How the Top 5 AI, AGIX, FET, OCEAN, RLC and NMR Tokens Fared in 2022

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Artificial intelligence (AI) crypto tokens are attracting a wave of interest that began with the release of the ChatGPT chatbot, which captured the imagination of people around the world.

The apparent capabilities of ChatGPT show the potential of AI to revolutionize multiple aspects of life. As such, some are touting AI crypto tokens as the next big thing.

This translated into a strong performance in the AI ​​sector. As of January 18, over the previous 30 days, the top three gainers were Kambria, SingularityNET, and Graphling Protocol, which rose 445%, 322%, and 290%, respectively.

An analysis of the top 10 performers over the past 30 days showed significant declines from all-time highs, with six out of ten losing 90% or more in value from their peak price.

AI Cryptos / Source: CryptoSlate.comAI tokens are mostly microcaps

In the list above, eight out of ten are microcaps, which generally equates to untested proof of concept, high risk of failure/dropout, and lack of liquidity. A microcap is a crypto project with a market cap valuation of less than $50 million.

However, on the effects side, with high risk comes high reward, as the upside potential is increased by capital inflows yielding larger percentage gains on lower market caps.

Filtering the data by market capitalization showed that the entire AI industry includes micro-cap offerings, except for the top seven. The top seven AI projects have market valuations below $1 billion, making them small caps.

AI Cryptos / Source: CryptoSlate.com

The AI ​​sector is underdeveloped and underinvested, with leading AI token SingularityNet currently ranking as the 118th largest crypto project by market capitalization.

As such, the recent dizzying percentage gains in the AI ​​sector are exaggerated relative to the large caps in actual entries.

Top 5 AI Tokens by Market Cap

Nonetheless, many still see AI as the next sector to explode, leading to speculative fervor from investors looking to get in early.

All of the top five AI tokens lost significant value over the past year, as expected. iExec RLC fared best with a 59% decline over the period. However, a strong start to 2023 for all puts SingularityNet ahead of the pack, up 360% year-to-date.

SingularityNet

AGIX opened 2022 at $0.2026, closing the year at $0.0464, which equates to a 77% loss in value over the period. The token has since exploded massively in 2023, peaking at $0.2581 on January 14. Gains since the beginning of the year amount to 365%.

Fetch

FET opened 2022 at $0.5029, closing the year at $0.0916, which equates to an 82% loss in value over the period. Since the start of the new year, the FET has recorded strong gains, peaking at $0.2986 on January 18, with a YTD gain of 203%.

Ocean Protocol

OCEAN opened 2022 at $0.8523, closing the year at $0.1630, which equates to an 81% loss in value over the period. The year 2023 started with strong price action test resistance in the $0.2995 area on January 14 and again on January 17. Gains since the beginning of the year at 67%.

iExec RLC

RLC opened 2022 at $2.957, closing the year at $1.221, which equates to a 59% loss in value over the period. A strong start to the year saw RLC record a local high of $1.883 on January 15 before giving up most of those daily gains. Its increase since the beginning of the year amounts to 32%.

numerary

RMN opened 2022 at $31.49, closing the year at $12.29, which equates to a 61% loss in value over the period. The token recorded a local value of $17.76 on January 14, recording year-to-date gains of 31%.

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