• AI tokens market cap dropped 29.33% in 30 days, despite growing web3 adoption.
• Global crypto users reached 659 million, showing rising adoption.

While Web3 adoption hit new highs, AI-focused tokens fell hard. This divergence between the two signals major decoupling between AI tokens and wider Web3 usage. 

Web3’s rocket fuel isn’t lifting AI coins — yet

Over the past 30 days, the AI token market capitalization dropped by 29.33% to $26.72 billion. For starters, Bittensor [TAO] declined by 29% over the past month, recording losses across all the charts.

Equally, TAO’s Market cap declined by 4.24%, while the trading volume also dropped by 14%, reflecting strong downward pressure. 

Near Protocol [NEAR] declined by 27.12% over the same period, with its market cap declining by 4.45%. 

In fact, Artificial Superintelligence [FET] dropped by 25.68%, and Render [RNDR] dipped 32.8%. These losses recorded across the market signify a shift in investor behavior. 

And yet, adoption metrics flash green

Interestingly, while AI coins are declining, Web3 adoption is skyrocketing. Web3 adoption is rapidly growing, driven by the perceived potential of decentralized technology. 

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Author: Gladys Makena

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