• AI-related tokens have seen a decline in value against the US dollar in the past week.
• According to an analysis by Kaiko, these tokens witnessed their lowest weekly trade volume since January.
• Popular AI-based crypto assets such as Fetch.ai (FET), Injective (INJ) and Oasis Network’s ROSE saw significant losses over the past week.
AI Tokens Hit Lowest Weekly Trade Volume Since January
The popularity of Artificial Intelligence(AI) is on the rise due to the success of OpenAI’s ChatGPT and this has led to the emergence of several AI-related crypto tokens which have captured the imagination of investors amidst a dull market. However, top AI based tokens have witnessed a decline against the US Dollar in recent weeks with their weekly trade volumes hitting its lowest since January according to an analysis by blockchain analytics firm Kaiko.
Fetch.ai Experiences Losses
Fetch.ai is a popular blockchain platform that leverages AI for users to automate everyday tasks and its native token FET had seen tremendous success since its launch but it has now experienced over 9% losses and was trading at $0.214 with a 5% weekly loss according to data from Kaiko.
Injective & Oasis Network Suffer Significant Losses
Injective’s INJ token faced more than 13% losses and was exchanging hands at $8.13 while Oasis Network’s ROSE token was trading at $0.05 after experiencing a 1% correction during the same period according to data from Kaiko.
SingularityNet Reaches New All Time Highs
SingularityNet, an open decentralized marketplace for AI services, has been performing well as its AGI tokens reached new all time highs recently despite witnessing minor corrections during last week trading at $1 mark according to data from CoinMarketCap . This could be attributed its listing on Binance Futures which helped drive up demand for AGI tokens resulting in new all time highs being reached by AGI tokens despite overall bearishness in cryptocurrency markets recently .
Conclusion
Overall, it can be concluded that top artificial intelligence-based crypto assets are facing declines against the US Dollar in recent weeks with their weekly trade volumes hitting its lowest since January according to data from Kaiko . However, SingularityNet’s AGI token has performed well due to increased demand resulting in new all time highs being reached by AGI tokens despite overall bearishness in cryptocurrency markets recently .