Future

Cryptocurrency

Artificial Intelligence

Impact

Artificial Intelligence is fast becoming popular in most industries including the crypto. The thought of high-end machine learning and programming to perform advanced tasks has ignited widespread research. This led to an increase in buzzwords infused in many sectors creating positives and controversies.
AI has already left its footprint on the crypto market with investors looking forward to more trading functionalities, market utility, and analysis. On the part of developers, the technology makes things easier by scaling up programs and decentralized applications. However, there are some challenges involved pointed out by policy watchers. Here are the impact of <a href="https://coingape.com/glossary/artificial-intelligence/" target="_blank" rel="noopener noreferrer nofollow">AI</a> on the crypto market.&nbsp;
<h2 id="strong-artificial-intelligence-on-trading-strong">Artificial Intelligence on Trading</h2>
Artificial intelligence can be used to analyze large amounts of data with seamless algorithms which can help traders in some cases. AI tools can point out key market indices, trends, and technical analysis for trades. Most technologies can also be used to execute trades automatically making seamless transactions for users.&nbsp;
The machine language can help the technology source news and industry data for community spaces as well as current sentiments.
<h2 id="strong-regulations-and-security-strong">Regulations and Security&nbsp;</h2>
Authorities can leverage AI to provide an added layer of security to flush out certain types of scams. Crypto executives can also deploy the technology for a similar purpose on applications. The advanced algorithm can help with hack cases and fraud detection.&nbsp;
However, Artificial Intelligence can be wrongly used to float some advanced-level scams that can cause losses running into millions. This is a downside to the positives widespread losses can cause a decline in sentiments plunging the asset class.&nbsp;
<h2 id="strong-impact-on-ai-coins-strong">Impact on AI Coins&nbsp;</h2>
Apart from price and market analysis artificial intelligence has contributed to the growth of the market cap through <a href="https://coingape.com/ai-coins-trigger-crypto-market-rebound-whats-happening/" target="_blank" rel="noopener noreferrer nofollow">AI coins</a>. AI coins tend to surge with developments with big firms like <a href="https://coingape.com/news/stocks/nvidia-becomes-worlds-largest-stock-after-monthly-highs/" target="_blank" rel="noopener noreferrer nofollow">Nvidia</a>. This month, the chip maker became the largest company by market cap, and AI coin prices went through the roof.&nbsp;
Also Read: <a href="https://coingape.com/trending/solana-hits-double-digit-weekly-gains-is-the-bear-trend-over/" target="_blank" rel="noopener noreferrer nofollow">Solana Hits Double Digit Weekly Gains: Is the Bear Trend Over?</a>
The post <a href="https://coingape.com/trending/impact-future-of-artificial-intelligence-ai-in-cryptocurrency-market/" rel="noopener noreferrer nofollow">Impact &amp; Future of Artificial Intelligence (AI) in Cryptocurrency Market</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Impact & Future of Artificial Intelligence (AI) in Cryptocurrency Market

Table of Contents

Coingape News Media

Other articles published on Jun 28, 2024

Kraken’s Powell donates $1m to Trump to unite behind ‘only pro-crypto’ candidate

US SEC Signals Smooth Process for Ethereum ETF Approval, DOGE Whales are Buying This Altcoin For ...

MoonBag Top Crypto Presale in June 2024 flies high with its Unbeatable Presale, while Cosmos and ...

Crypto punters predict President Joe Biden’s election exit, but he vows to stay in the race

Chainlink, Avalanche, And GMX Announced The Launch Of Chainlink Data Streams On The Avalanche Blo...

Future of Crypto: The Qubetics Whitelist Scares Ethereum and Avalanche Investors in 2024 with Pro...

Join our free newsletter for daily crypto updates!