the best cryptocurrencies on artificial intelligence (AI)

In this article we take a look at Bitget’s latest report on the artificial intelligence sector and see which have been the best performing AI cryptos from February 15th until today.

Since Nvidia released the data on Q4 2023 quarterly results, exceeding all expectations, all US tech stocks and AI-themed cryptocurrencies have seen a sharp increase in demand in the markets, with prices soaring.

Meanwhile, as technologies based on artificial intelligence and automated content creation tools evolve, cases of crypto scams and video scams are becoming increasingly common.

All the details below.

Crypto and artificial intelligence: Bitget’s analysis showcases the best performing AI tokens in recent days

According to the latest AI-themed report from the crypto exchange Bitget, AI sector tokens have recently shown a particularly bullish graphical behavior compared to the rest of the cryptocurrencies.

In particular, we see how the daily trading volume for the cryptocurrencies belonging to the so-called “AI Zone” of Bitget has increased by 361% from February 15th to 20th.

It is worth noting how the volumes were even higher compared to those recorded during the beginning of the year frenzy.

At the same time, the number of users who have carried out operations in the same category of digital products is also increasing, with data showing a 136% increase.

Trying to be more specific, in the last few days the top performing cryptos in Biget’s AI Zone have been WLD, ARKM, LPT, GRT, and AGIX.

In detail, the currency of the Worldcoin project by Sam Altman has shown all its potential in the last two weeks, going from 2.4 dollars to the current 8.7 dollars, for an increase in prices of about 250%.

ARKM of Arkham software intelligence companies has recorded the same trend as the previous currency, with a growth of around 190%: from $0.60 the value of the AI crypto has reached over $1.70 with bulls still showing their strength today.

LPT instead, belonging to the Livepeer Network project, had a different price action: during the week of February 12-18, the crypto had a crazy price increase of 139%, only to see a small contraction in the following week.

The GRT coin of The Graph’s on-chain data indexing project, highly correlated to the artificial intelligence token index, is in the midst of a very aggressive rally, with prices aiming for new local highs despite having grown by 74% in just a few weeks.

Finally, the AI AGIX services token, from SingularityNET, recently reached its highest point in the last two years of trading, following a pump of over 150%.

It is also worth noting how the crypto RLC, BLZ, and AI have moved very well compared to the rest of the crypto market, with positive movements above average.

Below is a chart illustrating the top performing tokens in the Bitget AI Zone in the last 7 days:

From January onwards, all the coins included in this index have recorded a 58% increase in market capitalization, driven by the enthusiasm generated by the development of the OpenAI Sora project.

The rally of the last few days instead seems to be supported by news related to the financial reports of the leading microchip company Nvidia, which on Wednesday, February 21st, amazed the whole world by marking profits well above expectations.

With revenues of $18.4 billion, up 409% from the previous year, Nvidia has supported the rise in the tech stock markets in the United States and obviously also that of cryptographic tokens focused on artificial intelligence.

Crypto scam on the rise with the evolution of the AI sector

While at a speculative level AI-themed cryptocurrencies are showing encouraging performances that bode well for the future of the sector, cases of scam coins and scams created with artificial intelligence and deepfake techniques are also increasing visibly.

Already in 2023, the discussion about token scams was taking an unusual turn, with dozens of shitcoins whose tickers contained words like “CHATGPT” and “OPENAI” falsely alluding to a possible connection with Sam Altman’s company.

Today, the proliferation of tokens containing terms related to projects based on artificial intelligence is reaching an uncontrollable level: considering scam tokens present on Dextools that contain the two words mentioned above, we see that these have more than doubled in a few months, going from 700 trading pairs in June 2023 to the current 1470.

Another negative complication that has emerged with the evolution of artificial intelligence systems and the emergence and spread of deepfake videos depicting well-known figures in the crypto world making false statements, with the intention of deceiving less attentive users.

The AI tools for generating content have indeed reached the point of being able to faithfully reproduce the facial features of various celebrities, managing to create deceptive videos that attempt to extort money from victims.

This is demonstrated by the fact that in January Michael Saylor, founder of the software intelligence company Microstrategy, revealed to be in a constant battle with the increasing cases of deepfake content portraying his face.

Every day, as stated by himself, about 80 new scam videos pop up like mushrooms, which invite to donate BTC to his address to double the balance, contain malware or refer to fraudulent projects.

In 2022 we witnessed a similar trend with deepfake videos portraying billionaire Elon Musk dealing with fake cryptographic tributes, containing words like Dogecoin, Bitcoin, Tesla, etc.

Recently, several fake videos have circulated in which the protagonist was Anatoly Yakovenko, co-founder of Solana as well as a famous public figure in the crypto world. While SOL and the Solana ecosystem were growing rapidly, scams based on the same topics were also starting to multiply.

In recent days, deepfake videos featuring Larry Fink have also emerged. The CEO of the well-known investment fund BlackRock is seen inviting stakeholders to scan a QR code and donate BTC in exchange for double the coins or alleged NFTs.

For those who work daily in the crypto sector, these scams created with AI are easily identifiable and filterable from the rest of legitimate news.

The problem of spreading this content is that less experienced users and beginners in the cryptographic industry could easily fall victim to scams.

As the world of artificial intelligence grows, making giant strides in multiple fields of everyday life, it is necessary that measures be taken as soon as possible to stop this social plague.