AI token trading volume stagnant despite Worldcoin buzz – Kaiko data
While the debut of Worldcoin drew attention to artificial intelligence-powered tokens(AI-tokens), recent trading data from Kaiko indicates that these AI tokens have shown resilience despite the controversy surrounding Worldcoin’s launch.
According to recent Kaiko data, the trading volume of AI-related tokens remained stagnant during the past month. The examination revealed a moderate increase in the trading volume of AI tokens last month, reaching approximately $870 million, up from $570 million at the close of July. Nevertheless, when compared to the volume at the beginning of the year, there was a significant decrease.
In the same vein, Dessislava Ianeva, an analyst from Kaiko, noted that enthusiasm for AI tokens began to diminish in July, primarily due to a change in global risk sentiment. The total open interest for five major AI tokens, namely FET, GRT, RNDR, OCEAN, and ROSE, dropped from $170 million in February to $60 million by August.
Despite #Worldcoin ‘s controversial launch at the end of July, the weekly trade volume for AI-affiliated tokens remained subdued in August. pic.twitter.com/gq8iEgNTPG
— Kaiko (@KaikoData) September 9, 2023
Worldcoin (WLD) made its debut on July 24, 2023, garnering attention from the cryptocurrency community. The buzz around this crypto is primarily attributed to its co-founder, Sam Altman, who also serves as the CEO of OpenAI. However, as of the current moment, Worldcoin (WLD) has experienced a decline in the past 24 hours, with its trading price resting at $1.09
Worldcoin’s primary objective is to create a network comprised solely of genuine individuals, excluding automated bots. The San Francisco-based firm plans to issue ‘World IDs’ to people worldwide, aiming for a future in which individuals can interact with websites without the need to reveal personal information like names, phone numbers, or email addresses, thanks to a “global identity verification” system.
Related: Worldcoin signs up over 9K users in Argentina in a single day despite criticism
Nonetheless, global regulators and privacy advocates have raised substantial apprehensions regarding the initiative, pointing to what they see as a lack of clarity in the organization’s data gathering procedures. The aggregation of extensive personal data by a solitary entity gives rise to substantial apprehensions about data privacy.
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