AI Tokens Surge Over 50% in the Past Week as Sector Heats Up
AI tokens are heating up more than ever, with the top 30 tokens in the sector seeing impressive gains recently.
The AI sector has captured significant attention following the successful launch of ChatGPT by OpenAI in late November 2022, which received a massive $10 billion investment from Microsoft. Alphabet Inc., Google's parent company, has also committed $400 million to ChatGPT competitor Anthropic, sparking speculation about an upcoming “AI war” among Silicon Valley giants.
Let’s dive into some standout AI tokens that have shown remarkable growth recently, according to CoinMarketCap.
The Graph (GRT)
The Graph (GRT) is a leading AI token by market capitalization, valued at over $1.1 billion. Its project, The Graph, aims to be an open-source, decentralized platform known for efficient and reliable data indexing for DeFi applications.
GRT is currently trading around $0.14, marking a 47% increase over the past 7 days and a 93% rise over the last 30 days.
AI SingularityNET (AGIX)
As a competitor to GRT, AI SingularityNET (AGIX) operates on both Ethereum and Cardano and is developed by a team of AI and blockchain experts. The project provides a decentralized platform for AI development.
AGIX has seen an impressive surge of over 490% over the past 30 days and 150% in the past 7 days. It is currently priced at $0.56, up 41% in the last 24 hours.
Fetch.ai (FET)
Fetch.ai (FET) is a token within the Cosmos ecosystem and functions as a layer-1 protocol enabling users to leverage AI-driven automation services.
Riding the market’s bullish trend, FET has surged over 60% and 180% in the past 7 days and 30 days, respectively.
Ocean Protocol (OCEAN)
Ocean Protocol (OCEAN) is a data project based on the idea of providing decentralized data security and storage services. The project gained recognition for its innovation in the data economy and was listed among the World Economic Forum’s data economy innovators.
OCEAN’s price has increased modestly, with an 18% rise over the past 7 days, currently sitting at $0.50.
VAIOT (VAI)
Similar to ChatGPT's integration with Microsoft Teams, VAIOT combines AI and blockchain to create virtual assistants for businesses, offering automated consumer services.
VAI has a relatively small market cap in the AI crypto niche, around $40 million. It is currently trading at $0.20, up about 80% over the past week.
Overall, the future of AI is considered highly promising. According to a recent JP Morgan survey, more than half of 835 institutional investors across 60 global markets believe that AI and machine learning will be the most impactful technologies in the coming years.
However, when asked about cryptocurrency investment plans, nearly 75% of these investors expressed reluctance to participate. This suggests that while AI may deliver real-world value, AI tokens face a different narrative, closely tied to the core values of cryptocurrency.
