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Decoding AI Cryptos – All hype or is it the next big thing?  

3min Read
Decoding AI Cryptos - All hype or is it the next big thing?  

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  • AI cryptos registered up to 16 times growth in the past few months.
  • Most of the AI cryptos’ charts were green despite the ongoing bearish market conditions.

Artificial Intelligence (AI) cryptocurrencies have become a hot topic in the crypto space lately. The AI cryptos have been outperforming the cryptos of other segments by a massive margin over the last few weeks.

According to CoinGecko data, AI tokens increased in value by up to 16 times between November 2022 and February 2023, which was commendable.

To clear the air, AI cryptos are the projects that have emerged in recent times with the motive of merging AI with blockchain technology.

Though the broad goal remained to connect both technologies, each project operates in different fields such as finance, gaming, et al. 


How much are 1,10,100 FETs worth today?


What’s all the hype about?

Interestingly, blockchain projects expressed their interest in AI technology. For instance, TRON [TRX] recently announced the establishment of a new $100 million AI development fund to facilitate the integration of AI and blockchain technologies. 

AI cryptos gained popularity recently, and much of the hype surrounding them can be attributed to ChatGPT and BARD, which stormed the internet as people across the globe were stunned by their capabilities.

Among all the AI cryptos, FETCH [FET] was one of the tokens that registered a price increase of 114% in the last 30 days.

The AI token’s popularity was evident from its statistics, as its social dominance shot up by more than 155%. Bullish sentiments around FET also registered a massive uptick, increasing by 157.4%. 

According to CoinMarketCap, FET was trading 22% higher than the last week, and at the time of writing, it was valued at $0.4123 with a market capitalization of over $337 million.

It also managed to enter the top 100 list in terms of market cap recently, but it slipped off the list later. 


Realistic or not, here’s FET market cap in BTC’s terms


AI Cryptos are here to stay?

While many may think that the hype around AI crypto is a short-term episode and will fade away soon, the reality might be different.

With the influx of several new projects and the increased interest in blockchains AI technology, it seems likely for AI tokens to become more mainstream in the coming months. For an in-depth look at some of the top AI crypto projects currently shaping the market, consider exploring our detailed review.

Though AI cryptos’ massive gains appeared to have slowed down, their charts, however, remained green.

According to CoinMarketCap, most of the AI tokens managed to register gains even in the bearish market.

Therefore, considering all the factors, it is very likely that AI cryptos will get more attention from the industry over the coming days as the world continues to make breakthroughs in the fields of AI and blockchain. 

Source: CoinMarketCap

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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