The news of firing and rehiring Sam Altman, CEO of OpenAI, the company behind the artificial intelligence (AI) program that created ChatGPT, caused shockwaves this last week, leading to surges and dips in both the stock market and the cryptocurrency world.
Several crypto assets experienced notable gains in the period when the saga of Altman’s job status was unfolding, according to a post by CoinGecko on X on November 23.
The crypto data platform noted that:“Akash Network (AKT) took the lead, soaring by 61.1% from $1.02 to $1.65 on Nov 23, 2023. It peaked at 80.4% on Nov 20, reaching $1.85.”
Biggest gainers during Altman’s firing and rehiring by OpenAI. Source: CoinGecko
Notably, on November 20, 2023, 9 out of 11 AI tokens experienced their peak, with gains ranging from 19.3% to 80.4%. This surge occurred shortly after Microsoft’s (NASDAQ: MSFT) announcement that Altman, Brockman, and their colleagues would be joining to spearhead a new AI research team.
Biggest gainers during Altman’s saga
The surge in AI token prices occurred amid expectations of spot Bitcoin (BTC) exchange-traded fund (ETF) approval. The market’s attention was additionally captivated by OpenAI’s decision to terminate and rehire Sam Altman, contributing to the ongoing rally of AI tokens.
Chronology of gains made during Altman’s job saga. Source: CoinGecko
Akash Network (AKT) emerged as the top performer following OpenAI’s announcement of Sam Altman’s termination on November 17, 2023, experiencing a 61.1% increase from $1.02 to $1.65 by November 23, 2023. Its peak occurred on November 20, reaching an 80.4% surge with a price of $1.85.
OriginTrail (TRAC) secured the second position, with a 45.8% gain from $0.26 to $0.38 during the same timeframe. It reached its highest point, a 50.9% increase, on November 20, at $0.40.
Bittensor (TAO) is closely following as the third most significant gainer, registering a 33.9% increase from $171.87 to $230.15. Its peak, a substantial 71.3% rise, occurred on November 20, when its price reached $294.39.
On November 22, 2023, two of the eleven AI tokens peaked, showcasing gains ranging from 26.4% to 50.9%. This surge occurred shortly after OpenAI’s announcement of Altman’s return as CEO. Worldcoin (WLD), founded by Sam Altman, and OriginTrail (TRAC) were the tokens that experienced peak gains following this significant announcement.
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