Binance Reveals AI Tokens Outperform BTC and ETH With up to 650% Yearly Gains
Binance Research has found that artificial intelligence (AI) coins in 2023 saw notably larger gains than crypto giants bitcoin and ethereum. At the same time, funding for AI-related Web3 projects has surged.
According to a report by the research arm of the Binance exchange, AI tokens benefited from a rise in interest in the sector. Over both the past quarter and last year, AI tokens “experienced a significant surge” and outperformed the broader market.
They ranked as the second-best-performing category over the last three months.
What’s more, they outperformed the world’s two largest coins in 2023. By the year’s end, BTC saw a 150% gain, while ETH saw 44%.
Meanwhile, the report said,
“The top five AI coins by market capitalization significantly outperforming BTC and ETH, culminating in gains ranging from 200% to 650% in 2023.”
However, Binance Research also stressed that BTC and ETH have much larger market capitalizations compared to AI tokens. Therefore, the two registering smaller gains in terms of percentage is not surprising.
The comparison is just meant to show the recent strong performance of and interest in AI coins.
The massive surge in AI token prices and Google search trends clearly indicate an increase in interest in AI over the last few months. AI chatbots (particularly ChatGPT), new AI tools, and media coverage are among the factors that have contributed to this rise.
Subsequently, AI has “started to reshape the crypto landscape.” Besides AI tokens, this can be seen in practical use cases as well.
“The fusion of these two disruptive technologies has quickly risen to a prominent narrative within the industry.”
This has naturally led to the development of AI-related crypto applications. Consequently, it is likely to
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