- The combined market capitalization of AI-related cryptocurrencies has more than doubled in the past month, reflecting strong interest in AI technology. Several major projects like ICP, TAO, GRT, and FET have seen significant gains recently.
- The growth coincides with major AI developments like Anthropic’s Claude 3 release, as well as increased corporate and government AI spending globally. The overall crypto market uptrend has also boosted AI tokens.
- Worldcoin (WLD) is an exception, falling over the past week due to controversies around AI firm leadership and data collection bans affecting the project.
The combined market capitalization of AI-related cryptocurrencies has more than doubled in the past month, reflecting the world’s fascination with AI technology developments. Overall, the market has jumped about 150% since mid-February according to CryptoSlate data. The sector has also seen strong short-term growth.
Top AI Cryptocurrencies
Several major projects lead the AI crypto sector.
Internet Computer (ICP)
Internet Computer aims to enable decentralized AI through smart contracts. ICP has announced multiple AI initiatives recently, focused on running Large Language Models on-chain. The token has surged over the past week.
Bittensor (TAO)
Bittensor is building a decentralized machine learning network. Despite being early-stage, Bittensor and its native token were acknowledged by Ethereum‘s Vitalik Buterin. TAO has boomed in recent weeks.
The Graph (GRT)
The Graph indexes blockchain data for various applications including AI. The project lowers barriers to AI data access. GRT has soared over the past week.
Fetch.AI (FET)
Fetch.AI provides AI agents and services. It recently announced a large infrastructure expansion. FET rewards for token holders are planned. The token has jumped this week.
SingularityNET (AGIX)
SingularityNET operates an AI services marketplace. Its founder recently keynoted a major AI conference, possibly boosting interest. AGIX has surged in the past week.
Worldcoin (WLD)
Worldcoin is a biometrics ID system that rewards users with crypto. It was affected by recent headlines around AI firm leadership and bans on its data collection. WLD has fallen over the past week.
Other AI Developments
The growth in AI crypto comes alongside major AI releases, like Anthropic’s Claude 3, and increased corporate and government spending on the technology globally. The overall crypto market uptrend has likely also boosted AI tokens.
Conclusion
In summary, the AI crypto sector has seen tremendous growth in recent weeks. The largest projects have produced significant returns during this period. The surge results from a combination of factors like progress in AI, crypto market strength, and hype around high-profile launches.
