AI-Linked Blockchain Tokens Witness Robust Gains, Outperform Major Cryptocurrencies
Summary:
Blockchain tokens linked to artificial intelligence (AI) saw significant gains over the three months to Jan. 2, according to Binance Research. These AI tokens, including SingularityNET (AGIX), Cortex (CTXC), Fetch (FET), Ocean Protocol (OCEAN), Oraichain (ORAI), and Render (RNDR), outperformed major cryptocurrencies, with a varied growth from 200% to as much as 650%. Among these, Fetch had the highest annual increase at 659%. Predictions suggest that blockchain-based decentralized physical infrastructure networks (DePIN) and AI would become a dominant combination in 2024.
As per a study by Binance Research, artificial intelligence (AI) linked blockchain tokens experienced significant growth over the three month period ending January 2. After Ethereum layer 2s, these digital coins logged the highest average sector-wide price boosts, while taking the third spot when meme-based virtual currencies are considered. The data was obtained through a @Cryptokoryo_research’s Dune Analytics dashboard.
Cryptocurrencies associated with AI, including SingularityNET (AGIX), Cortex (CTXC), Fetch (FET), Ocean Protocol (OCEAN), Oraichain (ORAI), and Render (RNDR), are recognized as “AI tokens”. Over the three month time-lapse, these digital currencies appreciated by 185%. In comparison, Decentralized Finance (DeFi) 2.0 tokens appreciated 87%, GameFi rose 109% and Real World Asset (RWA) tokens jumped 145% in value. Only layer-2s saw a greater growth with a 221% increase. Meme-based digital currencies were omitted as their smaller market size led to perceived oversized performance.
AI tokens outdid major cryptocurrencies like Bitcoin (BTC) and Ether (ETH), with annual spectacular improvements of 150% and 44% respectively. According to research, the February-to-January price movement of AI tokens ranged from 200% to a considerable 650%.
Within the realm of AI coins, Fetch made the most headway in 2023, appreciating by a staggering 659% over 12 months. As stated in its outline, Fetch is a blockchain-based framework that facilitates AI programs termed “Agents”, presenting a platform for AI tools. SingularityNET, claiming to house an AI service center on the Ethereum platform with other inclusions planned, ranked second with a 616% annual leap.
Additional AI token victors include Ocean Protocol, which appreciated 215%, and Bittensor (TAO) – posting a 191% gain for the same period. Specialists had previously projected that blockchain-established decentralized physical infrastructure networks (DePIN) coupled with AI shall inaugurate a formidable force in 2024.
Published At
1/10/2024 12:20:00 AM
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