AI-linked cryptocurrencies have significantly outperformed the crypto market in September. According to Grayscale, this sector grew by 54% over the month, compared to 24% for the overall mark
AI-linked cryptocurrencies have significantly outperformed the crypto market in September. According to Grayscale, this sector grew by 54% over the month, compared to 24% for the overall market. Despite its still modest size, with a capitalization of around 15 billion dollars, the segment could produce several ” big winners ” over the next five years.
The convergence between artificial intelligence and blockchain is taking on a new dimension. In a note published on October 2, Zach Pandl, head of research at Grayscale, highlights the potential of AI agents, software capable of performing tasks and executing transactions autonomously.
According to him, public blockchains could play an important role in the development of this economy. They provide open infrastructures for automated payments, identity management, private computing, and data verification.
Grayscale thus estimates that the sector could produce one or more big winners within five years.
” We believe the AI sector could produce one or more big winners over the next five years “, writes Pandl.
This outlook attracts investor attention, especially as AI still represents only a small part of the crypto market. With approximately 15 billion dollars in capitalization, it remains the smallest of the six categories defined by the asset manager.
Several cryptocurrencies particularly benefited from September’s enthusiasm. NEAR leads with an increase of 183%. The project notably develops an infrastructure for AI agents, with a platform allowing software to propose and pay for tasks in NEAR.
Venice rose by 70%. This project relies on a chatbot that does not retain user queries or responses. World, up 47%, focuses on human identity verification, while Bittensor (+37%) aims to connect different networks specialized in artificial intelligence.
Grayscale also supports this sector through its Decentralized AI Fund. Rebalanced in August, this fund notably holds NEAR, Bittensor, Render, and Filecoin. Additionally, institutional interest is growing with the launch of a NEAR spot ETF in the United States and efforts underway to create ETFs linked to Worldcoin.
Despite this enthusiasm, the sector still needs to prove itself. The NEAR Intents hack, which led to a loss of 3.8 million dollars two days before the release of Grayscale’s note, particularly reminds of the risks these infrastructures remain exposed to.
Furthermore, price increases do not guarantee large-scale adoption. Projects will need to demonstrate their ability to generate revenue, secure their networks, and meet real needs.
The potential of AI-linked crypto thus goes beyond the performances recorded in September. However, its success will mainly depend on its ability to transform investor enthusiasm into sustainable use cases. For Grayscale, the coming years could therefore separate promising projects from those that actually manage to establish themselves.
