My Learnlist: Coming Soon!
My Learnlist: Coming Soon!

Learn by real-life examples: Select, Track & Understand any cryptos with the unique Learnlist feature!

Notify Me!
Portfolio: Coming Soon!
Portfolio: Coming Soon!

Set your wallet & get powerful insights backed by data. Easily learn how to use it for your highest rewards!

Notify Me!

ChatGPT's Launch Spurs Notable Growth in Artificial Intellegance-Linked Crypto

ChatGPT's Launch Spurs Notable Growth in Artificial Intellegance-Linked Crypto

After the launch of ChatGPT, the value of some AI-related tokens surged by over 40%.

The introduction of ChatGPT by OpenAI has led to a significant surge in the value of cryptocurrencies related to artificial intelligence (AI).

The phenomenon was noticed by the Blockchain Research Lab in Hamburg, Germany.

What is Web3? (Animated Explanation + Examples)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is Web3? (Animated Explanation + Examples)

What is Web3? (Animated Explanation + Examples) What is Web3? (Animated Explanation + Examples)

ChatGPT was introduced to the public in November 2022 and quickly gained monumental popularity, setting a new record as one of the fastest-expanding online platforms ever seen.

The platform managed to attract over a million daily users within its first week, and by January 2023, it had over 100 million users per month. As of June 2023, exact user statistics are yet to be released by OpenAI, but some sources speculate that the figure might have crossed the 1 billion mark.

Such tremendous growth of the ChatGPT platform had ripple effects across various AI-related sectors, and the realm of cryptocurrency was no exception. The researchers assert:

The ChatGPT launch had a significant impact on the performance of AI-related crypto-assets, despite the overall cryptocurrency market being in a bearish state and risk-averse investor appetites. Using synthetic difference-in-differences, we found average price increases of at least 10.7% (35.5%) in the one-month (two-month) period following the launch.

Therefore, it's evident that ChatGPT's launch had a profound impact on the performance of AI-linked cryptocurrencies, even amidst a rather bearish overall cryptocurrency market.

Furthermore, the lowest observed increase in the value of these crypto assets was 10.7% and 35.5% during the first and second months after the launch, respectively. In contrast, the highest recorded increase reached around 15.6% and 41.3% over the same periods.

The study attributes the cause of this surge to a combination of media attention, marketing buzz, and the general public's positive outlook.

It was inferred that after ChatGPT's launch, "investors perceived AI-related crypto assets as possessing heightened potential or value." 

The launch of ChatGPT by OpenAI marked a turning point in the valuation of AI-related cryptocurrencies, emphasizing the profound influence of AI advancements on financial markets. The study also highlights the critical role of educational tools like ChatGPT in enhancing investor understanding and participation in complex areas such as cryptocurrency trading.

In other AI-related news, politicians in the United Kingdom are urging to implement licensing for developers working on artificial intelligence-related systems.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.



Earn Huge Exclusive Binance Learners Rewards