Artificial intelligence-related cryptocurrencies saw a significant rebound over the past day as several new developments surrounding the AI industry reignited interest among its investors.
NEAR protocol NEAR protocol (CLOSE), the largest AI coin by market cap, is up 6% in the past 24 hours, trading at $5.45 per coin at press time. Computer Internet Computer Internet (PCI), Give back (GIVE BACK), Bite tensor (TAO), And FET recorded gains of 5.2%, 7.6%, 7.5% and 4% respectively during the same period.
Meanwhile, other AI Livepeer tokens (LPT), Virtual Protocol (VIRTUAL), AI Rig Complex (ARC) and PAAL AI (PAAL) saw much higher gains of 20.7%, 20.5%, 19.5% and 16.7% respectively. All of these AI-related gains helped push the total market cap of AI coins up 25%, to $43.5 billion at the time of writing.
The AI sector surged after President-elect Donald Trump took office revealed White House advisers who will work alongside the new AI and crypto czar, David Sacksto centralize artificial intelligence policy and strengthen the country’s leadership in transformative technologies.
The announcement, made through two Truth Social messages on December 23, the appointment of Sriram Krishnan as senior policy advisor for artificial intelligence, a newly created role within the White House Office of Science and Technology Policy.
Additionally, Michael Kratsios was named director of OSTP, while Lynne Parker was named executive director of the President’s Council of Advisors on Science and Technology, two offices that predate the Trump administration. Kratsios and Parker have already played key roles in advancing the AI industry in their respective positions.
The appointment of AI experts to key positions within the Trump administration has likely boosted investor confidence in the future of the AI sector. AI-related crypto assets often see rebounds in response to positive developments and bullish news within the AI sector.
Another key factor likely to support the recent surge in AI tokens is major funding. announcement from xAI, the AI startup founded by billionaire Elon Musk. On Monday, the company revealed that it had secured $6 billion in its latest funding round, bringing its total valuation to more than $40 billion.
xAI said the newly raised funds, which included participation from chipmaking giants NVIDIA and AMD, will be allocated to building advanced AI infrastructure and improving the development of its flagship models.
As reported According to crypto.news earlier, AI tokens had already reached an all-time high on November 28, following an exceptionally upbeat quarterly sales report from AI chip manufacturing giant Nvidia, which surpassed market expectations.
