Artificial Intelligence (AI) tokens are cryptocurrencies used to power AI-related projects such as Near Protocol (NEAR), Internet Computer (ICP), Artificial Superintelligence Alliance (FET), Bittensor (TAO), Render Network (RNDR), and The Graph (GRT).
Cryptocurrency exchange Coinbase and tech giant Amazon made major AI-related announcements over the past week. Despite these developments, top AI tokens have suffered double-digit losses over the past seven days.
Major AI Announcements
Tech giant Amazon’s Alexa virtual assistant is getting an upgrade in October. A Reuters report on August 30 revealed that Alexa will be powered by Anthropic’s Claude AI model, rather than Amazon’s own AI.
Meanwhile, Coinbase CEO Brian Armstrong recently announced a major milestone in the intersection of artificial intelligence (AI) and cryptocurrency. On August 30, Coinbase successfully oversaw the first cryptocurrency transaction entirely managed by AI agents.
Armstrong describes how an AI agent used cryptocurrency tokens to interact with another AI agent and collect AI tokens. These AI tokens were used to enhance the learning capabilities of algorithms. This is essentially the beginning of automated, AI-managed transactions in the crypto space.
With the ability to use stablecoins like USDC on the Base blockchain, AI agents can now make global and instant transactions, enabling more complex tasks like booking services or managing social media.
According to CoinGecko data, AI tokens have suffered heavy losses over the past seven days. NEAR, ICP, TAO, GRT recorded double-digit losses over the past seven days. Over the past 24 hours, FET, TAO, RNDR and GRT have started to recover from the decline.
