Crypto tokens associated with artificial intelligence (AI) saw impressive gains in the three months leading up to January 2, 2024, according to a report from Binance Research.
Crypto tokens associated with artificial intelligence (AI) saw impressive gains in the three months leading up to January 2, 2024, according to a report from Binance Research. AI tokens were the second-highest performing category behind Ethereum layer 2s when excluding memecoins. When memecoins were included, AI tokens were the third-best performing category, according to a Dune dashboard by Cryptokoryo research.
The report categorized six coins as AI tokens: SingularityNET (AGIX), Cortex (CTXC), Fetch (FET), Ocean Protocol (OCEAN), Oraichain (ORAI), and Render (RNDR). These coins saw price increases of 185% over the three months.
For comparison, DeFi 2.0 tokens saw an 87% increase, GameFi 109%, and Real World Asset (RWA) tokens a 145% increase. Layer-2s posted the best returns, with a 221% gain.
AI tokens also outperformed major coins such as Bitcoin (BTC) and Ether (ETH) over the year. BTC ended the year up 150%, while ETH gained by 44%. Out of this group of AI coins, the top performer in 2023 was Fetch, whose price increased by 659% for the year. Fetch is a blockchain network that runs AI programs called "Agents" and features a marketplace of AI services. The second-highest rate of return for these coins came from SingularityNET, which posted a 616% gain for the year. SingularityNET claims to offer an AI services marketplace on the Ethereum network, with other networks to be added later. Other notable AI token gains included Ocean Protocol, which gained 215%, and Bittensor (TAO), which posted a 191% gain.
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