The Decline of AI-Related Tokens
AI-related tokens have been losing momentum in the crypto market, with the lowest weekly trade volume since January. This decline comes after initial gains and has raised concerns among investors.
- Fetch.ai’s native token, FET, has experienced a loss of over 9% in the last month, currently trading at $0.214.
- Injective (INJ) token has seen a decline of more than 13% over the past week, with a trading price of $8.13.
- Oasis Network’s native token, ROSE, underwent a minor correction of 1% and is currently trading at $0.05.
- SingularityNet, an open and decentralized platform for AI services, has declined by 5% in the past seven days, bringing its value to $0.22.
- Render’s (RNDR) token fell to $1.78 following a more than 5% drop, reflecting the overall trend.
- The Graph’s native token, GRT, lost nearly 4% of its value over the past week, trading at $0.112.
While AI and its integration with blockchain technology continue to be exciting prospects, the current bearish trend of AI-related tokens should be carefully considered by investors. The market volatility and downward trajectory of these tokens indicate the need for a cautious approach in the crypto space.
Hot Take:
The decline of AI-related tokens raises questions about the sustainability of their value in the market. As the hype around AI continues, it is essential for investors to analyze the fundamentals and long-term prospects of these tokens before making investment decisions.
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