The Reasons Why AI Token Crypto Skyrocketed 257% Since Early 2024
CoinGecko investigates the recent surge in interest in artificial intelligence (AI)-based crypto tokens. CoinGecko highlights that the AI-based token has seen an impressive increase of 257% since the start of 2024.
The leading token in this surge is Bittensor $TAO which had the highest market cap in the sector at $3.85 billion on February 29. However, the latest data shows that Bittensor's market capitalization has exceeded $4.4 billion.
Most Profitable AI Token
According to CoinGecko, Nosana experienced the most significant price increase among AI tokens in 2024. The asset jumped 987.9% from $0.56 to $6.01 within two months.
Following behind, $DeepFakeAI (FAKEAI) observed a remarkable increase of 628.6%, rising from $0.0008 to $0.0069. Synesis One (SNS) secured third place, seeing an increase of 595.4% from $0.016 at the start of the year to $0.108.
Significantly, CoinGecko researchers observed that the enthusiasm around AI tokens gained momentum after the launch of OpenAI's ChatGPT in late 2022. They highlighted that artificial intelligence continues to attract huge attention, leading to soaring valuations in the market.
The research study conducted examined the market capitalization, and price returns of 15 Artificial Intelligence (AI) crypto coins.
The 15 AI crypto coins examined are: Bittensor, Render $RENDER , Fetch.ai, $Akash Network, SingularityNET , Ocean Protocol, OriginTrail, Nosana, $Autonolas, DeepFakeAI, HyperGPT, Synesis One, $Bostrom, PaLM AI, and $Kizuna. Crypto AI coins are selected from CoinGecko's AI category.
