OCEAN, GRT, FET: Artificial Intelligence projects with high developer activity

Bitcoin’s (BTC) price rally catalyzed gains in several other tokens, fueling narratives like Artificial Intelligence (AI), Layer 2 chains, and meme coins. Alongside Bitcoin’s recent surge, the rising development activity in AI tokens is likely to become a catalyst that could drive gains for these assets.

Also read: Bitcoin and Ethereum funding rates surge to over two-year highs as bullish bets get costlier

Crypto AI tokens with high developer activity

On-chain analysts at crypto intelligence platform Santiment consider development activity a key metric for a project’s growth and relevance among market participants. Projects with high development activity tend to have a higher utility, driving adoption and eventually observing price gains. 

Data from Santiment shows that the following AI projects observed the highest development activity in February: Ocean Protocol (OCEAN), Oraichain (ORAI), The Graph Protocol (GRT), Bittensor (TAO), Fetch.AI (FET), Cortex (CTXC), PlatON (LAT), Numerai (NMR), and Vaiot (VAI)

Among the top projects, Ocean Protocol recently unveiled its roadmap for 2024. Early on Thursday, OCEAN outlined plans to focus on an AI-powered prediction bot, Predictoor. 

The Graph also shared an update with community members, dropping details of the volume of GRT tokens staked. A total of 2.94 billion GRT have been staked as of February 26, and the project is gearing up for workshops at the ETH Denver event. 

While Render (RNDR) was considered the lead token in the AI narrative, according to Messari’s Q4 2023 report, Bittensor (TAO) has taken over the position with its partnerships and developments, consistent with the Artificial Intelligence narrative.

Profits from Bitcoin’s rally to $64,000 are likely to rotate into projects with relevance and utility for market participants. AI tokens build a strong use case with their focus on prediction markets, data security, and privacy.