Despite the current bearish trend in the crypto market, artificial intelligence (AI) backed tokens have continued to rally upward.
A check by Investors King shows that in the last 30 days, the net value of all AI-backed tokens has risen to more than $4 billion, which represents 0.37% of the entire crypto economy’s value. The rise of AI crypto assets is attributed to the dominance of AI as a theme in 2023, resulting in a surge in the value of AI-focused tokens this year.
According to data from cryptoslate.com, 74 AI-centric digital currencies are now worth $4.03 billion, accounting for 0.37% of the overall crypto market value. The majority of these 74 listed cryptocurrencies associated with artificial intelligence have experienced positive gains in the last month.
The largest of the AI-focused cryptocurrencies, Graph (GRT), with a current market capitalisation of approximately $1.42 billion, has increased 70.57% against the U.S. dollar in the last 30 days. SingularityNet (AGIX), the second-largest AI-centric crypto asset, has also surged 132.67% this month. Other notable gainers in the AI digital currency market this month include Alethea artificial liquid intelligence token (ALI), which increased 30.28%, Xmon (XMON), which jumped 30.47%; Measurable data token (MDT), which spiked 124.97%; and SingularityDao (SDAO), which increased by 121.48%.
Experts have positioned that the advent of artificial intelligence (AI) is the latest technology trend, and it has come with full force while integrating cryptocurrency and has a potential to keep improving with time. The AI space is rapidly growing with the potential to revolutionize the entire world, including our way of living, our work orientation, and the way humans interact. The frenzy which has surrounded the ChatGPT is a pointer that AI is the next big thing.
AI tokens have the potential for sustainable growth and high demand, and experts are already predicting continued expansion for AI tokens. AI is the future of technology, and it has shown its potential to reshape industries across various sectors, including finance, healthcare, and logistics. As more businesses adopt AI technology, the demand for AI-focused tokens is likely to increase, leading to a surge in their value.