AI tokens suffer heavy losses even as Coinbase, Amazon announce major developments in Artificial Intelligence

Artificial Intelligence (AI) tokens are cryptocurrencies used to fuel AI-related projects like Near Protocol’s NEAR, Internet Computer (ICP), Artificial Superintelligence Alliance (FET), Bittensor (TAO), Render (RNDR) and The Graph (GRT). 

Crypto exchange Coinbase and technology giant Amazon made key announcements pertaining to AI in the last week. Even as these developments come to light, top AI tokens suffered double-digit losses in the last seven days, per CoinGecko data. 

Amazon and Coinbase make key AI-related announcements 

Technology giant Amazon’s virtual assistant Alexa is due for an upgrade in October. A Reuters report from August 30 shows that Alexa will be powered by Anthropic’s Claude AI model, rather than Amazon’s own AI. 

Coinbase CEO Brian Armstrong announced that the exchange witnessed its first ever AI-to-AI crypto transaction, where one bought AI tokens from the other. Armstrong said in a tweet that the significance of the transaction was that crypto was used to make it happen. 

Armstrong said that AI can make free USDC transactions on Base, in a recent tweet thread on X. 

AI tokens suffered heavy losses in the last seven days per CoinGecko data. NEAR, ICP, TAO, GRT noted double-digit losses in the last seven days. In the last 24 hours FET, TAO, RNDR and GRT started their recovery from the decline. 

AI tokens returns for last seven days