AI technology-based tokens have been gaining strong momentum for a while. From the beginning of 2023, the tokens based on artificial intelligence technology have grown significantly in demand.
The trading prices of these tokens have been gaining a lot of adoption in the overall crypto market. The data shows that the value of these tokens has witnessed significant rallies.
Even the past 24-hours have turned out to be quite exciting and promising for the entire crypto market.
Graph Token Performs Well
According to the latest market data, the Graph token (GRT) has witnessed strong gains in the past 24-hours. It is considered one of the most promising AI-related tokens that have recorded strong gains.
The trading value of the GRT token has surged by 18% in the mentioned period. The AI-based tokens have witnessed huge demand and adoption, especially after the launch of ChatGPT.
The particular chatbot is based on artificial technology and has been proven to be very useful for all kinds of users.
OpenAI’s Blog Post
The company behind the development and launch of the chatbot is ChatGPT. The firm has recently shared information in a blog post revealing more facts and details about its chatbot.
As per the officials, they have released a newer version of the chatbot, which has the capability of performing better than its previous versions.
Performance of SingularityNET (AGIX)
Another token known as SingulairtyNET (AGIX) has demonstrated strong gains in the recent trading session. The AGIX token has been launched as a utility token on the AI marketplace that is decentralized in nature.
The AGIX token has witnessed a 16% surge, making it a promising investment for the crypto market. The Big Data and the Top AI tokens have also recorded huge gains that were better than the major crypto tokens such as Bitcoin and Litecoin.
A Threat for Web3 Tokens
AI technology has made its place in the crypto industry as a new and extremely advanced segment that comes with its own tokens.
However, the token is turning out to be a threatening entity for some of the tokens and projects based in the Web3 space.
AI technology may have been around for a while but it wasn’t until 2023 that the common people could get their hands on this technology.
With the launch of chat GPT, AI technology has gained worldwide adoption and recognition. With the passage of time, AI technology is becoming more and more advanced.
As the technology grows more sophisticated, it will continue gaining more adoption, and recognition. It will continue leading the charge and things will become more promising for the investors.
Information about The Graph
The Graph exists as an indexing protocol that is open-sourced. The particular protocol is used for storing, processing, and collecting data. The platform gathers such data from multiple blockchain applications.
With the introduction of the protocol, data consumers no longer have to rely on complex infrastructure when collecting information. At the moment, it is the application developers that have to go through such a hassle.
The platform is collecting data for multiple blockchain networks for the convenience of the users. The blockchain networks include IPFS, Moonbeam, Fantom, Celo, Avalanche, Polygon, Optimism, Arbitrum, Near, and Ethereum.
Annual Grants Report
The teams at the foundation are determined to introduce more advancements in their protocol and infrastructure in near future.
Just this last Thursday, the teams at the foundation released the report for annual grants. In the report, the company has shared the growth outlook for the company and its protocols.
The team is determined to introduce many improvements and developments into their ecosystem to make it more user-friendly.
As of February 2023, the overall market capitalization of The Graph has surpassed the $1 billion mark. This clearly suggests that the ecosystem of the protocol is growing larger over time.