AI token trading volume stagnant despite Worldcoin buzz — Kaiko

The data revealed an increase in the trading volume of AI tokens in August, reaching approximately $870 million, up from $570 million at the close of July.

While the debut of Worldcoin drew attention to artificial intelligence (AI) tokens, recent trading data from Kaiko indicates that AI tokens have stagnated despite the hype surrounding Worldcoin’s launch.

According to the data, the trading volume of AI-related tokens increased steadily during the past month, with an increase in the trading volume of AI tokens from $570 million to $870 million from the end of July to the end of August. However, it has decreased significantly since the beginning of 2023, when it exceeded $7 billion, and has stagnated since then.

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.

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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