HomeAIThe AI crypto boom in the wake of ChatGPT

The AI crypto boom in the wake of ChatGPT

AI crypto assets are booming, and with them, so are earnings driven by the success of ChatGPT

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

AI-related crypto assets following 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 come to a halt a couple of weeks ago but the gains did not and that is how AI-related crypto assets grew bigger.

In total, the 74 AI-related cryptocurrencies have grown 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 asses accounted for 1.19% of the token market, three times the incidence they have in the overall crypto market.

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

To date GRT is up 70.57% when compared to the US dollar over the past month.

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

Just below are 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), make up a 67.3% share of the total market in the sector and weigh $2.69 billion.

Those 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 noteworthy is what SingularityDAO (SDAO) did, growing 121.48%.

Over the past week the run of AI-related currencies seems to have slowed by 4.14%.

On the daily, the trading volume of this slice 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 hope for this 2023, the love of investing seems to have been reborn.

With the desire to invest, trading also gets new life from the advent of artificial intelligence that can be applied in a wide variety of fields.

One of the applications that AI has been associated with is precisely trading; 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 crypto assets related to it, there are those who have thought of 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 well thought of combining it with machines.

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

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

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

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

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

The entrepreneur who first initiated this kind of experimentation has decided to stop the project stating that he is afraid of the developments.

George Michael Belardinelli
George Michael Belardinelli
A former corporate manager at Carifac Spa and later at Veneto Banca Scpa, blogger and Rhumière, over the years he has become passionate about philosophy and the opportunities that innovation and the media make available to us, in particular the metaverse and augmented reality