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- Today, Apple launches the iPhone 16, one of its most anticipated devices as it’s the first to support artificial intelligence (AI) natively.
- While Apple’s previous announcement on AI has failed to move the markets for the major AI coins, this week could be different, even as most of these tokens opened the week on the green.
The era of artificial intelligence is upon us, and Apple, the world’s most valuable company, is not being left behind. Today, the Cupertino, California-based company unveils the iPhone 16, its first smartphone with native AI support, and it’s stirring excitement with holders of AI crypto tokens.
Apple will launch the new line of iPhone, iPad and wearables at the Glowtime event at 10 a.m. PT today. The new line of devices will come equipped with the all-powerful A18 chip, which will power the native AI that comes under the Apple Intelligence umbrella. They also come with new features, like a dedicated camera button and bigger screens for the Pro and Pro Max models.
However, the crypto community is awaiting the landmark event for completely different reasons. Apple is one of the world’s most influential organizations, and its endorsement of AI in its flagship devices is expected to give the technology a massive boost. In turn, the crypto faithful anticipates that this will spill over to the AI crypto tokens, giving them a much-needed boost after a lackluster week.
Will Apple Boost AI Crypto Tokens?
Most AI-related tokens have started the week in the green, outperforming the market average of 1.31%. The Artificial Superintelligence Alliance (FET), which brought together Fetch.AI, SingularityNET, and OCEAN, gained 5% in the past day to trade at $1.14, bringing its yearly gains to 57%. This helped reverse a dip in the past week, where it has now lost 3.8% overall.
Bittensor (TAO), whose network powers decentralized machine learning, gained an impressive 7.4% as its trading volume saw a 23% uptick. Render, another big player whose ecosystem offers decentralized GPU operations, lagged behind its peers, gaining a mere 0.9% to trade at $4.92 despite a 45% rise in its trading volume. Render has dropped over 60% since hitting an all-time high above $13 in March.
The sector is in need of a massive boost to rediscover its momentum, which made it one of the most alluring in the past few months as decentralising AI became one of the biggest topics.
However, the last time Apple held a major AI event, it failed to make a mark on related tokens. The annual Apple developers’ event was followed by an average of 4% decline in the prices of major AI tokens.
While today’s launch is much bigger than the June event, it might not reflect on the price of AI crypto tokens. However, these tokens still present massive long-term value as AI is only going to become more critical to our lives.
