AI token trading volume stagnant despite Worldcoin buzz — Kaiko

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<p>While the debut of Worldcoin (WLD) 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.</p>
<p><a href="https://twitter.com/KaikoData/status/1700418768575279594" target="_blank" rel="noopener nofollow">According</a> 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.</p>
<p>Dessislava Ianeva, an analyst from Kaiko, <a href="https://twitter.com/DessislavaIane2/status/1698666630891348101" target="_blank" rel="noopener nofollow">noted</a> 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 of the biggest AI tokens, excluding WLD, dropped from $170 million in February to $60 million by August.</p>
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<p lang="en" dir="ltr">Despite <a href="https://twitter.com/hashtag/Worldcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Worldcoin</a> ‘s controversial launch at the end of July, the weekly trade volume for AI-affiliated tokens remained subdued in August. <a href="https://t.co/gq8iEgNTPG">pic.twitter.com/gq8iEgNTPG</a></p>
<p>— Kaiko (@KaikoData) <a href="https://twitter.com/KaikoData/status/1700418768575279594?ref_src=twsrc%5Etfw">September 9, 2023</a></p></blockquote>
<p>Worldcoin debuted on July 24, 2023, garnering attention from the cryptocurrency community. The buzz around the project is mainly attributed to its co-founder, Sam Altman, who also serves as the CEO of OpenAI.</p>
<p>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, aiming for a future in which individuals can interact with websites without revealing personal information like names, phone numbers or email addresses, thanks to a “global identity verification” system.</p>
<p><strong><em>Related: </em></strong><strong><em>Worldcoin signs up over 9K users in Argentina in a single day despite criticism</em></strong></p>
<p>However, global regulators and privacy advocates have raised substantial concerns 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.</p>
<p><strong><em>Magazine: </em></strong><strong><em>‘Moral responsibility’: Can blockchain really improve trust in AI?</em></strong></p>
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<br /><a href="https://cointelegraph.com/news/ai-token-trading-volume-stagnant-despite-worldcoin-buzz-kaiko-data">Source link </a></p><p>The post <a href="https://forextraderhub.com/ai-token-trading-volume-stagnant-despite-worldcoin-buzz-kaiko.html">AI token trading volume stagnant despite Worldcoin buzz — Kaiko</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>