In less than two months, a collection of 74 listed cryptocurrencies centered around artificial intelligence (AI) has achieved an impressive $4 billion valuation. However, in the intervening weeks, profits in the crypto AI economy plummeted, with losses of $730 million. suffered double-digit losses ranging from 10% to 29.58% against
Crypto AI Token Economy Drops $730 Million as Interest in Combined Crypto and Artificial Intelligence Declines
Various data points suggest that interest and value in crypto AI projects is waning. The global search trend for “crypto ai” peaked in early February 2023 with a Google Trends score of 100. Despite the rise, the score has fallen to a low of 22 over the past 90 days. Slovenia, the Netherlands, Cyprus, Lebanon and Nigeria currently make up the top five countries interested in “crypto ai” searches.
In February, an impressive profit among the top AI-focused cryptocurrencies followed Microsoft’s multi-billion dollar investment in Chatgpt creator Openai, leading to collective crypto AI The economy has reached the $4 billion milestone. But then the crypto AI sector suffered heavy losses. Current data from cryptoslate.com shows that his $730 million has been wiped out of the crypto AI token economy.
Graf (GRT), the largest crypto AI asset by market capitalization, suffered a 10.71% loss last month. The second largest AI-centric crypto asset, SingularityNet (AGIX), fell 29.58% over the same period, making it even worse. Fetch (FET), the third largest crypto AI token, saw a 14.36% decline in value over the past 30 days. Most of these losses occurred in the last seven days of trading, coinciding with a general decline in the broader cryptocurrency market.
Overall, crypto tokens related to artificial intelligence decreased by 7.38%. The past week has been particularly rough, recording a 15.70% decline. Currently, his 24-hour global trading volume in the crypto AI sector is his $325.58 million. Interestingly, data from cryptoslate.com shows that the cannabis-focused crypto sector is currently the best performer in the past week, rising 3.89% against the US dollar.
What do you think the future will look like where AI and cryptocurrencies intersect? Why do you think there is less interest in the crypto-ai project? Share your thoughts on the subject in the comments section below. please give me.
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