Crypto: Here's How Apple Destroys AI-Linked Tokens!

On June 10, 2024, Apple's annual developer event took an unexpected turn for the crypto world. Highly anticipated AI announcements, including the integration of ChatGPT, have left investors unmoved. As a result, AI-related cryptocurrencies have suffered a precipitous fall, demonstrating the complex relationship between traditional tech and crypto.

Apple Intelligence: A disappointment for crypto investors

Apple has revealed its personal intelligence system, Apple Intelligence, promising an integration of powerful generative models with personal context. However, this announcement did not appeal to investors. Indeed, Apple shares fell almost 2%. In turn, cryptos linked to AI felt the shock wave.

Native tokens of Render (RNDR), Fetch.ai (FET), and SingularityNET (AGIX) plunged 3% to 5%. Additionally, the Bittensor (TAO) token fell by almost 6%. This reaction demonstrates the sensitivity of the crypto market to the technological advances of giants like Apple.

ChatGPT integration: A dead end?

Also disappointing was the announcement of Apple partnering with OpenAI to bring ChatGPT into iOS, iPadOS and macOS. Despite the revolutionary potential of this integration, cryptos have not reacted positively. Near Protocol (NEAR), an AI-focused blockchain network, fell 3.2%.

This decline highlights a disconnect between enthusiasm for AI in traditional tech and its impact on the crypto market. Furthermore, confirmation of the partnership by Greg Brockman, co-founder of OpenAI, has failed to reverse the trend.

Hope for AI cryptos?

Despite the fall, crypto history shows resilience in the face of technological shocks. In 2022-2023, skeptics predicted the end of cryptos with AI. However, Render and Fetch.ai have been able to adapt.

Additionally, the gradual deployment of Apple Intelligence through 2025 provides an opportunity. Bittensor could refine its decentralized AI to complement Apple's. Render could optimize its graphics rendering for future Apple users. This potential synergy between AI cryptos and tech giants gives hope for a rebound in tokens.

AI cryptos' reaction to the Apple event reveals the complexity of their relationship with traditional tech. The fall of tokens like Render, Fetch.ai, and Bittensor shows that even major announcements can disappoint. However, the 2025 timeline for full deployment of Apple Intelligence and ChatGPT offers hope for a brighter future for AI cryptos, provided they prove their value in this evolving ecosystem.