Oh, the weather outside is frightful, but the AI agents’ performance is even more so! In the chilly month of February, new artificial intelligence agent launches on the Virtuals Protocol took a nosedive, plummeting amidst the AI token prices’ polar vortex.
With fewer than 100 new AI agent tokens braving the cold on Virtuals’ platform this February, it’s a far cry from the November highs when a thousand new pairs joined the party. Virtuals, the beloved engine for AI agents and their tokens, first deployed on Ethereum‘s cozy layer-2 network Base, is now preparing to migrate to the sunny Solana, the hub for AI token activities.
The Virtuals protocol is renowned for hosting AI agents like Aixbt, which scours social media sentiment to uncover promising cryptocurrency trades and even boasts its own X account. As of Feb. 7, AIXBT proudly sports a market capitalization of over $200 million, according to Virtuals’ very own website.
Since the dawn of time (or more like the inception of Virtuals), developers have brought over 17,000 AI agent tokens to life. But alas, only a mere hundred of them have managed to reach the lofty heights of a $1 million market capitalization. How disheartening!
Bone-chilling drawdowns!
Agentic AI tokens, which experienced meteoric rises in the fourth quarter of 2024, now find themselves among the biggest losers in the cryptocurrency market’s deep freeze since January.
These tokens, once the darlings of the AI world, have plunged as much as 90% from their 2024 highs. Top agentic AI platforms like AI Rig Complex (ARC), ElizaOS (AI16Z), and Virtuals (VIRTUAL) have seen their market caps dwindle by roughly 75% to 90% since the beginning of the year. Brrr, it’s getting cold in here!
Take the VIRTUAL token, for example. After reaching a peak market cap of over $4.5 billion in early January, it has now plummeted to around $750 million as of Feb. 7. A shiver-worthy 83% drop!
But fear not, dear readers! Agentic AIs—those complex, autonomous machines—continue to reshape the digital economy, contributing to Web3 applications, launching tokens, and interacting with humans. VanEck, the esteemed asset manager, predicts that upward of 1 million AI agents will inhabit blockchain networks by the end of 2025. So, there’s always a silver lining, right?
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2025-02-08 00:24