by Key Takeaways
- Nvidia (NVIDIA) will make its Q3 2024 financial results public on November 20.
- Render (RENDER), Akash Network (AKT), and AIOZ Network (AIOZ) are among the top-performing AI tokens that have experienced notable growth.
- With a 295% increase in the last month, the less well-known Virtual Protocol (VIRTUAL) project is driving the growth of AI tokens.
On November 20, the AI behemoth Nvidia will make public its fiscal year 2024 third quarter financial figures.
Let’s look at the most recent developments in the AI token market to see where traders are concentrating their efforts.
Current market trends for AI tokens
CoinGecko claims that although several AI tokens have experienced minor drops in value over the last day, their performance over the previous 30 days shows a different picture.
One such example is render (RENDER), which has increased by 50% in the last month.
In the past seven days, Akash Network (AKT) and AIOZ Network (AIOZ) have both experienced remarkable growth, increasing by 64.9% and 75%, respectively.
In contrast, Bittensor (TAO), which is the fourth-ranked AI token by market capitalization, lost 13% over that time.
Luna, Soul, and Virtual Drive the Growth of AI Tokens
One notable cryptocurrency with an AI focus is Virtual Protocol (VIRTUAL). With a market capitalization of $591.6 million, it is ranked 11th in this category.
VIRTUAL is the AI token that has grown the fastest over the last 30 days, with a 295.2% increase. It saw a 57.5% gain in the last week alone.
The Luna by Virtual (LUNA) coin, which we previously mentioned, saw a sharp 300% increase on October 26.
LUNA rose 201% in the last month, securing its position as one of the top five performing AI tokens. Additionally, on the same day, VIRTUAL and LUNA saw gains of 25.1% and 16.6%, respectively.
Phantasma (SOUL), which is ranked between VIRTUAL and LUNA in terms of performance, is another noteworthy example. In terms of price growth among AI tokens, SOUL came in second place with a 203.66% increase over the previous month.
Rent Draws Interest from the Market
Larger market-cap tokens like NEAR Protocol (NEAR), Internet Computer (ICP), and Bittensor have been somewhat quiet, while smaller projects like VIRTUAL and SOUL have seen the biggest growth.
One notable exception is Render, which has grown by around 70% over the last two weeks, according to CoinGecko.
Some traders are hopeful that high financial results could further raise the price of RENDER and other AI-related tokens as Nvidia is ready to report its Q3 earnings.
