# Does Crypto's Top AI Project Work?

*Author: Bankless*
*Published: Apr 4, 2024*
*Source: https://www.bankless.com/fr/does-cryptos-top-ai-project-even-work*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/04/Frame-50474--12-.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=bittensor-crypto-vaporware-tao&email=true)

  

   Does Crypto's Top AI Project Work?
  

  
  Published on Apr 4, 2024

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
  L2s to $1 Trillion?
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/04/Group-14--71-.png)](https://www.bankless.com/dashboard)- 📈 **L2s to boom? **In a new report, VanEck analysts [predicted](https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vanecks-ethereum-layer-2s-valuation-prediction-by-2030/) that the valuation of Ethereum's Layer 2 ecosystem could grow past $1T by 2030, driven by future cash flows. 
- 💸** PYUSD goes global. **PayPal announced that U.S. clients can now use its stablecoin for [fee-free international transfers](https://www.theblock.co/post/286513/us-paypal-customers-will-be-able-to-use-stablecoin-for-international-payments) via Xoom to 160 countries, aiming to undercut high global transfer costs.
- 🌾 **Pendle cracks $4B. **Pendle, one of the hottest yield platforms in DeFi, is now decidedly one of the space's largest projects upon breaching through [$4B in total value locked](https://defillama.com/protocol/pendle) (TVL).  

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      TODAY IN MARKETS
    
    
  
  
    
    DeFi Rides the Ethena Wave
  
  

  

 
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/04/image---2024-04-04T165425.886.png)](https://www.bankless.com/ethena-defi-wave-usde)**📊 Synthetic Dollar Surge.** Ethena’s assets are being rapidly adopted across crypto! *Why are protocols desperate to incorporate USDe, and what impacts have integrations had on token price?*

[Read More Free on Bankless.com](https://www.bankless.com/ethena-defi-wave-usde)

Prices as of 5pm ET
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    ANALYSIS

  
  
    
   
Does Crypto's Top AI Project Even Work?
  
  
   
     
     Bankless Author: 
     
      [
       
       Arjun Chand](https://twitter.com/arjunnchand)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/04/image---2024-04-04T152927.659-1.png)](https://www.bankless.com/bittensor-crypto-vaporware-tao)**AI x Crypto is the talk of the town. ***It’s one of the *[*hottest investment themes*](https://www.bankless.com/the-2024-bull-run-narrative-glossary)* of this bull market. *

Bittensor (TAO) is one of the leading projects of the AI narrative, both in terms of market cap and mindshare. But recently, there’s been a bit of a stir on Crypto Twitter about its utility, with some even calling it vaporware and a [pointless exercise in decentralization](https://x.com/ercwl/status/1773796070012649569?s=20).

But hey, there are always two sides to every coin. While critics have been vocal about their doubts concerning Bittensor and its design, we're focusing on the brighter side today.* Let's dig in* 👇

[Read on Bankless.com](https://www.bankless.com/bittensor-crypto-vaporware-tao)
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