Cryptocurrency prices surge amid AI-linked currencies boost

Trading saw a notable uptick in cryptocurrency prices yesterday, particularly those associated with artificial intelligence (AI), following the recent announcement by “OpenAI” regarding the launch of its experimental model “Sora” for text-to-video conversion.

Bitcoin climbed by 1.24% to reach $52,375, Ethereum saw a 3% increase to hit $2,910.84, and Ripple experienced a modest 0.16% rise to reach 55.96 cents, reports Al-Jarida daily.

According to data from the CoinGecko platform, cryptocurrencies linked to the AI sector saw an average increase of 7.7% over the past 24 hours. Notably, World Coin (WLD) surged by 30%, reaching a historic high of $7. World Coin is perceived by many cryptocurrency traders as a bet on the growth of OpenAI, given that Sam Altman, the founder of the parent company, is also associated with the currency’s issuance.

Investors in risky assets are closely monitoring the release of the US Federal Reserve’s minutes from its recent meeting, scheduled for today, Tuesday. This release is expected to shed light on the rationale behind interest rate decisions and provide insights to reassess expectations regarding the future trajectory of the monetary tightening cycle.

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