Following the crypto market recovery after the release of the US CPI data, AI tokens posted huge gains on Wednesday. Several factors may be the reason for renewed investor interest in these tokens.
Also read: Top AI tokens bleed despite reports of Apple closing deal to use OpenAI features
Several altcoins have posted gains in the past 24 hours, reacting positively to Bitcoin's rise after the US released its CPI data for April. AI tokens are among the largest gainers as the AI and Big Data category increased more than 11% on Wednesday, according to data from CoinMarketCap.
The recent huge gains have seen these tokens wipe off losses recorded earlier in the week, making them more attractive to investors. This is also seen in their overall trading volume, which has spiked more than 34%.
These AI tokens have seen notable increases in the past 24 hours:
Read more: AI crypto coins rally ahead of ChatGPT creator OpenAI plans to announce Google search competitor on Monday
Some of the reasons for their increased gain above coins in other categories include:
Also read: OpenAI parts ways with cofounder and chief scientist Ilya Sutskever
It's crucial to watch out for the upcoming NVIDIA earnings report as it may trigger volatility across the entire AI and Big Data category.