Grayscale research team establishes the Artificial Intelligence Crypto Sector.
This encompasses 20 tokens with a total market cap of $21 billion.
A fourfold increase compared to the $4.5 billion in Q1 of 2023.
The AI and crypto sectors are blending this bull cycle, and RWA and AI tokens are expected to be some of the most bullish tokens in the coming altseason peak phase. Amid the growing buzz for AI coins, the Grayscale research team announces the establishment of the ‘Artificial Intelligence Crypto Sector’. This marks the sixth major crypto sector, encompassing 20 tokens with a total market cap of $21 billion.
Grayscale Research Team Established the Artificial Intelligence Crypto Sector
In an official article, Grayscale confirms the establishment of the Artificial Intelligence crypto sector. The firm says that the need was imminent, as rapid growth and development of decentralized AI have blown up over the last two years. The post confirms that Artificial Intelligence will be a sixth Crypto Sector and will include tokens previously included in other market segments, with all other index criteria remaining the same.
https://twitter.com/WuBlockchain/status/1927554568579170553
Calling Artificial Intelligence (AI) likely the most consequential technology of the 21st century, Grayscale says that it was imperative to decentralize AI to avoid raising concerns seen within centralized control. Centralized control over its development, however, has raised growing concerns. Blockchain technology presented the perfect solution allowing the two sectors to grow together in a united front.
In detail, Grayscale research uses its proprietary Crypto Sectors framework to organize the crypto asset class. Specifically, the entity says that Crypto Sectors are akin to the Global Industry Classification Standard (GICS) system for public equities. Thus, in partnership with FTSE/Russell, Grayscale aims to also make available rigorous benchmark indexes for monitoring price returns across each market segment.
About 20 AI Tokens Show Bullish Signs
The AI sector is rapidly expanding within the crypto and blockchain space. The AI crypto pilot app Alva says that the Grayscale research team’s move to establish the Artificial Intelligence Crypto Sector has validated the narrative of the rapid growth of the AI sector in web3. In fact, the app concludes that Grayscale’s move has poured fuel on an already hot trend and that AI tokens are set to soar drastically.
Therefore, AI tokens like TAO, NEAR, RENDER, and FET are printing explosive signals that could lead to parabolic pumps and bullish gains in the coming weeks and months ahead. Additionally, Google Trends and Santiment show ‘AI Agents’ peaking in search traffic, outpacing memes, while TAO and VIRTUAL lead in ‘social dominance’. All technical analysis point to bullish momentum readings surging, multi-month highs, and support levels holding, but as always, when it comes to crypto, with great caution.
