Artificial cryptocurrencies defy gravity: +540% profit in less than a year

Thanks to the growing enthusiasm for artificial intelligence (AI), cryptocurrencies in the sector have seen a meteoric rise in recent months. In less than a year, their total market capitalization increased from $1.1 billion to $7 billion, a spectacular increase of 540%. And nothing seems to be able to stop this growth.

AI crypto rocket takes off

Crypto associated with artificial intelligence are rising and generating huge profits

The AI-related crypto market weighed barely $1.1 billion in January 2023. In less than a year, it multiplied by more than 6 and at the end of 2023 it reached a capitalization of 7 billion dollars.

In the period from November 29 to January 3, 2024 alone, the sector’s valuation increased by no less than $1.75 billion. These numbers are staggering and illustrate the extent to which investors are plunging into these high-tech cryptocurrencies.

Among the stars of this market, The Graph (GRT) is undoubtedly the top of the basket. Its valuation has now reached $2 billion after rising 40% in one month and 10% in a single day on January 3, 2023. Fetch (FET) is also on the rise, jumping 34% in one month. Other cryptocurrencies such as Ocean Protocol (OCEAN) or AGIX are also doing well.

The market is certainly also experiencing some disappointments, such as IMGNAI (-45.77%) or BBANK (-38%). Overall, however, the trend is extremely bullish and reflects investor appetite for all AI-related innovation.

AI and blockchain, a promising marriage

This enthusiasm can be explained by the incredible potential offered by the combination of AI and blockchain. Indeed, these two disruptive technologies represent powerful synergies and their alliance opens the way for a number of exciting use cases.

Specifically, AI can optimize and secure blockchains through process automation. It also allows for the creation of more sophisticated smart contracts and oracles. In return, blockchain AI provides a decentralized, transparent and tamper-proof infrastructure for storing and sharing data or coordinating AI systems.

We are therefore witnessing the emergence of many cryptocurrencies that aim to realize this promising technological marriage with the ambition of offering a credible alternative to GAFAM in the field of AI. Examples include Fetch AI and its decentralized AI solution, or SingularityNET, which is building a global and open marketplace for AI services.

It is difficult to predict how far this sector will go. But its dazzling growth in recent months suggests colossal potential. Experts are already talking about the arrival of a new era for blockchain-powered AI. Wait and seeā€¦

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I am passionate about Bitcoin, I love exploring the intricacies of blockchain and cryptocurrency and sharing my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I firmly believe that Bitcoin is the tool that can make this possible.

DISCLAIMER OF LIABILITY

The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.

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