- Cryptocurrency investor Lark Davis talks about the AI cryptocurrency buzz.
- The analyst has elaborated on some of the major AI coins.
- He also highlights the utility of each of them and why they are important.
Crypto influencer Lark Davis recently tweeted about the hype of AI cryptocurrencies and the insane gains of these coins. Davis also digs deep into the utilities of these AI coins, apart from the recent ChatGPT buzz.
The Graph (GRT) is the top AI coin, according to CoinMarketCap, with a gain of 18.5% in the last 24 hours and 109% in the last 30 days. GRT is a data indexing protocol that works across 26 networks. SingularityNET (AGIX) comes in second, with a 12.54% gain in the last 24 hours and a 137% gain in the last 30 days. AGIX has an AI marketplace that is currently working on OpenCog Hyperon and can revolutionize the AI realm.
Oasis Network (ROSE) comes third on the list and has had a gain of 16% over the last 24 hours and 60% over the last 30 days. Oasis is a layer 1 blockchain that has even partnered with Facebook to assess its AI products.
Davis mentioned in his tweet thread that the AI hype is real and that we all could be looking at a massive AI bubble forming in the coming years. With Microsoft and ChatGPT creating the hype and Google diving into it, the AI game is just getting started.
Davis also cautioned investors to be cautious when chasing the hype and to take the time to look for discounts rather than buying at the peak. He also asked investors to evaluate the token models to see if they could provide long-term value.
While not as sexy, stocks probably win out here in many cases because you actually own a part of a real company.
The crypto analyst also added that owning a token is not even close to the same as owning a stock in most cases.