J.P. Morgan Report Stirs AI Crypto Token Discussion
The recent J.P. Morgan research “The e-Trading Edit,” which contends that traders are shifting their attention away from blockchain technology and toward Artificial Intelligence, has created a stir in the cryptocurrency community. The largest AI token, The Graph, saw a 13.65% decline during the last day and was trading at $0.1519, indicating that the market has not yet responded to this excitement.
AI Tokens Will See Price Drops
The Graph is not the only AI token experiencing losses in the market; others include SingularityNET, Oasis Network, Fetch.ai, Ocean Protocol, and iExec RLC. AGIX, the SingularityNET token, fell 7% despite a 101% increase over the previous seven days. Oasis Network, the third-largest AI cryptocurrency, had a 14% drop.
Market Dynamics and Threats
The cryptocurrency market is heavily influenced by market trends, and many investors, particularly novices, gravitate toward projects that exhibit promising outcomes. Unfortunately, there is also a chance that AI crypto tokens will just end up being another hype-driven fad.
The market performance of AI tokens reveals that there is still a long way to go before they establish themselves as a reliable investment choice, despite the J.P. Morgan research highlighting the increased interest in AI and machine learning.