In this article we revisit Bitget’s latest report on the artificial intelligence sector and see which were the best performing AI cryptocurrencies from February 15th to today.
Since Nvidia released its Q4 2023 quarterly data, with results above all expectations, all US tech stocks and AI-themed crypto coins have seen a sharp increase in demand on the markets, with prices growing strongly.
In the meantime, as technologies based on artificial intelligence and automated content creation tools evolve, cases of crypto scams and video scams are spreading more and more frequently.
All the details below.
Crypto and AI: Bitget analysis showcases the best performing AI tokens in recent days
According to what emerged in the latest AI-themed report from the crypto exchange Bitget, tokens from the artificial intelligence sector have shown particularly bullish chart behavior lately compared to the rest of the crypto coins.
In particular we see how the daily trading volume for cryptocurrencies belonging to Bitget’s so-called “AI Zone” increased by 361% from 15 to 20 February.
It should be noted that the volumes were even greater than those recorded during the fomo at the beginning of the year.
At the same time, the number of users who have carried out operations in the same category of digital products is also growing, with the data marking an increase of 136%.
Trying to go more specifically, in the last few days the best performing cryptocurrencies in Biget’s AI Zone were WLD, ARKM, LPT, GRT and AGIX.
In detail, the currency of Sam Altaman’s Worldcoin project has expressed its full potential in the last two weeks, going from 2.4 dollars to the current 8.7 dollars, for a price increase of approximately 250%.
ARKM of the Arkham intelligence software company recorded the same trend as the previous coin, with a growth of around 190%: from 0.60 dollars the value of the AI crypto has reached over 1.7 dollars with the bulls still today they show their strength.
LPT, on the other hand, belonging to the Livepeer Network project, had a different procedural action: the week of February 12-18 the crypto had a crazy price increase of 139%, only to see a small contraction in the following week.
On-chain data indexing project The Graph’s GRT coin, highly correlated to the AI token index, is in the midst of a very aggressive rally, with prices aiming for new local highs despite rising by 74 % in a few weeks.
Finally, the AI services token AGIX, by SingularityNET, reached its highest point in the last two years of trading a few days ago, following a pump of over 150%.
It should also be noted that the RLC, BLZ and AI cryptocurrencies have performed very well compared to the rest of the crypto marketwith positive movements above the average.
Below is a graphic illustrating the Bitget AI Zone tokens that have performed best in the last 7 days:
From January onwards, all currencies included in this index recorded a 58% increase in market capitalizationdriven by the enthusiasm generated by the development of the OpenAI Sora project.
The rally of the last few days, however, seems to be supported by news relating to the financial reporting of the leading company in the microchip sector Nvidiawhich on Wednesday 21 February bewitched the entire world by recording profits well above expectations.
With revenues of $18.4 billion, up 409% from the previous year, Nvidia supported the bull run in tech stock markets in the United States and obviously also that of cryptographic tokens focused on the theme of artificial intelligence.
Crypto scam on the rise as the AI industry evolves
While on a speculative level, AI-themed cryptocurrencies are recording encouraging performances which bode well for the future of the sector, the cases of scam coins and scams created with artificial intelligence and the deepfake technique are also visibly increasing.
Already in 2023 the topic of token scams was taking an unusual turn, with dozens of shitcoins containing words like “CHATGPT” and “OPENAI” in their ticker, falsely alluding to a possible connection with Sam Altaman’s company.
Today, however, the proliferation of tokens that contain terms inherent to projects based on artificial intelligence is about to reach an uncontrollable level: considering i token scam present on Dextools that contain the two words mentioned above, we see that these have more than doubled in a few months going from 700 trading pairs in June 2023 to the current 1470.
Another negative complication that has emerged with the evolution of artificial intelligence systems and the birth and spread of deepfake videos depicting well-known figures in the crypto scene making false claims, with the aim of defrauding less attentive users.
The AI tools of limited generations have in fact reached the point of being able to faithfully reproduce the physiognomic features of various celebritiesmanaging to create deceptive videos that attempted to extort money from victims.
Proof of this is the fact that in January Michael Saylor, founder of the software intelligence company Microstrategy, revealed that he is continually struggling with growing cases of deepfake content depicting his face.
Every day, as he himself declared, around 80 new scam videos pop up like mushrooms, which invite you to donate BTC to your address to double your balance, contain malware or refer to fraudulent projects.
In 2022, we saw a similar trend with deepfake videos depicting billionaire Elon Musk dealing with fake crypto giveaways, containing words like Dogecoin, Bitcoin, Tesla, etc.
Recently, several fake videos have circulated in which the protagonist was Anatoly Yakovenko, co-founder of Solana as well as a famous public figure in the crypto world. As SOL and the Solana ecosystem grew at a rapid pace, scams based on the same topics also began to multiply.
Furthermore, in recent days, de-fake videos featuring Larry Fink have been emerging. CEO of the well-known BlackRock investment fund, invite his stakeholders to scan a QR code and donate BTC to receive double the coins or alleged NFTs in exchange.
For those who work daily within the crypto sector, these AI-created scams are easily identifiable and filterable from the rest of the legitimate news.
The problem with the propagation of this content is that instead less experienced users and those new to the crypto industry could easily fall victim to scams.
As the world of artificial intelligence grows making giant progress in multiple fields of daily life, measures must be taken as soon as possible to block this social plague.
Source: https://cryptonomist.ch/2024/02/26/bitget-report-migliori-crypto-intelligenza-artificiale-ai/
