In the world of cryptocurrency, Artificial Intelligence (AI) associated tokens saw substantial growth within the last three months leading up to January 2, 2024, outperforming many key sectors, according to a recent report by Binance Research. AI tokens ranked second after Ethereum layer 2s in terms of performance, but finished third when memecoins were considered, as per the data presented by Cryptokoryo research via a Dune dashboard.
Six coins were classified as AI tokens within the report: SingularityNET (AGIX), Cortex (CTXC), Fetch (FET), Ocean Protocol (OCEAN), Oraichain (ORAI), and Render (RNDR). These tokens recorded an impressive combined price increase of 185% over the three-month period.
When compared with other sectors, AI tokens held their own. DeFi 2.0 tokens posted an 87% increase, GameFi reported a 109% increase, while Real-World Asset (RWA) tokens witnessed a growth of about 145%. However, Layer-2s stole the spotlight with an outstanding return of 221%.
Moreover, AI tokens even bettered major coins such as Bitcoin (BTC) and Ether (ETH) over the year. BTC wrapped up the year with a 150% increase, while ETH gained by roughly 44%. Among the group of AI coins, Fetch emerged as the top-performer in 2023 with its price surging by an exceptional 659% for the year. Fetch operates a blockchain network powered by AI programs or "Agents" and provides a marketplace for AI services.
Following closely was SingularityNET, which reported a solid 616% annual gain. The platform offers an AI services marketplace on the Ethereum network, with plans to incorporate other networks in future expansions. Other AI tokens making noteworthy strides included Ocean Protocol, with a 215% gain, and Bittensor (TAO), which logged a 191% gain.