Top AI cryptos plunge as Elon Musk’s recent remarks hurt sentiments

    While the broad crypto market remains downbeat, AI-linked digital coins record the most declines as Apple’s WWDC failed to match the expected buzz.

    Market players anticipated groundbreaking advancements in AI at the annual conference.

    Indeed, the company announced “Apple Intelligence” and a new deal to integrate ChatGTP.

    However, these announcements failed to stir the markets, and Elon Musk’s warning added to the downbeat mode.

    The Tesla executive promised to prohibit Apple devices at his firms if the tech giant integrates OpenAI’s ChatGTP.

    If Apple integrates OpenAI at the OS level, then Apple devices will be banned at my companies. That is an unacceptable security violation.

    — Elon Musk (@elonmusk) June 10, 2024

    In response to Apple CEO Tim Cook’s post, Musk added,

    “Don’t want it. Either stop this creepy spyware or all Apple devices will be banned from the premises of my companies.”

    While $APPL shareholders celebrated a 5% surge, Musk’s privacy concerns saw AI-linked cryptocurrencies plunging.

    AI tokens saw their overall market cap has dipped by 7.75% over the past day to $33.07 billion.

    AI cryptos crash on the market “disappointment”

    The ongoing developments in the artificial intelligence industry saw related digital coins plummeting.

    Near Protocol, Render, and lost 7%, 11%, and 10% on their daily price charts.

    Robust bearishness saw (IO) failing to capitalize on Binance’s listing, dropping by 20% from its daily high.

    $IO is live on @binance

    — (@ionet) June 11, 2024

    The declined prices by AI cryptos following Musk’s remarks show how notable figures can move markets.

    The Tesla CEO has been an active crypto advocate, propelling Dogecoin (DOGE) to ATHs in 2021 with a series of X posts.

    Planned ASI alliance rescheduled

    On other related updates,, Ocean Protocol, and SingularityNET have rescheduled the planned merger for 15 July.

    The trio formed the ASI alliance early in March to ensure a decentralized and ethical AI ecosystem.

    The event was to happen on 13 June, but the’s latest post confirmed postponement to 15 July.

    1/ 🚨 Big Update from the Artificial Superintelligence Alliance! The token merger involving #SingularityNET, #FetchAI, and #OceanProtocol has been rescheduled for July 15, 2024, moved from June 13. Let’s dive into what this means and why the change! 👇

    — (@Fetch_ai) June 11, 2024

    Token merger involves complex activities and communication with different third-party players to guarantee a smooth transition.

    The added time will allow the project to seamlessly handle logistical and technical needs involving ecosystem partners, validators, and exchanges.

    FET, OCEAN, and AGIX will trade independently on crypto exchanges until next month.

    However, the assets will merge into an ASI token on 15 July, suspending the independent trading.

    The post Top AI cryptos plunge as Elon Musk’s recent remarks hurt sentiments appeared first on Invezz

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