What is the Current Status of AI Tokens After ChatGPT Global Launch?

    Undoubtedly, ChatGPT app triggered a strong wave of AI investment in 2023. Predictions at the beginning of the year suggested that the AI trend could explode the Crypto market similarly to Metaverse. However, how are AI Tokens performing now?

    AI Tokens face significant challenges in becoming trendsetters to attract new capital into the market. According to CryptoSlate’s statistics on the recent growth and volume of AI Tokens:

    • The 24-hour trading volume of AI Tokens stands at around $183 million, accounting for only 0.6% of the total market’s trading volume. Although the last 30-day volatility of some AI Tokens has shown slight increases, most of them are still far from reaching their all-time high levels. Many of the top AI Tokens have experienced drops between 80% to 90%.
    • Consequently, AI Tokens themselves lack sufficient attractiveness to rescue their market position, and the impact of these projects remains relatively weak. Short-term fluctuations over 7-day or 24-hour periods do not provide meaningful insights. The current market capitalization of the AI Token team is under $2.6 billion, representing only 0.22% of the total market capitalization.

    AI Tokens merely “follow” the name without truly grasping the essence of the technology. Investors have swiftly recognized this fact, leading them to refrain from actively purchasing and holding these tokens for extended periods.

    Key statistics regarding AI Token transaction volume are as follows:

    Source: Kaiko
    • The highest trading volume was recorded in February, with one week surpassing $6 billion in weekly volume. However, in July, the weekly volume drastically dropped to under $1 billion. Furthermore, last week, the weekly volume hit the lowest point for the year.
    • In May, as the market regained some activity and market capitalization reached new heights, the weekly trading volume slightly exceeded $1 billion.

    Current observations suggest that the AI token trend has lost some momentum and may remain subdued unless projects introduce new innovations to keep up with the global wave. By contrast, the AI trend has driven a surge in many tech stocks. Recent research indicates that the revenue generated by the AI market may increase to $1.3 trillion by 2032, representing a 20-fold increase from its current level.

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