- As demand for AI tokens surges in the ChatGPT vs. Google dispute, several cryptocurrencies are losing value.
- Other cryptocurrencies with non-AI use cases may lose retail and institutional traders due to high expectations for AI tokens.
Due to the ongoing ChatGPT vs. Google conflict, some cryptocurrencies are losing value as demand for particular artificial intelligence tokens rises.
The excitement surrounding AI chatbots caused Alphabet Inc., Google’s parent company, to experience a market value loss of nearly 8% on February 8, 2023. The traders’ anxiety regarding OpenAI’s ChatGPT, a competing offering, is what caused Google to sustain such a significant loss.
The quantity of searches for “crypto AI” has significantly increased since January 2023. As a result, interest is growing in cryptocurrencies that use artificial intelligence.
The Potential of AI Crypto Tokens is Outstanding
Other Coin Alternatives That Will Fail?
Given the high expectations for AI tokens, other cryptocurrencies with non-AI use cases may miss out on inbound attention and liquidity from retail and institutional traders. The market’s fascination with AI tokens, though, is not certain how long it will last. Memecoins from the forthcoming bull run: Are they AI crypto tokens? Or will it ultimately prove to be a trap?
