Despite World Bitcoin Attention, AI Token Trading Volume Stagnates
Data shows that trading volume for AI tokens increased in August, rising to about $870 million from $570 million at the end of July.
While the debut of World Coin (WLD) has attracted attention to artificial intelligence (AI) tokens, recent trading data from Kaiko suggests that AI token trading volume in general has remained stagnant despite the hype surrounding the launch of World Coin.
Data shows that in the past month, the trading volume of AI-related tokens has grown steadily. From the end of July to the end of August, the trading volume of AI tokens increased from US$570 million to US$870 million. However, compared with the figure of US$7 billion that broke through at the beginning of 2023, the current trading volume has plummeted since the beginning of the year and has stagnated since then.
Kaiko analyst Dessislava Ianeva noted that enthusiasm for AI tokens began to wane in July, mainly due to changes in global risk sentiment. Excluding WLD, the total open interest in the five largest AI tokens fell from $170 million in February to $60 million in August.
Worldcoin first debuted on July 24, 2023, and has attracted the attention of the cryptocurrency community. The project's popularity is mainly due to its co-founder Sam Altman, who is also the CEO of OpenAI.
The main goal of Worldcoin is to create a network composed entirely of real individuals, without automated robots. The San Francisco-based company plans to issue people World IDs, which aim to allow individuals to interact with websites without revealing personal information such as their name, phone number or email address through a "global identity verification" system.
However, global regulators and privacy advocates have expressed great concern about the move, arguing that not only is the organization's data collection procedures unclear, but the practice of aggregating large amounts of personal data by a single centralized entity also raises great concerns about data privacy.
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