Since the introduction and success of Open AI’s ChatGPT, the market for AI tokens has been booming. AI tokens have maintained this success despite the decline in the cryptocurrency market, maintaining green amid a sea of red. However, given that institutional investors are entering the market with Artificial Intelligence technologies, this performance could only be getting started.
According to a recent JP Morgan poll, institutional investors are spending heavily on AI technologies. The poll, which included 835 institutional traders across six worldwide markets, revealed very significant interest in AI from major investors.
According to JP Morgan’s most recent survey, institutional investors’ attitudes toward AI have significantly improved from the 25% of investors who previously disclosed they were investing in the technology to 53% of all institutional investors. A growing interest in machine learning technology was concurrent with a growing interest in AI.
Blockchain and distributed ledger technologies, as well as AI integration, attracted interest from institutional investors. 14% and 12% of the respondents, respectively, said they had invested in each of these. However, despite the clear interest in blockchain technology, a surprising proportion of investors were not interested in trading cryptocurrencies.
Evidently, just 8% of these investors engaged in cryptocurrency trading. 72% of traders said that they “had no intentions to trade crypto/digital coin,” while 14% of respondents stated that they do not now trade but aim to do so in the upcoming year.
AI tokens like FET and AGIX have already been gathering traction over the past several weeks. These digital assets have increased in value by over 100% on average, moving from being relatively unknown to some of the best-performing tokens in the market.
AGIX from SingularityNET, which has increased by more than 28% just in the past 24 hours, is presently the top gainer on the data aggregation website Coinmarketcap. Following closely behind in second place with gains of 12% during the same time period is GRT from The Graph. Other well-known AI tokens including FET, NMR, and ALI have also had double-digit rises recently.
On a rolling 7-day basis, the majority of AI tokens on Coinmarketcap are still in the green, with several even seeing double-digit gains. The AI tokens are showing no signs of slowing down despite their already spectacular growth, and the support from institutional investors at this point will only help to advance the area.