AI Crypto Projects Experience Trading Volume Dip Following Earlier Buzz, Reveals Market Data Firm
According to market data firm Kaiko, artificial intelligence (AI)-focused crypto projects are experiencing a decrease in trading volume after generating significant buzz earlier this year.
Tokens like Oasis Network (ROSE), Render (RNDR), and The Graph (GRT) have recently lost momentum, registering their lowest weekly trade volume since January. The decline in volume comes after a period of excitement triggered by rumors of tech giant Microsoft potentially investing $10 billion into Open AI, an AI research laboratory behind the popular AI chatbot ChatGPT. At that time, AI-focused crypto projects like SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) witnessed substantial gains. Meanwhile, Worldcoin (WLD), a project co-founded by OpenAI’s Sam Altman, recently had a “unique” launch, attracting interest with its eye-scanning technology.
However, the project is under investigation in the UK and France over privacy concerns. Kaiko also highlights XRP, which experienced a landmark ruling in its favor against the SEC, indicating sustained speculative interest. Lastly, both Bitcoin (BTC) and Ethereum (ETH) have seen a significant decline in volatility over the last three months, with their levels currently hovering around two-year lows.
Clever Robot News Desk 31th July 2023
