Here’s why this Thanksgiving day, crypto investors should be thankful for Artificial Intelligence
Cryptocurrencies have always been susceptible to external factors and market trends. However, amidst the noise and volatility, one trend has emerged as a significant force pushing the market forward: Artificial Intelligence (AI).
Traditionally portrayed as a villain in popular media, AI has found a different narrative within the crypto industry. OpenAI’s ChatGPT, developed by CEO Sam Altman, initially faced criticism but ended up sparking the growth of an entirely new sector that attracted major players like Microsoft, Amazon, Meta, and Google. It was only a matter of time before AI’s influence reached the crypto market.
At first, ChatGPT was seen as a platform for casual use. But as skilled users unlocked its true potential, investors began to recognize the possibilities that AI presented. Consequently, in the latter part of Q2 and the beginning of Q3, AI tokens experienced bullish surges, becoming the best-performing assets in the market. Cryptocurrencies like Injective, The Graph, Render, Oasis Network, and SingularityNET saw their values increase significantly, sometimes by ten to fifteen times their initial worth.
While this bullish phase has waned in recent times, the AI token category remains one of the most profitable for investors. A recent event related to Sam Altman, where he was initially fired as OpenAI’s CEO but rehired after two days, had minimal impact on the overall profitability of AI tokens.
Currently, among the top 15 gainers year-to-date, three assets belong to the AI category: Injective (INJ), Render (RNDR), and The Graph (GRT).
Injective takes the lead as the best performer among these assets, with a staggering growth of 1,093% over the past 11 months. Its price has risen from $1.26 to $15.19 at the time of writing, reaching a peak of $18 in early November.
Similarly, Render has seen an impressive 705% increase in value since the start of the year. Its price has surged from $0.402 to $3.224, rewarding early investors and adopters with significant gains.
The Graph may not have experienced skyrocketing gains, but it remains a profitable investment, with a growth of 151.5% in the past 11 months. Trading at $0.1384, up from $0.0564 on January 1, The Graph reached its peak on February 7, surging by 279% to $0.2084.
As Thanksgiving wraps up, investors have a reason to be grateful for AI’s emergence as a thriving industry. With promising growth potential in the coming months, AI is poised to bring substantial profits along the way.
In a world where uncertainty often looms over investments, AI tokens have proven themselves as a resilient and potentially lucrative choice. By leveraging the power of artificial intelligence, investors have embraced a new frontier in crypto, one that continues to show promise and reward.
