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FET, RNDR, TAO prices skyrocket as U.S. leads 2024’s AI token scene

2min Read

The global interest in the AI narrative was led by the U.S., followed by UK and Turkey.

FET, RNDR, TAO skyrocket as U.S. dominates 2024 AI token scene

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  • The U.S. was followed by the UK with a 9% global interest share.
  • Bittensor, Render, and Fetch.ai were the most popular AI cryptos in 2024.

Away from the cacophony of Bitcoin [BTC] and memecoins, the crypto market was witnessing the rise of a new sector – the AI altcoins.

Bolstered by chip-making giant Nvidia’s skyrocketing market valuation, OpenAI’s launch of Sora, among other developments, the AI crypto narrative was gaining good ground in 2024.

U.S. leads AI crypto interest charts

The global interest in the narrative was led by the U.S., which accounted for nearly 19% of the global web traffic for the most popular AI coins, according to crypto market tracker CoinGecko.

The U.S. was followed by the UK with a 9% global interest share, and the third-ranked Türkiye which generated 6.5% of the global web traffic.

Philippines was the highest-ranked Southeast Asian nation with a 2.8% share of global interest, while Netherlands spearheaded the narrative within the European Union.

AI crypto narrative

Source: CoinGecko

Interestingly, the list also had countries that showed a high level of interest in memecoins previously, CoinGecko noted.

The most popular AI cryptos in 2024

Apart from the regions on the basis of interest, CoinGecko also highlighted the coins which garnered the most interest in 2024.

Bittensor [TAO] was the most popular AI cryptocurrency in 2024, accounting for 11.95% of the total market interest. This was followed by Render [RNDR] with a 10.18% share, and Fetch.ai [FET] with 8.86%.

RNDR was the biggest AI altcoin in terms of market cap at press time, according to CoinGecko. The token’s price has more than doubled to $11.44 since the start of the year. A similar uptick was observed for TAO in the same time.

AMBCrypto investigated some key technical indicators of the coins to gauge their next moves.

The Relative Strength Index (RSI) for RNDR dipped below the overbought territory, suggesting an ongoing correction. However, the broader sentiment was still bullish as it was above the neutral 50 mark.


Realistic or not, here’s FET’s market cap in BTC terms


On the other hand, TAO’s RSI hovered above the neutral mark. A move below it could strengthen bearish narratives.

The Moving Average Convergence Divergence (MACD) for RNDR just crossed below the signal line, revealing bearish tendencies. As for TAO, the MACD has been below the signal line for over a week, with little chances of a crossover.

AI tokens price analysis

Source: Trading View/RNDR and TAO

 

 

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Aniket Verma works as a journalist at AMBCrypto. Contrary to most who are primarily interested in merely tracking price movements of cryptos, his focus is on examining the niche intersection between cryptocurrencies and traditional finance. A so-so Bitcoin maximalist, Aniket has a strong disdain for memecoins and the unfounded frenzy they seem to generate every market season. Coming from a strong engineering background, Aniket previously worked as a Content Manager for TV9 Network. Before his stint over there, he was an Associate Multimedia News Producer at Reuters.
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