Al has taken crypto by storm! But is this the peak?
We've analyzed various metrics and compared the state of crypto Al to the metaverse hype of the last cycle. We've made some insightful observations:
Al currently stands at a $11.7 billion market cap.
It has experienced a major increase in activity over the last month with $WLD leading the growth.
Market capitalization is up 86%, and volume is up 278%!
This hype is driven by companies like OpenAl continuously releasing updates, which helps keep the attention alive
The big question is: How much can Al grow?
Even though Al has surged recently, it's still not as big as web3 gaming, which is worth $18 billion.
The reason? Simply Web3 gaming has been around longer than Al coins, so there are more
around longer than Al coins, so there are more protocols.
However, it's important to note that at its peak, Metaverse coins were worth a whopping $121 billion!
That's 10 times more than all the MC of Al coins put together.
The biggest difference between the metaverse rally and Al:
The Metaverse rally came out of nowhere, sparked by the rebranding of Facebook into SMETA. This caused a massive surge for a short period before the market eventually peaked.
Al is not something new; it has been a topic for many years now. Similarly to the metaverse, the rally sparked with OpenAl releasing ChatGPT and fueling the attention, which they continue to do with Al developments.
Think of it as a sustained form of attention over time.
When will this peak?
It's tough to say, given that there are Al developments announced every month. But if we're talking about Al as a bubble, it's nowhere near its peak potential.
