Generative AI Tokens Market Cap Crosses the $12B Mark

Generative Artificial Intelligence (AI) is gaining traction within the cryptocurrency industry. That’s per a recent Stocklytics.com data presentation. The firm reports that the market capitalization of generative AI tokens has surpassed the $12 billion mark.

Stocklytics’ financial expert Edith Reads has shared her thoughts on the findings. Edith holds that attaining that mark is no mean feat for a sector still in its infancy. She added that several factors, including the increasing adoption of conversational AI, are behind this rise.

The growth of generative AI crypto tokens has been phenomenal, considering these investments are hardly two years old. This surge is largely due to the mainstreaming of Chat GPT and other conversational AI software. These have ignited a broader interest in the application of AI tech in other sectors, including crypto.

Stocklytics Financial Analyst, Edith Reads

Edith added that big tech investments in generative AI have also impacted its adoption in crypto. Tech giants like Microsoft and Google have ramped up their investments in such projects. With that, they’ve enhanced the sector’s credibility, thus pushing for further adoption.

Top Generative AI Tokens of 2024

Stocklytics’ report also ranked the leading crypto AI projects by market cap. Topping this list is TAO, Bittensor’s native cryptocurrency. At press time, TAO’s market cap stood at $3.86 billion. TAO facilitates the interaction of its holders with the Bittensor marketplace, a P2P platform for sharing knowledge on machine learning.

RNDR, the utility token for the Render Network, took the second spot. Per Stocklytics’ data presentation, it commands a market cap of $1.871 billion. This ERC 20 token enables users to buy animations, graphics, and VFX rendering from the network.

In the third place is AKT, Akash Network’s native and utility token. AKT has a market share of over $829 million. Meanwhile, Fetch.ai’s FET token takes the fourth slot with a capitalization of $567 million.

Rounding up the top five is Corgi.ai’s CORGIAI token, whose market cap is nearly $455 million. Other notable ranking AI tokens are SingularityNet’s AGIX ($398.9 million) and Echelon Prime’s PRIME ($378 million).

What’s the Outlook For Generative AI Tokens?

Edith expressed optimism about the future of AI cryptocurrencies. She asserts that the market has already received these digital assets positively. So, advancements in this space can only entrench them further.

Her sentiments echo a recent analysis of the AI investment potential in America. The analysis holds that the technology has passed a crucial tipping point, implying its adoption across different economic sectors can only increase.

Despite her optimism for these assets, she urged caution in their investments. She insisted that AI tokens are very volatile, as with any other crypto investment. That, coupled with the sector’s nascency, requires extreme care and due diligence in their uptake.