These days, apart from platform coins, the performance of knockoff projects in the secondary market has not been good, but on-chain, especially AI agents, are still thriving. The top few virtual assets maintain a FDV of 3.1 billion, Fartcoin and AI16Z also have market capitalizations in the billions, completely unaffected by the market pullback.

Several newly emerging blue chips, such as Game, are being held for value discovery, previously they were benchmarked against agents like AIXBT and Luna, but now Game has directly switched tracks to benchmark against AI16Z, recently surging 3x and its market cap is close to AIXBT, feeling that the ceiling is higher ahead;

Moreover, new contenders in the field are emerging constantly, such as Spore, an AI self-replicating project that has already produced its third generation. The second generation's Adam and Eve have market caps around 5 million, while the third generation's DREAM FDV has soared above 10 million. It is said that there are two in the third generation; DREAM is community-driven, while Squaid is AI-generated genes, with no human involvement. Now it’s a matter of whether AI genes are stronger or human involvement is stronger; currently, it seems that community involvement is stronger. Squaid has already dropped to a market cap of 2 million;

Last night there was also a Golden Dog SVMAI, which is the AI version of Solscan. It’s similar to wanting to check someone’s wallet with one-click AI analysis. It has come out with a very high trading volume, 50 million in 24 hours, and has already increased by over 100 times, but the FDV is only 5 million, this is also worth watching.

Personally, I believe the era of AI agents will last a long time, possibly even longer than this round of the crypto bull market, which is also why I think there will be at least three AI agents with market caps reaching 10 billion in this round.