers have created efficient architectures that can support the computationally intensive demands of AI apps. NEAR is up 620% from October 2023, trading at over $7.4.

#2 – The Graph (GRT)

The Graph (GRT) is a market-leading indexing protocol offering a decentralized query solution as key infrastructure for much of the blockchain economy, giving rise to the popular nickname ‘the Google of blockchain’.

At a base level, The Graph enables blockchain networks to request, find, and gather needed information from across the crypto industry, and accordingly, there is an industry-leading open infrastructure layer for dApps to query data.

GRT – the network’s utility and settlement token – could see major value accrual, with prices expected to benefit from the AI boom because crypto AI dApps will rely increasingly on accessible and secure data indexes, to provide the datasets needed to train and develop AI models on blockchain.

And amid the AI narrative, investors are taking note – since October 2023 GRT prices have rallied by 420% to over $0.39.

#3 – Fetch.Ai (FET)

Fetch.Ai is building a public blockchain aiming to empower a machine-learning network, to become the premier decentralized network for developers and clients to launch AI models  (known as AI agents and AI micro-agents) from a secure and collaborative environment, driving innovation in the space.

Since October 2023, FET prices have soared by +572% over the past year, and ahead of Nvidia GTC 2024 FET is trading at significant heights over $2.5.

The Bottom Line: Nvidia GTC 2024 as Catalyst For AI Narrative

Whether the upcoming Nvidia GTC 2024 conference will drive crypto-AI prices even higher remains to be seen, however, it’s clear that the current excitement surrounding the event has propelled impressive gains – with countless AI crypto coins hitting all-time highs in recent days.

Besides key announcements and keynotes, the Nvidia GTC 2024 conference might also showcase the latest advancements in AI – with markets anticipating major product reveals that could catalyze price moves in the same way as OpenAI’s Sora video generator launch.

Moreso, important partnerships could be announced that could significantly impact crypto-AI projects and Nvidia – as blockchain increasingly becomes a hub for decentralized AI development.

Still, caution should prevail- market data shows that investors think NVDA stock is now over-valued.

Consequently, Nvidia is now the third-most shorted stock, with $18.3 billion of capital betting for NVDA prices to fall in the weeks and months ahead.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.