According to researchers, AI-related cryptocurrencies bucked bear trends in the two months after OpenAI’s ChatGPT was launched.
by researchers at the Blockchain Research Lab in Hamburg, Germany, indicates that OpenAI’s launch of ChatGPT represented a rising tide scenario for cryptocurrency assets related to artificial intelligence.
“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% in the one-month period following the launch.”The influence of ChatGPT on artificial intelligence related crypto assets: Evidence from a synthetic control analysis.
The research cites media and marketing hype and public sentiment as mitigating factors in the rise, concluding that “investors perceived AI-related crypto assets as possessing heightened potential or value after the launch.”
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