ChatGPT Vs Google: Which Crypto Tokens Will Fail?
Alphabet Inc., Google’s parent firm, saw its stock drop by about 8% on February 8, 2023, when interest in artificial intelligence chatbots peaked. Traders are panicking over OpenAI‘s ChatGPT, which is a major factor in Google’s massive loss.
Since ChatGPT entered the scene, several AI-related crypto tokens have risen to the top of the cryptocurrency market. As rivalry between Google and OpenAI heats up in the coming months, it is expected that the AI tokens will continue to gain popularity. Artificial intelligence-based advancements, on the other hand, require far less time to perfect. Traders here are thinking about how cryptocurrencies and artificial intelligence might work together.
Since January 2023, the number of people looking for information about “crypto AI” online has skyrocketed. There has been a direct correlation drawn between this trend and the rise in popularity of cryptocurrencies with applications in the field of artificial intelligence.
Future of AI Crypto Tokens
Google Bard, an AI-driven chatbot, will soon be released, the company has said. Due to the unexpected popularity of AI chatbots like ChatGPT, Google is working hard to release its own version of the program as soon as possible. The Graph (GRT), a token number 40 by market size, has seen its value more than double in the past week because to the increased demand for AI tokens.
The value of Big Data Protocol (BDP), a cryptocurrency with a small market cap, has increased by a factor of 10 in just the past week.
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How About Those Other Altcoins?
Other altcoins that don’t have an AI business case may not benefit from the new interest and liquidity from retail and institutional traders if the hype surrounding AI tokens continues to grow. It is, however, unclear how long the market’s enthusiasm for AI tokens would last. Are tokens backed by artificial intelligence the next memecoins? Or it will become a snare for the unwary.