Crypto-AI Economy Suffers $730M Loss in 2 Months as Interest Falls Coinspeaker

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Less than two months ago, a collection of 74 listed cryptocurrencies centered on artificial intelligence (AI) amassed an impressive valuation of $4 billion. However, the weeks that followed saw a sharp decline in gains from the crypto-AI economy, with losses of $730 million. The three largest AI-based crypto projects have all suffered double-digit losses, ranging from 10% to 29.58%, against the US dollar over the past 30 days.

Interest in Combination of Crypto and Artificial Intelligence Declines, Crypto-AI Token Economy Loses $730 Million

Various data points suggest that the interest and value of crypto-AI projects has declined. Global crypto ai search trends peaked in early February 2023, with a Google Trends score of 100. Despite the rise, in the past 90 days the score has dropped to a low of 22. Slovenia, Netherlands, Cyprus , Lebanon, and Nigeria make up the top five countries interested in crypto ai searches right now.

Global search trends according to Google for the term “crypto ai” between January 22, 2023 and April 18, 2023.

In February, the collective crypto-AI economy hit a milestone of $4 billion, thanks to impressive gains among top AI-driven cryptocurrencies following a multi-billion dollar investment by Microsoft in Openai, the creators of Chatgpt. However, the crypto-AI sector has since suffered significant losses. Current data from cryptoslate.com indicates that $730 million has been wiped from the crypto AI token economy.

The crypto asset singularitynet (AGIX) lost 29.58% in 30 days and 21.51% last week.

The largest crypto AI asset by market capitalization, Chart (GRT), suffered a loss of 10.71% over the past month. The second-largest AI-centric crypto asset, singularitynet (AGIX), fared less well, down 29.58% over the same period. Fetch (FET), the third largest crypto AI token, has seen a 14.36% decline in value over the past 30 days. Most of these losses have occurred over the past seven trading days, coinciding with a general slowdown in the broader crypto market.

Overall, crypto tokens associated with artificial intelligence fell by 7.38%. The past week has been particularly turbulent, with a drop of 15.70% recorded. Currently, the global 24-hour trading volume for the crypto-AI sector stands at $325.58 million. Interestingly, the cannabis-focused crypto sector is currently the strongest performer, having gained 3.89% against the greenback last week, according to data from cryptoslate.com.

Tags in this story Artificial intelligence, cannabis cryptos, Crypto AI, Cryptocurrency, search, Google Trends, chart, Losses, Market cap, Market valuation, search interest, Singularitynet

What do you think the future holds for the intersection of AI and cryptocurrency? Why do you think interest in crypto-ai projects is declining? Share your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.

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