AI Crypto Tokens Experience an Impressive Surge of 257%: 15 Countries Leading the Way, US Consumers Fueling Interest in AI Crypto Coins
AI crypto coins have seen a remarkable average increase of 257% between January and March of this year, according to a recent report by Coingecko. Among the top 25 most popular AI coins during this period, Bittensor, Render, and Fetch.ai emerged as the leaders. Additionally, several smaller AI-related coins gained enough attention to enter the competitive list.
Remarkably, 15 countries globally accounted for over 74% of the market share of global interest in AI crypto coins. The United States and the United Kingdom claimed the top two spots, respectively, while Southeast Asia demonstrated significant interest in these coins. Interestingly, the UK, the US, India, Australia, Canada, and the Philippines also led the rankings for meme coins in 2023, indicating a particular responsiveness to crypto market narratives.
AI coins, also known as tokens, are cryptocurrencies specifically developed to power AI-based projects, applications, and services. These coins are used for transactions on AI platforms and can also serve as governance tokens, granting holders governance rights. AI technology can be trained to analyze market trends, identify investment opportunities, detect illicit activities, and perform various other tasks, with new potential applications emerging regularly.
The surge in interest in AI crypto comes as no surprise, considering the significant attention AI has received in recent years, particularly following the launch of ChatGPT. The launch of OpenAI’s Sora text-to-video model also contributed to an average price increase of 151% among AI crypto coins, further solidifying the growing interest in this market.
As of March 2024, Bittensor (TAO) holds the top position in terms of market capitalization, with a value of $3.85 billion. It remained the largest AI crypto coin throughout January and February 2024. Render (RNDR) follows closely with a market cap of $3.03 billion, and Fetch.ai (FET) holds the third spot with $1.41 billion. The Graph (GRT) has now taken the third position, with a market cap of $3.229 billion.
The CoinGecko study also revealed that the most popular crypto narratives in 2023 were AI, GameFi, and meme coins. AI tokens such as Akash Network (AKT) and RNDR experienced significant price surges, reaching all-time highs.
In Q1 2024, meme coins, real-world assets (RWA), and AI coins recorded the highest returns, with meme coins leading the way with an average return of 1,313% across its top tokens.
CoinGecko conducted a study in March 2024 to analyze web traffic by country for the top 25 most popular AI coins. The United States accounted for nearly 12% of interest, followed by the UK with 10% and Fetch.ai with 8.9%. Smaller coins like PaLM AI (PALM) and 0x0.ai (0X0) gained significant attention, thanks to their association with AI technology.
Furthermore, the study found that seven smaller coins had benefited from eye-catching tickers, including Solidus AI Tech (AITECH), DeepFakeAI (FAKEAI), ChainGPT (CGPT), AIT Protocol (AIT), LayerAI (LAI), Sleepless AI (AI), and Delysium (AGI).
US consumers are driving the interest in AI crypto coins, with the United States leading the market with a 19% share of global interest. The UK, Türkiye, India, Australia, Canada, and the Philippines also demonstrated significant interest in AI crypto coins, suggesting their responsiveness to crypto market narratives. The Netherlands, Poland, Germany, and France represented the European countries with the highest interest in AI crypto coins, while Southeast Asia showed outsized interest in this market.
In conclusion, AI crypto coins have experienced a substantial surge in popularity, with 15 countries leading the way. The United States and the United Kingdom are at the forefront of this trend, while Southeast Asia has shown significant interest as well. The increasing interest in AI technology and its potential applications are driving this surge, making AI crypto coins an attractive investment option.