Artificial Intelligence (AI) is all the rage owing to the success of OpenAI’s ChatGPT, which has taken conversations about the space to a whole new level. Off late, several AI-related crypto tokens have sprung up, capturing the imagination of investors amidst a dull market.
After initial gains, however, these assets underwent significant value reductions. Prominent blockchain analytical firm Kaiko also echoed a similar sentiment.
According to its latest analysis, AI-related tokens have been losing momentum, even hitting the lowest weekly trade volume since January.
AI-related tokens have been losing momentum, hitting lowest weekly trade volume since Jan. pic.twitter.com/299kh5im1j
— Kaiko (@KaikoData) July 27, 2023
Fetch.ai, for one, is a popular blockchain platform that leverages artificial intelligence to aid people in automating everyday tasks. Its native token, FET, too, has seen tremendous success since its launch.
But over the last month, the token lost over 9% and was currently trading at $0.214. Its weekly loss was found to be a little over 5%.
Injective (INJ) token was down by more than 13% over the past week as it exchanged hands at $8.13.
The native token of the layer-1 blockchain Oasis Network, ROSE, was trading at $0.05 after a minor correction of 1% during the same period.
SingularityNet, the open and decentralized platform of AI services, declined by 5% over the past seven days, which dragged its value to $0.22 at the time of writing.
Render’s (RNDR) weekly declines were also along similar lines. The AI-related token fell to $1.78 following an over 5% drop.
The native token of indexing protocol The Graph, GRT, lost nearly 4% of its value over the past week and was trading at $0.112.
The post AI Tokens Hit Lowest Weekly Trade Volume Since January: Data appeared first on CryptoPotato.
