AI-Related Tokens Surge Over 300% in Weekly Trading Volume Amidst OpenAI Leadership Changes

Over the past week, the trading volume of tokens associated with artificial intelligence (AI) projects has surged by more than 300%, reaching $4.13 billion, according to data from the analytical service CryptoRank. The market capitalization of tokens in this category has also experienced significant growth, increasing by 120% to surpass $3.49 billion.

Leading the growth among AI-related cryptocurrencies is the token of the Bittensor project (TAO), which saw an 80% increase in its price over the week. TAO has experienced over a fourfold price increase in the past month. Bittensor users earn TAO tokens for participating in the project’s collective machine learning model.

SingularityNET’s token (AGIX), representing the “first decentralized AI marketplace” on the Cardano blockchain, increased by 16% in a day. The Fetch.ai (FET) token, associated with a platform utilizing machine learning algorithms, rose by over 14%, and the token OCEAN, used by the data economy project Ocean Protocol, increased by 11%.

This surge in interest around AI tokens coincides with the news of the decision by OpenAI’s leadership, the organization behind the ChatGPT AI chatbot, to remove Sam Altman from the CEO position. The token of the Worldcoin project (WLD), associated with Tools for Humanity, a company owned by Altman, experienced a sharp decline of over 10% following the news of his departure, trading at $2.32 as of 10:00 AM Moscow time.

Bitcoin (BTC) is currently priced at $37.2 thousand, Ethereum (ETH) has returned to $2 thousand, Binance Coin (BNB) is at $246, and Ripple (XRP) is valued at $0.61.