AI Cryptos Defy Gravity: +540% Gains in Less Than a Year

Driven by the growing enthusiasm for artificial intelligence (AI), the cryptocurrencies from this sector have experienced a meteoric rise in recent months. In less than a year, their global market capitalization has jumped from 1.1 billion to 7 billion dollars, a spectacular increase of 540%. And nothing seems to be able to stop this surge.

AI-related cryptos soar, generating massive gains

The crypto market related to AI barely weighed 1.1 billion dollars in January 2023. In less than a year, it has increased by more than 6 times, reaching a capitalization of 7 billion dollars by the end of 2023.

From November 29 to January 3, 2024, no less than 1.75 billion dollars have swelled the valuation of this sector. These figures are dizzying and illustrate just how much investors are rushing into these high-tech cryptos.

Among the stars of this market, The Graph (GRT) undoubtedly tops the list. Its valuation has now reached 2 billion dollars after a 40% increase in one month and 10% on January 3, 2023 alone. Fetch.AI (FET) is also gaining momentum with a jump of 34% over one month. Other cryptos such as Ocean Protocol (OCEAN) and AGIX are also performing excellently.

Of course, the market has also had some setbacks, such as IMGNAI (-45.77%) or BBANK (-38%). But overall, the trend is extremely bullish and echoes investors’ appetite for all innovations related to AI.

AI and blockchain, a promising marriage

This enthusiasm is explained by the incredible potential offered by the coupling of AI and blockchain. These two disruptive technologies indeed have strong synergies and their alliance paves the way for a host of exciting use cases.

Specifically, AI can optimize and secure blockchains through process automation. It also allows the creation of more sophisticated smart contracts and oracles. In return, the blockchain provides AI with a decentralized, transparent, and tamper-proof infrastructure for data storage and sharing or the coordination of AI systems.

Therefore, we are witnessing the emergence of numerous cryptocurrencies aiming to realize this promising technological marriage, with the ambition of offering a credible alternative to the GAFAM in the AI domain. Examples include Fetch.AI and its decentralized AI solution, or SingularityNET, which is building a global and open market for AI services.

It’s difficult to predict how far this sector can go. But its rapid growth over the past few months suggests colossal potential. Experts are already talking about the dawn of a new era for AI powered by blockchain. Wait and see…