- The AI cryptocurrency sector has seen more and more capital inflows.
- The market capitalization has had a growth of around 63%.
- The sustained success of the sector is linked to further developments, investor interest and publicity.
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The value of artificial intelligence (AI) cryptocurrencies has been on the rise due to further development of the sector fueled by the initial success of the text-based platform ChatGPT. As a result of this, the cryptocurrencies of the sector have registered more and more capital inflows.
As of March 1, the market capitalization of AI-focused digital assets has surpassed $4 billion to stand at $4.18 billion.
Taking advantage of the web archive tool, it was determined that the market capitalization represents an inflow of about 1.62 billion dollars from the 2.56 billion registered on January 27. This value represents a growth of around 63%. At the same time, the inflow of capital caused the dominance of the AI sector in the cryptocurrency market to grow from 0.24% to 0.39%.
A breakdown of cryptocurrencies shows that The Graph token represents the largest AI market capitalization at $1.38 billion. In addition to supporting the AI space, the protocol’s native token, GRT, can be leveraged for staking, in-network payments, earning commissions for depositing into a bonus curve, and delegating to indexers.
Other high-ranking AI cryptocurrencies include SingularityNET’s native AGIX token ($611.59 million) and Fetch.ai’s FET token ($371.89 million).
Although AI cryptocurrencies have seen significant growth, several analysts remain skeptical of their potential. For the moment, sustained success is tied to further developments in the world of AI.
The growth opportunity around AI is a combination of investor interest, potential, and hype. The price trajectory of the tokens will depend on the sentiments of the market. The cryptocurrency market rally in 2023 has slowed as the sector wrestles with new macroeconomic concerns.
