The latest trends and the most promising cryptographic projects integrating AI are examined. AI tools can help investigate and analyze crypto projects, saving a lot of time.
It is not easy to review the best crypto projects that integrate artificial intelligence technology, given the large number of sources that compete to provide their interpretation.
However, the data available on CoinMarketCap and Cryptoslate is the basis upon which indications on the top AI tokens at the moment are offered.
The “AI and Big Data” category on the CoinMarketCap research portal collects and ranks crypto projects related to this narrative by market capitalization. All of these cryptocurrencies, taken together, have a market capitalization of $4.35 billion.
On the other hand, from the sixth position onwards, new projects not mentioned in Coinmarketcap emerge on the list, such as Alethea Liquid Intelligence, Numerarie, dKargo, Covalent, and Phala Network.
The data regarding Covalent, which is -55% from its all-time high, is incorrect, as the cryptocurrency is actually down 95% compared to its ATH at $2.10 (now $0.107).
In any case, these data show how the FOMO earlier in the year on tokens belonging to the AI universe did little to save them from a rather disastrous situation. Speculatively speaking, most of these cryptocurrencies are junk.
AI as an Aid in the Analysis of Crypto Projects
Having verified that the crypto projects of the AI sector register a price action with disappointing performances, it seems worth not focusing on the AI tokens themselves but on the inherent potential of the technology itself.
For example, a “simple” chatbot like ChatGPT can be useful in a number of different cases, especially when it comes to information gathering, fundamental analysis, and studying engagement on social media.
Users can also ask the OpenAI-owned chatbot to list the most interesting facts about a crypto project in terms of long-term potential, product adaptation in the market, and advantages over other competitors.
In general, there are more benefits to using AI itself to study a specific token in the sector, rather than choosing to buy a cryptocurrency that integrates AI into its business.
Technology and speculation must be contextualized by avoiding trivial assumptions such as: “Since AI is the future, it’s a good idea to buy The Graph to get rich.” Such an approach is flawed and unsuccessful, but it is often the most widely used by retail investors, who know very little about the markets.
The AI Narrative in the Context of Cryptocurrencies
The AI narrative has spread wildly in the cryptocurrency world since the beginning of the year. Since ChatGPT made its market debut, there has been little talk of anything else in Web3 environments, with an explosion of interest in late 2022 and early 2023.
AI technologies are undoubtedly a revolution and will be part of society in the coming years, but it is wrong to only talk about the merits and not the defects, as well as to expect AI software to change the cryptocurrency landscape overnight.
Before being fooled by the media, it is necessary to get a unique idea about a specific concept and evaluate the facts instead of the words of the influencers.
Technology and innovations are great; the problem is the information overload that ruins everything.
By Audy Castaneda
