The recent rise of artificial intelligence (AI) in the blockchain space has sparked a massive surge in AI crypto projects and their native tokens.
With the launch of OpenAI’s ChatGPT, generative AI, and machine-learning technologies, the potential for AI integration in blockchain is immense.
The early months of 2024 have witnessed a remarkable increase in the value of AI coins, such as Fetch.ai (FET), the Graph, and SingularityNET (AGIX), which have soared by nearly 80% in just two weeks.
AI Cryptos Surge Following OpenAI’s Sora Launch: Fetch AI Leads with 30% Gain
The recent data from CoinGecko shows an average increase of nearly 5% in AI-related tokens over the past 24 hours.
The enthusiasm in the AI space reached new heights following the launch of OpenAI’s text-to-video generator, Sora. This launch has fueled optimism among investors, who view AI as a promising avenue for growth in 2024.
Fetch AI emerged at the top among AI-based cryptos, seeing a 30% surge on February 18, 2024. The token’s market cap reached $996 million by February 20, 2024, making it the 92nd largest crypto.
FET’s upward trajectory continued post-Sora announcement, with its FET token hitting a two-year high of $1.03 on February 20.
After announcing a partnership with Deutsche Telekom, Fetch AI saw more momentum, marking a crucial corporate collaboration for the Fetch.ai Foundation.
Additionally, Ethereum co-founder Vitalik Buterin’s endorsement of AI for auditing smart contracts has increased confidence in AI coins.
Consequently, other AI cryptos have also seen impressive gains. The Graph (GRT) surged by nearly 43% in the last week, with a 60% increase over 15 days. AGIX also rose by 64% in the past week and 82% over the past month.
As these cryptos have now started to show a slight downtrend from their immediate resistance levels, many investors are looking for early-stage AI cryptos like Scotty the AI with massive upside potential.
Could Scotty The AI Surge Next After Raising $500k?
Scotty the AI is a recently launched AI crypto project that blends AI with blockchain to increase security within the crypto space. It achieves this by analyzing blockchain data to identify risks and threats, ensuring a safer environment for users.
At the heart of Scotty the AI is its native token, $SCOTTY. With a supply capped at 1.234 billion, the project offers 520 million tokens during its presale phase.
To further incentivize token holders, Scotty the AI offers staking rewards, with up to nearly 250% APY at press time available for those who lock in their tokens.
One of the project’s key features is its commitment to transparency. The creators have renounced ownership of the token contract, giving $SCOTTY token holders decision-making authority on the platform.
Looking ahead, Scotty the AI has plans to introduce a token-swapping mechanism and develop an AI chatbot. The chatbot will interact with token holders, answering crypto-related queries and improving user experience.
Currently, $SCOTTY is priced at $0.0053 in its presale, which has already raised over $510K. Interested users can stay updated by joining the Scotty the AI Telegram channel and following it on X (Twitter).
