Crypto AI Economy Suffers $730 Million Loss in 2 Months as Interest Wanes

Less than 2 months ago, a postulation of 74 listed cryptocurrencies centered astir artificial quality (AI) amassed an awesome $4 cardinal valuation. However, the intervening weeks person seen a crisp diminution successful crypto-AI system gains, with losses of $730 million. The 3 astir salient AI-driven crypto projects person each suffered double-digit losses, ranging from 10% to 29.58%, against the U.S. dollar implicit the past 30 days.

Interest successful the Combination of Crypto and Artificial Intelligence Has Declined, Crypto-AI Token Economy Sheds $730M

Various information points suggest that involvement successful and worth of crypto-AI projects has waned. Global hunt trends for “crypto ai” peaked successful aboriginal February 2023, with a Google Trends’ people of 100. Despite the rise, implicit the past 90 days, the people has slumped to a debased of 22. Slovenia, the Netherlands, Cyprus, Lebanon, and Nigeria marque up the apical 5 countries funny successful “crypto ai” searches astatine present.

Global hunt trends according to Google for the word “crypto ai” betwixt Jan. 22, 2023, to April 18, 2023.

In February, the corporate crypto AI system reached a $4 cardinal milestone, driven by awesome gains among apical AI-focused cryptocurrencies pursuing a multibillion-dollar investment by Microsoft successful Openai, the creators of Chatgpt. However, the crypto AI assemblage has since incurred important losses. Current data from cryptoslate.com indicates that $730 cardinal has been wiped disconnected the crypto AI token economy.

The crypto plus singularitynet (AGIX) mislaid 29.58% successful 30 days and 21.51% this past week.

The largest crypto AI plus by marketplace capitalization, graph (GRT), has suffered a nonaccomplishment of 10.71% successful the past month. The 2nd largest AI-centric crypto asset, singularitynet (AGIX), has fared worse, down 29.58% successful the aforesaid period. Fetch (FET), the 3rd largest crypto AI token, has seen a 14.36% driblet successful worth implicit the past 30 days. Most of these losses occurred during the past 7 days of trading, coinciding with a wide downturn successful the broader crypto market.

Overall, the crypto tokens associated with artificial quality person declined by 7.38%. The past week has been peculiarly rough, with a driblet of 15.70% recorded. Currently, the 24-hour planetary commercialized measurement for the crypto AI assemblage stands astatine $325.58 million. Interestingly, the cannabis-focused crypto assemblage is presently the apical performer, having gained 3.89% against the greenback successful the past week, according to information from cryptoslate.com.

What bash you deliberation the aboriginal holds for the intersection of AI and cryptocurrency? Why bash you deliberation involvement successful crypto-ai projects is waning? Share your thoughts astir this taxable successful the comments conception below.

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