TechFlow news, cryptocurrency data provider Kaiko pointed out in a recently released report that the total market capitalization of five major AI tokens (FET, GRT, RNDR, OCEAN, and ROSE) plummeted from $170 million earlier this year to $60 million in August. Kaiko analyst Dessislava Ianeva noted that the decline in AI-related tokens was due to shifts in global risk appetite.
However, the report also indicated that certain projects have indeed attracted attention, particularly Fetch.ai (FET) and Ocean Protocol (OCEAN). Last month, open interest in Fetch.ai surged nearly 90%.
Despite a recent sharp decline in open interest, weekly trading volume for AI-related tokens significantly increased in August. After dropping to a yearly low of $570 million at the end of July, it surged to $870 million last month.
