The runaway success of ChatGPT, developed by OpenAI, has created an exceptional buzz around artificial intelligence (AI). As a result, cryptocurrencies related to this field of activity have exploded. Here’s a look at some of the projects that have benefited from this trend
FET, AGIX, ORAI, AIRI… Staggering rises
Since the beginning of 2023, a trend has been driving the cryptocurrency world: artificial intelligence (AI). Aided by a bullish Bitcoin (BTC), tokens in this field have 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 for artificial intelligence algorithms. The price of its AGIX token exploded by 131.5% in the space of 7 days. In 30 days, it has even multiplied by about 8, reaching the 93rd rank of the most capitalised cryptocurrencies.
The performance is similar for the main tokens in this sector. In one month, Fetch.ai’s FET climbed 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 over a week:
4 out of 5 AI-related cryptocurrencies trending today on Coingecko
Obviously exceptional performances, but which question investors. Is this a short-lived euphoria or the beginning of a long-term trend? Could it be that the AI field is a narrative for the next cryptocurrency rally? Hard to predict, but vigilance is more important than ever.
AI, the trend of 2023?
The world has been talking about it for a few weeks and you certainly haven’t missed this trend: ChatGPT. Launched in November 2022, this conversational robot launched by OpenAI has even surpassed 100 million users in January 2023, a record of precocity.
What is hidden under the bonnet is artificial intelligence technology. More precisely, it is reinforcement learning. This means that the robot trains itself and progresses as it works. What does this have to do with the world of cryptocurrencies, you might ask?
Simply because the meteoric adoption of ChatGPT has been the catalyst for this equally exceptional propulsion of projects in our industry offering solutions around AI.
At the time of writing, the artificial intelligence market in cryptocurrencies is worth around $1.75 billion. Except for SingularityNET’s AGIX and Fetch.ai’s FET, all of the assets in this category are outside of the top 100 most capitalised cryptocurrencies.
Key statistics of the AI category of the cryptocurrency market according to Coingecko
