AI (Artificial Intelligence) Tokens Were Once the Fastest-Growing Segment of Crypto Markets

Artificial intelligence (AI) tokens were once the fastest-growing segment in the crypto markets. Analysts and traders touted the potential synergies between crypto and AI

In the dynamic realm of cryptocurrency, artificial intelligence (AI) tokens quickly emerged as the fastest-growing segment, capturing the attention of analysts and traders alike. The potential synergies between crypto and AI were widely touted, with crypto AI tokens seamlessly blending AI’s utility for creating new applications with blockchain’s inherent security and transparency.

This unique combination had the potential to revolutionize the tech landscape. However, in a surprising turn of events, this narrative has shifted in recent times, resulting in substantial losses for AI tokens.

On Monday, March 10, the narrative took a different turn as the majority of AI tokens experienced a downturn. Among the most popular tokens, NEAR, FET, and AGIX saw a decrease of almost 10%.

Moreover, over the last thirty days, NEAR, FET, and AGIX have seen a decline of more than 30%, and year over year, they are down by 80%.

Among the top-performing scalable layer-1 tokens, Near Protocol (NEAR) is pivoting to AI to increase utility.

However, in recent times, the token’s performance has been lackluster, to say the least, as it had lost almost 90% of its value since January.

At the time of writing, NEAR is changing hands at $2.30 after a 9.69% decline in the past 24 hours.

Among the top-performing scalable layer-1 tokens, Near Protocol (NEAR) is pivoting to AI to increase utility.

However, in recent times, the token’s performance has been lackluster, to say the least, as it had lost almost 90% of its value since January.

At the time of writing, NEAR is changing hands at $2.30 after a 9.69% decline in the past 24 hours.

After reaching an all-time high (ATH) of $20.42 in January, the token had lost a significant portion of its value, dropping to $2.30 from a high of $20.42 in January.

At the same time, SingularityNET (AGIX) is in the red with a 9.74% loss as it trades at $0.2073.

The decentralized AI marketplace was hailed for its role in making AI more accessible. However, since its ATH, AGIX’s performance has been less than stellar, with the token losing 94.01% from its peak of $3.46.

Meanwhile, Artificial Superintelligence Alliance (FET) is down 10.28%. This token, which unites AI agent platform Fetch.ai, SingularityNET, and Ocean Protocol, was once seen as the top AI token.

But FET is now 86.37% down from its ATH in March last year, which was $3.47.

Is The AI Token Hype Over?

There are a couple of reasons why AI tokens have been struggling this year. For one, NEAR, FET, and AGIX, like other tokens, react to general crypto market trends.

Since its ATH of $109,114 in January, Bitcoin lost more than $30,000 in value.

Furthermore, trends in the AI space have been unfavorable. Notably, after the release of the Chinese open-source AI model DeepSeek, many investors questioned the potential for AI models to deliver returns for investors.

Nvidia benefited significantly from the AI hype and dropped from its ATH of $149.43 in January to its current level of $106.98.