OpenAI’s GPT-4 Launch Sets Off AI Token Price Surge

Joshua Ramos
ChatGPT-Creator OpenAI Hires Ex-Google and Meta Employees
Source: Bất động sản Meey Land

Following the highly-anticipated launch of OpenAI’s GPT-4, AI tokens have seen a massive price surge. Subsequently due to the market hype around the technology and the realization of just how advanced it’s becoming. Thus, impacting market sentiment around these digital assets.

Following its tremendous success with ChatGPT, research firm OpenAI has done it once again. Delivering an AI program that can now input text and has shown to be far more advanced than the chatbot, the industry has taken notice. Moreover, AI tokens are benefitting from the development.

Source: Forbes

AI Tokens Surge

Since its release late last year, the entire tech industry has seemed to consistently talk ChatGPT. The industry has enacted a near AI arms race to develop competing products and garner a share of a market that has proven to be quite fruitful.

Now, that market is proving its worth again, in a different avenue, OpenAI’s GPT-4 launch has set off an AI Token price surge. Specifically, CoinGecko notes SingularityNET’s AGIX saw an increase of 25% overnight, while other AI tokens like (FET), Numerair, and Ocean Protocol (OCEAN), have all seen double-digit gains. Subsequently, increasing at a higher rate than the rest of the market.

Source: BeInCrypto

Analyst for IntoTheBlock, Juan Pellicer, told Decrpyt, “It’s clear that the new narrative in tech is AI, and these coins are benefiting tremendously.” Additionally, noting that fact is seen when observing SingularityNEt (AGIX), trading, “with lower levels of correlation compared to the rest of hte crypto market.”

Conversely, some worry the gains are speculative in nature. Including CoinGecko’s head of research, Zong Yang Chan. He told Decrypt, “The current wave of investment in AI crypto is likely driven more by speculation than by fundamentals. Beyond the initial hype, investors and builders should focus on meaningful use cases that combine AI and blockchain.”

The development will surely need time to play out, but the current state of AI is promising. Thus, investors infer the current wave of capital and focus being put into the technology could set a good investment in AI crypto today, which may not be a bad gamble for some.