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Coinbase believes AI tokens value may be overstated: Bittensor, Akash Network, Render, Worldcoin

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Coinbase, one of the largest crypto exchanges in the world, published a market intelligence report that addresses the recent gains in Artificial Intelligence (AI) tokens like Bittensor (TAO), Akash Network (AKT), Render (RNDR), and Worldcoin (WLD).

Artificial Intelligence tokens may lack sustainable demand side drivers in the medium to short term, according to Coinbase. The exchange’s recent market intelligence report states that value potential for most AI tokens is likely overstated. TAO, AKT, RNDR, WLD find mention in Coinbase’s report, prices decline slightly on Friday.

The exchange’s analysts believe that the rally in AI tokens is likely catalyzed by the attention that the industry received recently, but this may not be sufficient to drive consistent gains in the native tokens of AI protocols like Bittensor, Akash Network, Render and Worldcoin. The report reveals that while there was an initial uptick in Akash Network in number of users year-to-date, this was largely driven by increased usage of their storage and compute resources.

 

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