The dazzling success of ChatGPT, developed by OpenAI, has generated exceptional enthusiasm around artificial intelligence (AI). As a result, cryptocurrencies related to this field of activity have exploded. Overview of the projects that have benefited from this trend.
FET, AGIX, ORAI, AIRI… Amazing increases
Since the beginning of 2023, a trend has been driving the world of cryptocurrencies: artificial intelligence (AI or AI in English). Helped by a resolutely bullish Bitcoin (BTC), tokens in this domain simply outperformed the market. Here is a non-exhaustive list :
- SingularityNET (AGIX);
- Fetch.ia (FET);
- Artificial Liquid Intelligence (ALI);
- Ocean Protocol (OCEAN);
- Oraichain (ORAI).
Take for example the SingularityNET project, a marketplace of artificial intelligence algorithms. The price of its AGIX token exploded by 131.5% in the space of 7 days. In 30 days, this one was even multiplied by about 8thus reaching the 93rd rank of the most capitalized cryptocurrencies.
The performances are similar for the main tokens of this sector. In a month, Fetch.ai’s FET soared by 251%, DeepBrain Chain’s DBC by 528%, Oraichain’s ORAI by 300% and finally aiRight’s AIRI printed 1128%. So much so that AI has been trending on Coingecko for more than a week:
4 out of 5 AI-related cryptocurrencies trending today on Coingecko
Obviously exceptional performances, but which raise questions for investors. Is this a short-lived euphoria or the start of a long-term trend? Could the field of AI be a narrative for the next cryptocurrency bull rally? Difficult to predict, but vigilance is more important than ever.
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AI, the trend of 2023?
The whole world has been talking about it for a few weeks and you have certainly not missed this trend: ChatGPT. Launched in November 2022, this conversational robot launched by OpenAI even surpassed 100 million users in January 2023, a record for earliness.
What is hiding under the hood is precisely an artificial intelligence technology. More specifically, it isreinforcement learning. That is to say, the robot forms and progresses as it works. How does this relate to the world of cryptocurrencies, will you tell me?
Simply because the meteoric adoption of ChatGPT was the catalyst of this equally exceptional propulsion projects in our industry offering solutions around AI.
At the time of writing these lines, the artificial intelligence market in cryptocurrencies is worth around $1.75 billion. With the exception of SingularityNET’s AGIX and Fetch.ai’s FET, all of the assets in this category are outside the top 100 most capitalized cryptocurrencies.
Main statistics of the AI category of the cryptocurrency market according to Coingecko
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Source: Coingecko
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Journalist for Cryptoast, I strive to dissect every detail of the exciting world of cryptocurrencies and make it accessible and understandable to as many people as possible.
Lilian Aliaga
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