Since the launch and popularity of Open AI’s ChatGPT, AI tokens have done very well in the market. This performance continued even as the crypto market retreated with AI tokens remaining green in a sea of red. However, this performance may have started because institutional investors are throwing their hats at Artificial Intelligence technology.
Institutional Investors Bet Big On AI Technology
A recent JP Morgan survey has revealed that institutional investors are going big on AI technology. A survey of 835 institutional traders across six global markets shows a very clear interest from large investors when it comes to AI.
Institutional investor sentiment towards AI has now increased dramatically from 25% of investors who previously said they invested in the technology, to 53% of all institutional investors, according to JP Morgan’s latest survey. In addition to the growing interest in AI, there is also a growing interest in machine learning technology.
Other technologies that are attracting the interest of institutional investors are the integration of AI, as well as blockchain and distributed ledger technologies. Both of these saw 14% and 12% of respondents saying that they had invested. But interestingly, the number of investors who are not interested in trading cryptocurrencies is quite high, despite the obvious interest in blockchain technology.
Apparently, only 8% of these investors actually trade cryptocurrencies. 72% of traders said they “have no plans to trade crypto/digital coins,” while 14% of respondents said they plan to start trading in the next year but are currently not participating.
AI Token Wins Big In Crypto Market
Over the past few weeks, AI tokens such as FET and AGIX have gained ground. These digital assets have amassed over 100% each, going from relative obscurity to some of the best tokens out there.
SingularityNET’s AGIX is now the top gainer on data aggregator website Coinmarketcap after rising more than 28% in the last 24 hours. GRT from The Graph followed in second place with a 12% gain over the same period. Other notable AI tokens including FET, NMR, and ALI all saw double gains in the last day.
AI tokens top gainers list | Source: Coinmarketcap
Looking at AI tokens on Coinmarketcap on a 7-day rolling basis, the majority of coins are still in the green, some even seeing double-digit growth this time around. Despite its already impressive growth, AI tokens show no signs of slowing down and the support of institutional investors at this time will only help the space move forward.
AGIX price continues to show bullish tendencies | Source: AGIXUSD on TradingView.com