AI tokens had the 3rd highest returns of any category in 3 months – Binance
Blockchain tokens associated with artificial intelligence (AI) have made significant gains in the three months to January 2, according to a Binance Research report.
The tokens were the second highest performing category behind Ethereum Layer 2s excluding memecoins. When memecoins are included, AI tokens were the third best performing category. Binance researchers cited the Dune Analytics dashboard from @Cryptokoryo_research as the source of their data.
The report classified six coins as “AI tokens,” including SingularityNET (AGIX), Cortex (CTXC), Fetch (FET), Ocean Protocol (OCEAN), Oraichain (ORAI), and Render (RNDR). These coins have seen a 185% price increase in three months.
For comparison, DeFi 2.0 tokens increased by 87%, GameFi by 109%, and Real World Asset (RWA) tokens by 145%. One category that posted better returns than AI tokens was Layer-2s, which gained 221%. The researchers did not include memecoins in their analysis, stating that these coins have “a disproportionately large percentage of performance gains due to their relatively low market capitalization.”
AI tokens have also outperformed major coins such as Bitcoin (BTC) and Ether (ETH) during the year. BTC ended the year up 150%, while ETH gained 44%. On the other hand, the researchers[t]It is a one-year performance [AI tokens] It varies from 200% to as high as 650%.
Out of this group of AI coins, Fetch was the top performer in 2023, with its price up 659% over the year. According to the documents, Fetch is a blockchain network that runs AI programs called “agents” and features a marketplace for AI services.
The second highest rate of return for these coins came from SingularityNET, which posted a 616% return for the year. SingularityNET offers a marketplace for AI services on the Ethereum network, with other networks likely to be added later.
Related: Real AI use cases in crypto: Crypto-based AI markets and AI financial analysis
Other notable AI token gains include Ocean Protocol, which gained 215%, and Bittensor (TAO), which posted a 191% gain.
Some experts predict that blockchain-based decentralized physical infrastructures (DePIN) and AI will become a “power duo” in 2024.
