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Buterin, Worldcoin, and how AI tokens are defining this cycle

Feb 20, 2024 - ambcrypto.com
The article discusses the potential impact of artificial intelligence (AI) on the cryptocurrency market. It highlights the growing interest in cryptocurrencies with AI fundamentals, with the total market cap potentially reaching $100 billion if the performance of 2023 is replicated in 2024. The article also mentions the views of Vitalik Buterin, co-founder of Ethereum, on the convergence of AI and blockchain. It further discusses the performance of AI tokens like Fetch.ai and Bittensor, and the potential of new AI tools like Sora and Worldcoin to impact the crypto economy.

The article also highlights the role of Graphics Processing Units (GPUs) in the rise of AI-themed cryptocurrencies and the potential for blockchain to develop effective AI tools and servers. It mentions the increasing number of holders of tokens like Render and the potential for mid to low-cap cryptocurrencies like PAAL AI and Sleepless AI to hit 5x or 10x due to the surrounding narrative. The article concludes with the projection of a surge in token launches related to AI in the next 10 years and the transformation of user experience in crypto by AI.

Key takeaways:

  • Cryptocurrencies with AI fundamentals are gaining attention, with the total market cap potentially reaching $100 billion if 2024 replicates 2023’s performance.
  • AI tokens such as Fetch.ai and Bittensor have seen significant price increases, with the latter experiencing a 508,010% increase within the last year.
  • The demand for Graphics Processing Units (GPUs), essential for modern AI infrastructure, is also fueling the rise of AI-themed cryptocurrencies.
  • Despite the potential for retracement, AI's high level of utility and potential for hype cycle sustainability may make AI tokens one of the best-performing assets of this cycle.
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