AI-related tokens show resilience despite Worldcoin controversy


This article has been republished with permission from Binance News.

According to Cointelegraph, recent trading data from Kaiko indicates that artificial intelligence (AI)-powered tokens have shown resilience despite the controversy surrounding the launch of Worldcoin. The trading volume of AI-related tokens remained stagnant during the past month, with a moderate increase in the trading volume of AI tokens last month, reaching approximately $870 million, up from $570 million at the close of July. However, when compared to the volume at the beginning of the year, there was a significant decrease.

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. Worldcoin (WLD) made its debut on July 24, 2023, garnering attention from the cryptocurrency community, but has experienced a decline in the past 24 hours, with its trading price resting at $1.09.

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. However, 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.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *