Apple's WWDC Disappoints, Drags Down AI Crypto Prices

Investors in AI-linked cryptocurrencies saw losses after Apple’s annual developer conference failed to deliver the anticipated AI buzz. Tokens connected to projects like Render, Fetch.ai, and SingularityNET dropped between 3% and 5% in the last day, even as the broader crypto market remained flat. This slump occurred despite anticipation that Apple (AAPL) would unveil groundbreaking […]

The post Apple’s WWDC Disappoints, Drags Down AI Crypto Prices appeared first on Coin Edition.

Apple's WWDC Disappoints, Drags Down AI Crypto Prices

  • AI announcements at WWDC2024 failed to impress investors.
  • Tokens linked to Render, Fetch.ai etc. dropped 3-5% despite flat crypto market.
  • AI crypto index underperformed, Apple stock price fell. 

Investors in AI-linked cryptocurrencies saw losses after Apple’s annual developer conference failed to deliver the anticipated AI buzz. Tokens connected to projects like Render, Fetch.ai, and SingularityNET dropped between 3% and 5% in the last day, even as the broader crypto market remained flat.

This slump occurred despite anticipation that Apple (AAPL) would unveil groundbreaking AI advancements at the Worldwide Developers Conference (WWDC2024). While the tech giant did announce “Apple Intelligence,” a suite of AI features for its devices, and a partnership to integrate OpenAI’s ChatGPT, these announcements underwhelmed investors. Analysts speculate investors were looking for details on how Apple planned to leverage AI for transformative features or entirely new product categories.



The disappointment extended beyond individual tokens. The CoinDesk Computing Index, which tracks AI-related cryptocurren…

The post Apple’s WWDC Disappoints, Drags Down AI Crypto Prices appeared first on Coin Edition.