The trading volume of AI-related tokens rose 700% in a week
Analysts attribute the growth in artificial intelligence crypto projects to the popularity of the technology among large companies, including Microsoft and Google
Artificial intelligence-related cryptocurrency trading volume rose 700% in a week to $4.67 billion, according to analytics portal CryptoRank. The market capitalization of tokens from this category rose 98% during the same time, topping $2.1 billion.
AI-related crypto projects are showing notable growth amid the popularity of artificial intelligence among venture capitalists and large tech companies such as Microsoft and Google, platform analysts noted in their official Telegram channel.
The tech industry giants have begun integrating artificial intelligence into their services. Thus, Microsoft has launched an updated version of its own search engine Bing, which integrates chat-bot ChatGPT, Google announced the launch of chat-bot Bard, and the Chinese IT giant Baidu said it plans to complete testing chat-bot Wenxin Yiyan (ChatGPT analog) and launch it in March this year.
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Cryptocurrency CryptoAI (CAI) became the growth leader among the crypto projects related to artificial intelligence - its rate jumped by 398% during the week. The project develops bots for trading and monitoring the cryptocurrency market.
The management token of Singularity DAO (SDAO) showed a noticeable growth - it grew by 286% during the week. The project offers the implementation of risk management strategies based on artificial intelligence in DeFi services.
The SingularityNET (AGIX) token grew by 191% during this time. Low-liquid category tokens also show growth of hundreds of percent on a wave of interest in the technology from large companies.
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