AI Token Surges 47%, Pipping Bitcoin, Ethereum Gains As Analyst Points To Keyword Stuffing Behind Pump

Indexing protocol The Graph’s GRT token GRT/USD is up over 47%, outperforming Bitcoin BTC/USD and Ethereum ETH/USD gains.

What Happened: GRT token surpassed a $1 billion market capitalization on Sunday, according to data from CoinMarketCap. 

At the time of writing, GRT was trading at $0.2066. AI token SingularityNET AGIX/USD was up 14.55%, while Fetch.AI rose 14.09% in the last 24 hours.

The rally came after Alphabet Inc.’s Google GOOGL reportedly said it invested nearly $400 million in artificial intelligence startup Anthropic AI, which is testing a rival to OpenAI’s ChatGPT.

See More: Top Indian Apps That Give Bitcoin, NFT Rewards 

Crypto analyst ‘Smart Contracter’ cautioned his 220,200 followers that at this stage, many projects are slipping the word AI into their website and receiving a 100% pump.

at this stage every project slip the word AI into their website in some word salad sentence that makes no sense to get a 100% pump

— Bluntz (@SmartContracter) February 7, 2023

Price Action: BTC was trading at $23,277 up 1.70%. ETH at $1,679 up 3%  in the last 24 hours, according to Benzinga Pro.

Read Next: Bitcoin, Ethereum, Dogecoin Soar On Hopes Of Fed Dovishness: Analyst Says $30K Is 'Still A Magnet' For Apex Crypto