AI-Linked Crypto Tokens Underperform as Apple’s Event Fails to Impress Traders

Artificial
intelligence-linked
(AI)
cryptocurrencies
slumped
Monday
as
tech
giant
Apple’s
(AAPL)
highly-anticipated
annual
developers
event
failed
to
inspire
traders.

Native
tokens
of
Render
(RNDR),

Fetch.ai
(FET)
and
SingularityNET
(AGIX)
declined
3%-5%
over
the
past
24
hours,
while
Bittensor’s

TAO
tumbled
nearly
6%
during
the
same
time.
Layer-1
network
Near
Protocol

(NEAR)
also
dropped
3.2%.

The

CoinDesk
Computing
Index,
which
includes
tokens
with
AI-related
utilities,
was
one
of
the
worst-performing
sectors
among
digital
assets,
losing
2.5%
in
market
value
during
the
day
and
underperforming
bitcoin

(BTC)
and
the
broader
digital
asset
benchmark

CoinDesk
20
Index.

The
decline
happened
as
expectations
were
high
for
the
tech
giant
to
reveal
its
AI
plans
and
how
it
would
weave
artificial
intelligence
into
its
offerings
at
this
week’s
Apple
Worldwide
Developers
Conference
(WWDC2024).
The
firm
on
Monday

announced
Apple
Intelligence,
a
suite
of
AI
features
for
iPhones,
Mac
and
other
products,
and
a

partnership
with
Sam
Altman’s
OpenAI
to
integrate
ChatGPT
into
Apple
software.

Apple
shares,
however,
closed
the
trading
session
nearly
down
2%
despite
slight
gains
for
key
U.S.
equity
indexes.