AI-Driven Cryptocurrencies Surge Following Apple’s AI Innovations

AI-Driven Cryptocurrencies Surge Amid Apple’s Innovations

In a notable turn of events, native cryptocurrencies linked to blockchain projects focused on artificial intelligence (AI) have outperformed the broader market following Apple’s recent showcase of its AI advancements for smartphones. The Internet Computer Protocol’s ICP token, a decentralized blockchain platform emphasizing AI, has surged approximately 10% within a 24-hour period, making it the top performer among the 100 largest cryptocurrencies by market capitalization, as reported by Coingecko.

Another standout is the Artificial Superintelligence Alliance (previously known as Fetch.AI), whose FET token climbed to the fifth position with a 5% increase. Additionally, smaller tokens have reported impressive double-digit gains, with ChartAI’s EYE token leading the charge with a staggering 50% rise.

Conversely, market leaders such as Bitcoin (BTC) and Ether (ETH), among other major cryptocurrencies, faced declines. This downturn coincided with pro-crypto U.S. presidential candidate Donald Trump’s disappointing performance during a debate against rival Kamala Harris. The CoinDesk 20 Index (CD20), which tracks the overall cryptocurrency market, experienced a loss of 0.7% during this timeframe.

Apple’s recent event, titled “It’s Glowtime,” centered around integrating AI features into its smartphones. The tech giant announced plans to roll out various AI capabilities, including enhanced writing tools, smarter Siri responses, and advanced photo and video editing options, all branded under the umbrella of Apple Intelligence. These features are set to debut in the upcoming iOS 18.1 update and subsequent releases.

A standout element of Apple Intelligence is its software development kit (SDK), which will empower developers to create applications utilizing on-device generative models while benefiting from robust security and privacy measures provided by Private Cloud Compute.

Although the event did not specifically address cryptocurrencies or blockchain technology, market participants remain optimistic that Apple Intelligence will positively influence all AI-related initiatives, including those within the blockchain sphere. As Pranav Maheshwari, an engineer at the Graph Protocol, expressed on X, “Just like everyone’s buzzing about Apple Intelligence in phones now, soon it’ll be all about crypto. People will want blockchain and crypto payments baked into their phones. Watch the shift happen. Slowly, then suddenly.”