Artificial Intelligence (AI) tokens have experienced a significant decline in trade volume, reaching their lowest point since January, according to data from blockchain analytics firm Kaiko. These tokens, which gained initial traction and attracted investor attention in a lackluster market, have been losing momentum recently.
One example is Fetch.ai (FET), a popular blockchain platform that utilizes AI to automate everyday tasks. Despite its initial success, FET has seen a loss of over 9% in the past month, currently trading at $0.214. Its weekly loss stands at a little over 5%.
Injective (INJ) token has also suffered a decline of more than 13% in the past week, with a current trading price of $8.13. Similarly, the native token of the Oasis Network blockchain, ROSE, experienced a minor correction of 1% and is now trading at $0.05.
SingularityNet, an open and decentralized AI services platform, saw a 5% decline over the past seven days, bringing its value down to $0.22. Render’s (RNDR) weekly decline followed a similar pattern, with the AI-related token dropping over 5% to $1.78.
The Graph’s native token (GRT) also experienced a loss of nearly 4% in value over the past week, currently trading at $0.112. This downward trend in AI-related tokens reflects a general decrease in investor interest and trading activity.
Despite the recent decline, AI remains a hot topic, with OpenAI’s ChatGPT generating significant buzz in the space. As the market evolves, it will be interesting to see how AI-related tokens adapt and regain momentum.
Please note that this news article is for informational purposes only and should not be considered financial advice. Investors should conduct their own research before making any investment decisions.
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