Last news
The Value of AI Cryptocurrencies Continues to See Steady Growth

The Value of AI Cryptocurrencies Continues to See Steady Growth


Over the past 30 days, AI-focused crypto assets have continued to see gains following a brief downturn in mid-February 2023. With 74 listed AI-focused cryptocurrencies, the net value of all these tokens has surpassed $4 billion, accounting for 0.37% of the entire crypto economy's value

The rise in value of AI cryptocurrencies has been largely driven by increased development in the sector, sparked by the initial success of the text-based platform ChatGPT. This has resulted in an inflow of capital into cryptocurrencies associated with artificial intelligence.

Data from Crypto Slate shows that as of March 1, the market cap for AI-centered digital assets had surpassed $4 billion, making up 0.37% of the entire crypto economy's value and 1.19% of the smart contract token market. The majority of the 74 listed AI-focused cryptocurrencies have experienced positive gains in the last month. The largest AI-focused digital currency is currently Graph (GRT), with a market valuation of approximately $1.42 billion. Other high-ranking AI cryptocurrencies include SingularityNET's native token AGIX ($611.59 million) and Fetch.ai's FET token ($371.89 million).

While AI cryptocurrencies have seen significant growth, some analysts remain skeptical about their overall potential. Success in the sector is tied to future developments in the world of AI.

Investor interest, potential, and hype are driving growth opportunities around AI, and the sector is seeing the emergence of innovative and compelling use cases highlighted by ChatGPT. However, the trajectory of the tokens' prices will rely on overall market sentiments. Notably, the crypto market rally in 2023 has slowed down as the sector battles fresh macroeconomic concerns.

Subscribe to Cryptonica.News
on social networks

The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.

How useful is this article for you?
Thank you for your review!

Last news


How to Buy Cryptocurrency?
How to Buy Bitcoin on eToro