AI-Related Crypto Returns Surge by 41% Following Launch of ChatGPT: Report

A recent study from the Blockchain Research Lab in Germany revealed that the launch of ChatGPT, a web platform developed by OpenAI, led to a significant rise in AI-related cryptocurrency assets, despite the overall market being in a bearish state in 2022. The app reached one million daily users in just five days after launching in November 2022 and hit the 100 million monthly users mark by January 2023. Although OpenAI hasn’t shared any official user statistics, estimates suggest that the number may be as high as one billion. The popularity of the app had a positive impact on all things AI, with cryptocurrency assets related to AI seeing a rise in value. The study found that the average price increase of AI-related crypto assets was at least 10.7% and 35.5% in one and two-month periods after the ChatGPT launch. The study linked media hype, marketing buzz, and public sentiment to the rise, suggesting that investors perceived AI-related crypto assets as possessing heightened potential or value after the debut of ChatGPT.