This AI Crypto Won't Stop Surging, Up Another 19% Today
It's been an absolutely incredible ride for many artificial intelligence (AI) stocks, so much so that various AI-related cryptocurrencies aren't being ignored by many investors. One of the top-performing cryptos in this regard is once again The Graph (CRYPTO: GRT), which has surged 19% over the past 24 hours as of 2:30 p.m. ET.
This move comes as The Graph receives increased attention tied to its data indexing protocol, which allows for decentralized search and various utility-generating capabilities on the blockchain. Often viewed as the "Google (part of Alphabet) of blockchain," The Graph's functionality, which allows for APIs called subGraphs to allow for easier and more seamless development of DeFi applications, provides the building blocks for a range of AI applications to be built. Hence, this project appears to be viewed by many investors as a behind-the-scenes way to play this growth rally in this pocket of the crypto market.
The reality is that there are few options to choose from when it comes to artificial intelligence-related crypto projects. The Graph does provide much of the backend infrastructure to allow for various projects to exist. Thus, this crypto may be viewed as a "pick-and-shovel" play of sorts on the broader AI project space.
Source Fool.com
