A recent report from Binance Research reveals that blockchain tokens associated with artificial intelligence (AI) experienced substantial gains in the three months leading up to January 2nd.
These AI tokens ranked as the second-best performing category, excluding memecoins, following Ethereum layer 2 tokens. When memecoins were included, AI tokens still secured the third position in terms of performance. The data for this report was sourced from a Dune Analytics dashboard provided by @Cryptokoryo_research.
The report identified six coins as “AI tokens,” including SingularityNET (AGIX), Cortex (CTXC), Fetch (FET), Ocean Protocol (OCEAN), Oraichain (ORAI), and Render (RNDR). Collectively, these tokens recorded a remarkable 185% increase in price over the three-month period.
Comparatively, other categories of tokens also experienced notable gains over the same period:
DeFi 2.0 tokens: 87% increase
GameFi tokens: 109% increase
Real World Asset (RWA) tokens: 145% increase
Layer-2 tokens: 221% increase (the top-performing category)
The researchers excluded memecoins from their analysis, asserting that these coins often exhibited disproportionately large percentage performance gains due to their lower market capitalization.
Furthermore, AI tokens outperformed major cryptocurrencies like Bitcoin and Ethereum over the course of the year. Bitcoin ended the year with a 150% gain, while Ethereum saw a 44% increase. In contrast, the one-year performance of AI tokens varied from 200% to as high as 650%.
Among the AI tokens, Fetch emerged as the top performer in 2023 with a staggering 659% price increase. Fetch operates a blockchain network that runs AI programs known as “Agents” and features an AI services marketplace.
SingularityNET secured the second-highest return, with a 616% gain for the year. SingularityNET offers an AI services marketplace on the Ethereum network, with plans to expand to other networks in the future. Other notable AI tokens with substantial gains included Ocean Protocol (215% increase) and Bittensor (TAO) with a 191% gain.
Some experts predict that blockchain-based decentralized physical infrastructure networks (DePIN) and AI will form a potent combination in 2024.
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