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Since the launch of OpenAI’s ChatGPT last November, the cryptocurrency market seems to have officially welcomed a new category: AI crypto assets. However, according to price trends, it seems it is now time for discounts.
AI crypto assets and their price trend since the launch of ChatGPT
The launch of OpenAI’s ChatGPT is as if it marked the official start of a new category for cryptocurrencies: AI crypto assets.
Indeed, ChatGPT is not the first one that has been launched but only the one that has sparked the most interest in the crypto-community.
In fact, Tradingbrowser‘s analysis reveals that the high search volume on Google for AI crypto coincides with the launch of ChatGPT. Not only that, last week’s launch of the new ChatGPT 4 model, which can handle images and text simultaneously in a conversation-like manner, also made its mark.
Specifically, Google searches related to the world of AI crypto, have included words such as “AI Coin,” “Fetch AI Crypto,” “AI Crypto Projects,” “AI Crypto Prediction,” and “AI Crypto Token.”
And yet, despite this strong interest, the price of major AI crypto assets has fallen as much as 70%, 80% up to even 95% lower than their all-time high or ATH (All-Time High).
This could allow investors who want to get into the game, to be able to buy AI crypto assets even at a discounted price.
AI crypto assets: The Graph, SingularityNET and many others
Among the top 100 cryptocurrencies by market cap dedicated to the world of artificial intelligence, there are many that have posted significant gains since last November. The Graph (GRT) with a +135% surge, Fetch.ai (FET) with a +407% increase, and Ocean Protocol (OCEAN) with a +200% increase.
Yet, at the time of writing, the current situation does not appear to be the same. Indeed, taking into account the November 2022 price, here is the situation now.
For example, GRT is down 95% from its ATH but retains +135% after November. GRT’s price is now $0.15. SingularityNET (AGIX), too, is down -74% from its all-time high, whereas as of now it appears to have recovered 22% ground since last November.
Following with the ranking, it is easy to see that compared to its all-time high, Fetch.ai (FET) has lost -63% as has Ocean Protocol (OCEAN) which is at -79% from its ATH.
In this regard, Daniel Larsson of Tradingbrowser said:
“AI crypto assets represent an exciting opportunity for investors willing to take a long-term perspective. Even though short-term volatility may be a concern for some, the transformative potential of AI in various sectors makes it an attractive investment opportunity.
Investors willing to do their due diligence and identify promising crypto AI projects may be well positioned to reap significant returns in the years ahead.”
AGIX’s pump from last week
As mentioned earlier, with the release of ChatGPT 4 last week, many AI cryptocurrencies assets seem to have experienced price hikes, such as AGIX’s pump.
And indeed, AGIX went from $0.31 on 12 March to $0.54 on 15 March, touching $0.58 on Saturday, 18 March, making almost 2x in not even a week.
In addition to ChatGPT 4, search engine giant Google has also been talking about AI technology. And indeed, Gmail and Google Docs are expected to be the first in Google’s house to enjoy AI integration.
Naturally, there is also a lot of speculation on the web especially when it comes to emerging topics. And AI crypto is also no exception. In fact, it seems that crypto companies leveraging AI are gradually realizing the complexity there is in combining blockchain and AI.