In a recently posted tweet, cryptocurrency analyst Miles Deutscher addressed the topic of artificial intelligence and shared his predictions on how artificial intelligence will continue to expand, particularly within the crypto space. He also named an important metric by which the DOGE meme coin outperforms the entire AI crypto sector.
In a recently posted tweet, cryptocurrency analyst Miles Deutscher addressed the topic of artificial intelligence and shared his predictions on how artificial intelligence will continue to expand, particularly within the crypto space. He also named an important metric by which the DOGE meme coin outperforms the entire AI crypto sector.
DOGE Has Left All AI Cryptocurrencies Behind, ‘Big Secret’ About AI Coins Revealed
The analyst highlighted that he expects artificial intelligence and the products that will be driven by it in the future to become one of the biggest bubbles in the history of financial markets. So far, this is just getting started, he tweeted and then noted that Dogecoin’s market cap is larger than the entire AI cryptocurrency market combined.
Although he expects it to be a financial bubble, Deutscher mentioned that this sector offers “a trillion-dollar opportunity.”
Furthermore, he believes that AI coins have been “excellent representatives of major AI events and conferences,” and expects them to continue to be so in the near future as well.
The analyst also revealed that he does not believe that all “AI cryptocurrencies” contain any real AI technology. Instead, AI here is nothing more than a buzzword to generate a lot of buzz around these coins.
According to Miles Deutscher’s data, AI (which he believes is the most disruptive technological achievement of this century) currently ranks just 20th by sector size, and its overall value is slightly less than the market capitalization figure of Dogecoin.
Deutscher believes that in the coming years AI will reach 5-0 in the higher sector.
AI-Based Crypto Scams Expand Their Reach
While AI technology continues to make impressive strides daily, it is not only being taken advantage of by cryptocurrency developers, but also cryptocurrency scammers. There have been many cases where scammers generated deepfake videos featuring notable leaders of the crypto space. These include Ripple CEO Brad Garlinghouse and Cardano blockchain founder Charles Hoskinson.
The similarity to real people in these videos is striking, and Hoskinson said that in the coming years AI-generated deepfakes will become so sophisticated that it will be impossible to distinguish a fake scam from reality.
