Here’s why this Thanksgiving day, crypto investors should be thankful for Artificial Intelligence

Cryptocurrencies are prone to external influence and being impacted by trends in the market. But while some may not be for the best, i.e., meme coins, some tend to push the market only forward, and one such trend was Artificial Intelligence. 

Artificial Intelligence brings Real Profits

Artificial Intelligence (AI) was a main concern thanks to its villainous depiction in every form of media. However, that was not the case with the crypto industry. The advent of AI in mainstream channels was all thanks to OpenAI’s ChatGPT, which rose to the point where people feared losing their jobs due to AI. 

CEO Sam Altman’s creation was met with criticism, but it also resulted in the emergence of an entirely new industry, which was joined by the likes of Microsoft, Amazon, Meta, and Google. Thus, it was only a matter of time before its influence reached the crypto market, too.

ChatGPT initially took off as a platform that was mostly used for goofing around, but as it reached into the hands of skilled users who unlocked its true potential, investors started seeing the possibilities of AI as well.

Consequently, towards the end of Q2 and the beginning of Q3, AI tokens started surging and, for a time, became the best-performing assets in the market. This bullishness lasted for a while, during which cryptocurrencies such as Injective, The Graph, Render, Oasis Network SingularityNET, etc., rose 10 to 15 folds.

This bullishness eventually came to a decline in the present day, but the AI token category still remains one of the most profitable even to date, despite the recent Sam Altman fiasco wherein he was fired as the CEO of OpenAI but hired back after two days.

AI tokens that made it big

At the time of writing, among the top 15 biggest gainers year to date, three assets belong to the Artificial Intelligence category - Injective (INJ), Render (RNDR) and The Graph (GRT).

Injectives took the spot as the best performer among these assets, growing by 1,093% in the span of 11 months. The price of INJ increased from $1.26 to $15.19 at the time of writing, peaking at $18 at the beginning of November. 

INJ/USD 1-day chart

Similarly, the Render token noted an increase of 705% in its value from what it was worth at the beginning of the year. The rise from $0.402 to $3.224 today led to early investors and adopters earning significant gains on their RNDR holdings.

RNDR/USD 1-day chart

Lastly, while The Graph may not have noted skyrocketing gains, it still managed to churn good enough profits, considering it shot up by 151.5% in the span of 11 months. GRT is presently trading at $0.1384, up from $0.0564 on January 1, but at its peak on February 7, the AI token surged by 279% to trade at $0.2084.

GRT/USD 1-day chart

Thus, with Thanksgiving coming to an end, investors should be thankful for the emergence of a new industry that is bound to grow in the coming months and potentially bring immense profits along the way.