Part 3/9:
Given that the crypto realm is inherently digital, AI agents are ideally suited for applications like portfolio management and market analysis, igniting investor enthusiasm. As AI-related projects surged, many took advantage of the hype, inundating the market with new AI agent launches almost daily.
The Recent Downturn
Despite the promising nature of AI agents, the past few weeks have revealed a concerning trend. Major developments that historically would have catalyzed growth have hardly affected AI cryptos' value. The Ethereum Foundation's leadership changes and developments in AI-focused projects—including one led by a notable Bitcoin advocate—failed to rally investor interest as one would expect.