AI tokens outpace record-breaking bitcoin
The artificial intelligence (AI) boom has significantly impacted the cryptocurrency market, with coins related to AI-focused crypto projects experiencing substantial growth alongside tech stocks like Nvidia. The market value of these AI crypto tokens has increased from .7 billion to .4 billion within a year, according to CoinGecko data. Some tokens have seen a 145% to 297% increase in the past 30 days. The CoinDesk Indices Computing Index, which includes AI-linked tokens, has surged over 165% in the past 12 months, surpassing bitcoin’s 151% rise. Trading volumes in AI tokens reached an all-time high of .8 billion in late February. Top blockchain projects in this space include the Render Network, Fetch.AI, and SingularityNET. Investment manager VanEck predicts that revenue from AI crypto projects could reach .2 billion by 2030 in their base case scenario, and over billion in their bullish scenario. Blockchain technology is seen as offering real-world value to AI development through crypto tokens as rewards, developing physical computation infrastructure, data verification, and transparency in proving digital ownership.