The entire globe has been acclimating to the advanced technological evolution. Crypto, blockchain, AI, and others are among the most popular technologies that are expected to shape the future. However, the emergence of artificial intelligence [AI] has particularly been getting significant attention lately. AI tokens in the cryptocurrency industry were reaping the benefits of the technology’s popularity.
AI tokens like Fetch AI [FET] and SingularityNET [AGIX] were seen pocketing triple-digit gains. Over the last 30 days, AGIX has surged by 591.5%. FET also echoed this notion as it rose by 207%. It should be noted that none of the assets in the coveted top 10 witnessed growth of this magnitude.
However, the abrupt pump that these AI tokens are experiencing comes with an immense risk of volatility. For instance, following a rally, FET was down by 15% over the last 24 hours and was trading at $0.472. AGIX was also enduring a 23.6% daily slump while trading around $0.447.
This further spurred the community towards suggesting that AI tokens were being pumped and dumped.
A few others, however, were positive about the impact of AI on crypto and blockchain tech.
Is AI the catalyst for the next crypto bull run?
The ongoing rally of AI tokens is proof enough that the community is leaning toward these assets. Several believe that AI is a potential risk to certain jobs. This could be the case for crypto as well.
While the chances are far-fetched, some believe that AI could instigate the next bull run. Taking into account the ongoing rally, one Twitter user said,
There were naysayers too.
Furthermore, the use cases of AI have no limits. While a majority of them do not want to combine these technologies, a few others highlighted how crypto, blockchain, and AI could thrive together.
AI has been employed to predict and carry out beneficial trades for investors who are still at the novice or intermediate levels. However, the fate of AI crypto assets is questionable as they might succumb after the hype around this technology slows down.