The emergence of ChatGPT, which was launched in November 2022 and yields more than 600 million results in 0.36 seconds on Google, has created a new buzz around cryptocurrencies, with links to the AI and big data sectors.
After plunging to new lows and making decent recoveries in January, SingularityNET (AGIX), Fetch.ai (FET), and the Graph (GRT) have made awesome gains in February.
SingularityNET (AGIX) spikes more than 100%
As a blockchain-powered platform which allows everyone to create, share, and monetize services related to the AI sector, the novel token of SingularityNET, AGIX, has increased significantly in the first nine (9) days of February. AGIX opened the second month of the year with a trading price of $0.177.
On Feb. 7, SingularityNET announced via its Twitter handle that it has partnered with Cardano and has a primary focus on its HASKELL programming language. The partnership would enhance high applications for developers of Charles Hoskinson’s protocol using “MeTTa-based Domain Specific Languages” (DSLs) to allow autonomous interoperability between its artificial intelligence services.
This news culminated in a 275% rise in AGIX’s price to a monthly high of $0.6637 the following day on Feb.8 after testing a monthly low of $0.1672 on the opening day of the month.
AGIX was exchanging hands for $0.4339 in the afternoon hours of Feb.9. Overall, the token has risen 145%, as of writing.
The Graph (GRT) soars over 70%
As the novel token of the indexing protocol that queries data for networks like IPFS and Ethereum that powers several decentralized applications (dApps) and many products in the Web3 ecosystem, GRT continues to go up in February.
After opening on Feb. 1 at $0.08881, GRT benefitted immensely from the release of Messari’s report on the state of the Graph during the last quarter of 2022 on Feb. 3.
According to the report, “The Graph experienced a 66% quarter-over-quarter (QoQ) increase in GRT revenue from query fees (over 6,200% YoY.”
The positives from the report reflected positively in the price patterns of GRT. The token reached a monthly high price of $0.2286 on Feb. 8 after testing a monthly low of $0.0838 on Feb. 1.
GRT was trading for $0.1568, as of writing, had ascended by 76%, and had a market capitalization of around $1.5 billion from $818 million during the opening day of February.
Fetch.ai (FET) has gone up more than 50%
FET, the native asset of Fetch.ai, an artificial intelligence lab that is integral to the building of an open, permissionless, decentralized machine learning network within the cryptocurrency economy is among the tokens exploding in February. Thriving on positive market sentiment, FET had increased by 57%, as of writing.
After opening at $0.2757 on the opening day and reaching a monthly low of $0.2585 on the same day, the coin reached a monthly high of $0.6004 on Feb. 8.
After several traders and investors decided to take off with their gains, FET declined to around $0.4345 in the late afternoon hours of Feb. 9.
Due to a soaring crypto economy, FET’s market capitalization has risen from $237 million to more than $390 million.
Other AI and big data tokens with multiple percentage gains for investors include, but are not limited to, Oasis Network (ROSE), Ocean Protocol (OCEAN), Phata Network (PHA), and Artificial Liquid Intelligence (ALI).