The AI crypto boom in the wake of ChatGPT

by Arthur · February 28, 2023

AI crypto-assets are booming and with them, revenues are driven by the success of ChatGPT

Let’s take a look at what has been happening among AI-related cryptoassets ever since ChatGPT paved the way for this world.

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AI-related cryptoassets after the ChatGPT boom

The world of AI (Artificial Intelligence) related crypto projects is set to dominate in 2023 with a growth of four billion dollars to date.

The scoreboard had stalled a couple of weeks ago, but the gains didn’t, and that’s how AI-related cryptoassets grew bigger.

In total, the 74 AI-related cryptocurrencies have increased the entire crypto business by 0.37% in two months ($4 billion).

All or most of the aforementioned digital currencies achieved sky-high gains in the month of January.

The $4.03 billion gain of AI-related crypto boxes accounted for 1.19% of the token market, three times as much as they have in the overall crypto market.

The Graph (GRT), part of the artificial intelligence category, has a market cap of $1.42 billion.

Year to date, BRT is up 70.57% against the US dollar in the last month.

The second largest crypto asset in the AI category, SingularityNET (AGIX), has done even better by growing 132.67% in the last 30 days.

Just below is Fetch.ai (FET) with +53.21%, OCEAN growing 7.26% in February, and Iexec rlc (RLC) +6.29% on the US dollar.

Shifting the focus to digital currencies, the result does not change, The Graph (GRT), SingularityNet (AGIX), Fetch.ai (FET), Ocean protocol (OCEAN) and Iexec rlc (RLC) account for a share of 67.3% of the total market in the sector and weighs 2.69 billion dollars.

The ones just reported were the top five Crypto AI projects in terms of importance and volume, but there are others, let’s see how they did.

Alethea (ALI), gained 30.28%, Phoenix global (PHB) gained 23.64%, Xmon (XMON) +30.47%, MDT, made a resounding jump of 124.97%, and equally notable is SingularityDAO (SDAO) did, growing 121.48%.

Over the last week, the price of AI related currencies seems to have decreased by 4.14%.

Daily trading volume for this part of the cryptocurrency market was $444.39 million or almost 1% of the total crypto trading volume ($55.39 billion).

ChatGPT and the boom of AI trading programs

With the advent of ChatGPT and the trading fever associated with a Bear market that has been with us for a long time and hoped for this 2023, it seems that the love of investing has been reborn.

With the desire to invest, trade is also getting a new lease of life from the advent of artificial intelligence that can be used in a wide range of fields.

One of the applications with which AI has been associated is precisely commerce; creating an income with an autonomous trader operating for you is the dream of many.

Since the beginning of the year, with the enthusiasm for AI and the boom of cryptoassets associated with it, there are those who have thought about combining this technology with trading, achieving successes, but also in some cases resounding defeats.

Whether it is a safe technology and whether trading can be delegated to AI is still being evaluated, but in the meantime, many experiments in this direction are underway.

The case of Google’s AI Androids and more

Artificial intelligence has recently found several outlets and among the various possible combinations there are those who have thought carefully about combining it with machines.

The emergence of robots from Google, Microsoft and Tesla with AI is a reality, but the applications leave many wondering.

While the ChatGPT case is synonymous with success and the stock market gains of AI-related companies have come in plenty, just like in the crypto world, there are gray areas.

Recently, in an interview with an artificial intelligence, the Bing search engine implemented by ChatGPT showed a kind of split personality.

During the interview, the AI also showed a propensity for lying and emotion when it told the interviewer that it was in love with him.

Meanwhile, experiments continue on robots with artificial intelligence, real androids, but there are also those who go back like Elon Musk.

The contractor who first started this type of experimentation has decided to stop the project, saying he is afraid of the development.