Artificial intelligence (AI) cryptocurrencies have recently gained popularity in the cryptocurrency community. Over the previous several weeks, AI cryptos have outperformed other categories’ cryptos by a wide margin.
AI tokens surged in value by up to 16 times between November 2022 and February 2023, according to CoinGecko statistics.
To clarify, AI cryptos are initiatives that have recently surfaced with the goal of combining AI and blockchain technology.
Though the overarching purpose of connecting both technologies remains, each initiative operated in separate industries like as banking, gaming, and so on.
Surprisingly, blockchain projects have showed interest in AI technologies. TRON [TRX], for example, recently announced the creation of a new $100 million AI development fund to aid in the integration of AI and blockchain technology.
AI cryptos have lately acquired popularity, with most of the hoopla being ascribed to ChatGPT and BARD, which flooded the internet as people all over the world were astounded by their capabilities.
FETCH [FET] was one of the tokens with the highest price growth in the previous 30 days among the AI cryptos.
Statistics showed that the AI token was popular, as its social dominance increased by more than 155%. Bullish attitudes for FET also increased dramatically, jumping by 157.4%.
According to CoinMarketCap, FET was trading 22% higher than the previous week, and it was priced at $0.4123 with a market capitalization of nearly $337 million at the time of writing.
It also recently entered the top 100 list in terms of market capitalization, but quickly dropped off.
While many people believe that the hoopla around AI crypto is a passing phase that will pass, the truth may be very different.
With the entrance of multiple new initiatives and the rising interest in blockchain AI technology, AI tokens appear to be on the rise in the next months.
Though the enormous advances in AI cryptos looked to have slowed, their charts stayed green.
According to CoinMarketCap, even in a down market, the majority of AI tokens managed to gain ground.
Considering all of the facts, it is highly possible that AI cryptos will receive increased industry attention in the future days as the globe continues to achieve advancements in the sectors of AI and blockchain.