Ethereum

David

Optimism

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/exploring-the-influence-of-ai-on-cryptocurrencys-alternate-coins" rel="noopener noreferrer nofollow">Exploring the Influence of AI on Cryptocurrency’s Alternate Coins</a><br></p>
<p style="text-align: justify">In a recent analysis by <a href="https://en.bitcoinhaber.net/exchange-woes-crypto-traders-alarmed-by-account-freezes-and-disappearing-funds" rel="noopener noreferrer nofollow">Coinbase</a>, technology specialists have delved into the influence of artificial intelligence (AI) on the cryptocurrency sector, particularly on alternate coins known as altcoins. The study indicates that the perceived value of AI-related altcoins may be overstated due to heightened excitement rather than actual use, suggesting that their value is not backed by consistent market demand over the short to medium term.</p>
<h2 id="insights-from-coinbase-s-crypto-analyst">Insights from Coinbase’s Crypto Analyst</h2>
<p style="text-align: justify">The buzz around generative AI has echoed through the cryptocurrency market’s niche segments, but Coinbase’s market analyst, David Han, points out that the swift progression of AI tech has sparked doubts regarding the enduring viability of AI-focused altcoins. Han identifies a core issue being the contrasting aims of cryptocurrency—which leans towards decentralization—and the inherently centralized nature of the current AI landscape. He also notes the struggle of AI-crypto projects to secure investment, leading to a scarce capital flow in the niche.</p>
<p style="text-align: justify">Coinbase’s study unveils opportunities for the crypto-AI space, like improving Blockchain data comprehensibility and distributing AI’s centralized structures. However, Han underlines the uncertain trajectory towards a decentralized AI reality that many crypto enthusiasts hope for.</p>
<p style="text-align: justify">Notwithstanding the skepticism, AI altcoins have recently seen greater returns than industry giants such as <a href="https://en.bitcoinhaber.net/grayscale-bitcoin-trusts-diminishing-impact-on-bitcoins-market-pressure" rel="noopener noreferrer nofollow">Bitcoin</a>, Nvidia, and Microsoft. This performance, as per Coinbase, is fueled more by general crypto market movements and AI-related media buzz than by fundamental value.</p>
<p style="text-align: justify">The narrative intertwining cryptocurrency and AI continues to gain traction, with successes in both markets reinforcing this trend. Yet, Coinbase advises that substantive and practical AI integration will be needed beyond mere decentralization efforts.</p>
<h2 id="ethereum-co-founder-s-ai-optimism">Ethereum Co-Founder’s AI Optimism</h2>
<p style="text-align: justify">In a related development, <a href="https://en.bitcoinhaber.net/ethereums-ascent-a-beacon-for-altcoin-season" rel="noopener noreferrer nofollow">Ethereum</a>‘s co-founder Vitalik Buterin has expressed a positive stance on AI’s potential to mend Blockchain network issues, particularly through AI-driven audits in the Ethereum network. He stresses this could mitigate significant technical risks. As of the latest reports, AI altcoins hold an aggregate market capitalization of over $51 billion, distinguished by their support of AI-focused projects and services, such as AI-based trading systems and decentralized AI marketplaces.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/exploring-the-influence-of-ai-on-cryptocurrencys-alternate-coins" rel="noopener noreferrer nofollow">Exploring the Influence of AI on Cryptocurrency’s Alternate Coins</a></h5>

Exploring the Influence of AI on Cryptocurrency’s Alternate Coins

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