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AI-based cryptocurrencies Bittensor (TAO) and Fetch.ai (FET) have been predicted by OpenAI's chatbot, ChatGPT, to be the top performers in the sector this year. TAO, with its surging market cap and strong growth potential, is a key contender. The asset has seen a 725% increase since May 2023, despite a significant retracement from its all-time high of over $720 in March this year. FET, the second-largest AI cryptocurrency with a market cap of around $5.7 billion, was also highlighted due to its advanced technology and broad applicability in industries like supply chain optimization and smart cities. Other AI cryptocurrencies such as Render (RNDR), SingularityNET (AGIX), and Ocean Protocol (OCEAN) were also mentioned as potential top performers. Interestingly, the current leader in AI cryptocurrency, Internet Computer (ICP), was not included in ChatGPT's ranking. The chatbot suggested that ICP could maintain its leadership if it effectively integrates AI functionalities and tools, making it more attractive to developers and companies. It also noted that investment levels and regulatory changes could significantly impact ICP's performance.

AI-based cryptocurrencies Bittensor (TAO) and Fetch.ai (FET) have been predicted by OpenAI's chatbot, ChatGPT, to be the top performers in the sector this year. TAO, with its surging market cap and strong growth potential, is a key contender. The asset has seen a 725% increase since May 2023, despite a significant retracement from its all-time high of over $720 in March this year.

FET, the second-largest AI cryptocurrency with a market cap of around $5.7 billion, was also highlighted due to its advanced technology and broad applicability in industries like supply chain optimization and smart cities. Other AI cryptocurrencies such as Render (RNDR), SingularityNET (AGIX), and Ocean Protocol (OCEAN) were also mentioned as potential top performers.

Interestingly, the current leader in AI cryptocurrency, Internet Computer (ICP), was not included in ChatGPT's ranking. The chatbot suggested that ICP could maintain its leadership if it effectively integrates AI functionalities and tools, making it more attractive to developers and companies. It also noted that investment levels and regulatory changes could significantly impact ICP's performance.

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In a recent analysis, over 80% of newly listed cryptocurrencies on Binance, the world's largest digital asset exchange, have seen a decline in value. This trend has raised concerns for investors seeking to invest in the latest digital assets. Out of 31 tokens analyzed, only five appreciated in value, including the Ordi token (ORDI) and the meme coin Dogwifhat (WIF). Despite lacking venture capitalist backing, ORDI was the most profitable, with a 261% increase since its launch. Most new Binance listings are backed by top-tier venture capitalists and launch at inflated valuations, often lacking real users or a strong community. The average fully diluted valuation (FDV) on the Binance listing date exceeds $4.2 billion. Crypto researcher Flow suggests that many tokens launching on Binance are not viable investment vehicles, as their upside potential is already exhausted. Instead, they serve as exit liquidity for insiders exploiting retail investors' limited access to early investment opportunities. Flow also criticized the current market dynamics, noting that many tokens are designed to pump and then dump due to short vesting schedules, fake metrics, and a focus on hype rather than user acquisition. Despite these concerns, the potential of DeFi and BRC 20 tokens remains promising, with a need for a new approach to token launches. Lower FDVs could benefit secondary market traders and generate momentum and interest. The crypto industry continues to evolve, and while there are challenges, the future is optimistic.
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