Today in Markets

Are AI Tokens Ready to Rip?

Investors are bringing AI fervor to crypto markets.
Jack Inabinet Jack Inabinet Jan 25, 20242 min read
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market analysis Are AI Tokens Ready to Rip?

Chip designer Nvidia is off to a strong start in 2024, posting gains of 27% and upping its market cap by $320B, an increase equivalent to one-fifth of the size of the total crypto market! What crypto play has given investors exposure to AI upside?

Bittensor (TAO) has been a top performer among AI tokens, up 47% on the week and 80% from its 2024 low.

$TAO via CoinStats

Traditional AI models created by private companies, like OpenAI and Google, are built using centralized computing resources. In this paradigm, work is disconnected and non-collaborative, and as closed-source models are unable to share work with each other, competition becomes zero-sum, favoring winner-take-all outcomes.

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Jack Inabinet

Written by Jack Inabinet

242 Articles View all      

Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business and remains based out of the Seattle area.

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