AI cryptocurrencies soar after Elon Musk launches ChatGPT rival

In the wake of Elon Musk's groundbreaking announcement about his new artificial intelligence (AI) company, designed to rival the remarkable growth of OpenAI's chatbot ChatGPT, AI-related cryptocurrencies experienced a noteworthy surge in value within a 24-hour span.

Timeline of , Covalent, Fetch, The-graph, Quant

Recently, the Quant Network company launched its own platform called Overledger, which is used in the Bank of England's CBDC project and the Bank for International Settlements' Rosalind Project.

The native currency of Quant, a blockchain platform that helps financial institutions incorporate digital currencies into their businesses, on June 15 soared 20% following its partnership announcement with the Bank of England for Project Rosalind. Quant Collaborates With BIS And The Bank Of England Project Rosalind is a central bank digital currency (CBDC) initiative, led by the Bank for International Settlements (BIS) and the Bank of England.

London-based enterprise blockchain solutions provider Quant has revealed its groundbreaking partnership with the Bank of England and the Bank for International Settlements (BIS) in their joint venture, the Rosalind project. The initiative aims to explore the potential of APIs for the development of CBDC systems.

We continue with our column related to prices and news of the crypto world, in particular today we will focus on three interesting projects, which we have discussed before: Stellar (XLM), Quant (QNT) and Shiba Inu (SHIB).

Quant (QNT), an Ethereum-based token, has experienced a 15.15% increase in its price over the past seven days. QNT plays a vital role in Quant Network's Overledger, a suite of enterprise software solutions designed to connect public blockchains and private networks seamlessly.

Binance, one of the world's largest cryptocurrency exchanges, has recently announced its support for the upcoming network upgrades of Fetch.ai (FET) and Terra Classic (LUNA). This move aims to enhance the functionality and performance of these blockchain projects, providing users with improved features and capabilities.

It is worth mentioning that Daex (DAX) is a decentralized exchange that allows users to trade cryptocurrencies and tokens. The platform, in particular, offers a wide range of features, including margin trading and customer support.

Quant may derive significant growth from supporting governments' CBDC developments. As such, its native cryptocurrency QNT might benefit although this will likely be in the long-term.

Bitget, a cryptocurrency derivatives exchange, has pledged $10 million towards the development of the Fetch.ai ecosystem. Fetch.ai provides infrastructure for autonomous services and features an AI agent network and smart wallet.

Bitcoin's market dominance has been slowly decreasing, paving the way for the growth of alternative cryptocurrencies. This trend is further supported by the emergence of new meme coins like $PEPE, which are attracting more and more investors.