As Nvidia makes waves on the stock market after another booming quarterly report, the AI narrative appears to be making a resurgence in crypto markets, but as appetite for AI cryptocurrencies reaches a fever pitch – is it all hype?

Leading chipmaker Nvidia has seen a strong return (+7%) on the market this week after smashing already high expectations for its latest earnings report.

Investors have turned bullish after Q4 2023 earnings per share came in at $5.16, a +12.4% increase on the $4.59 earnings expected by equities markets.

This was matched by impressive revenue growth, which came in at $22.1bn – once again beating Wall Street predictions.

Nvidia’s outstanding performance has shone a spotlight on the alluring growth in the AI sector, and the excitement has spilled over to cryptocurrencies – which analysts think are on the brink of another bull run.

The return of crypto investors flocking to position themselves in AI cryptocurrencies marks a return to the so-called ‘AI narrative’ of 2023 and has already been fueling some explosive moves in the charts, but how promising do these tokens look?

Let’s look at 3 of the top AI cryptos to see if they’re really that promising.

AI Crypto #3 – Render (RNDR)

Render (RNDR) can be considered as crypto’s answer to Nvidia. This promising token is making it big off the back of the AI narrative by providing a decentralized alternative to critical AI hardware infrastructure – Render enables users to rent out their unused Graphics Processing Unit (GPU) capacity to enable high-level content rendering on a decentralized network scale.

Native RNDR token effectively acts as the settlement bridge between GPU owners and GPU users, with content creators posting jobs they need to be done. They are then automatically calculated and generated as smart contracts for fulfillment on the Render network.

The project is gaining a ton of traction, with Render hitting major stamps of approval throughout 2023, such as a highly sought-after Apple integration, which has set the stage for Render’s unique value proposition to flourish.

As Nvidia Quarterly Report fuels stock market gains, it appears the AI narrative is sweeping back into crypto markets - but is it all hype?

Currently trading at a market price of $7.54 (representing a 24-hour change of +9%), Render has experienced impressive growth over the past 3 months – posting an +132% gain.

With close support from the ascendant 20DMA, analysts are hinting that Render may be on the verge of a breakout that could see the previous all-time high at $7.94 smashed. Naturally, no one can predict the future exactly and other factors like a stumble from Nvidia could ruin Render’s chances of reaching all-time highs again.

Strong momentum is highlighted on the MACD, indicating a good outlook. However, an overheated RSI (relative strength index) could signal a need for retracement in the short term.

AI Crypto #2 – SingularityNET (AGIX)

SingularityNET was one of the early players in AI crypto and, for a number of years now, has been aiming to build a decentralized ecosystem for democratized AI.

With a live and working product, SingularityNET already has more than 70 agents built by community AI developers available for purchase on the marketplace, bolstered by multi-chain capabilities.

Currently trading at a market price of $0.71 (representing a 24-hour change of +4%), SingularityNET has also been ignited into a skyrocket move by the resurgence of the AI narrative.

Now trading on a +177% monthly gain, AGIX token has bounced off 20DMA support in a major bullish breakout that has seen AGIX already post a new all-time high at $0.75.

With AGIX teetering on price exploration, the huge move highlights the growing traction of the AI narrative across the crypto space – and this is spotlighted further by severe overbought divergence with its RSI at 93.

AI Crypto #1 – (FET)

Topping off our list is (FET), the leading AI cryptocurrency across the entire industry. Under the stewardship of CEO Humayun Sheikh, Fetch has been working to push the frontier of blockchain-based AI for years. offers a permissionless network ecosystem that enables anyone to access secure datasets and use autonomous AI to execute tasks to leverage its global network of data via a agents and micro-agents.

These ‘agents’ can be built by developers on the blockchain and placed for sale on the marketplace – enabling a truly decentralized and democratically accessible model for AI developers around the world.

As Nvidia Quarterly Report fuels stock market gains, it appears the AI narrative is sweeping back into crypto markets - but is it all hype?

And traders haven’t been missing out on the action, with FET token currently trading at a market price of $1.16 (representing a 24-hour change of +1.77%).

This comes as hammered up an impressive 128% gain in the past 3-months amid volatile support from the ascendant 20DMA, which has sustained price action for much of 2024.

Now breaking out above upper trendline resistance, FET is now testing its previous all-time high around $1.20, with analysts predicting a shift into price exploration as likely.

However, with a call for retracement from an overheated RSI and fleeting momentum on the MACD, consolidation may soon offer an entry point to sidelined investors.