Amid the major frenzy surrounding the Crypto AI projects in recent weeks, crypto exchange Coinbase has issued strong warnings stating that the mega rally in several artificial intelligence crypto projects is more of a hype instead of the actual utility.
Crypto AI Projects Face Major Hurdles
According to a report authored by David Han, a research analyst at Coinbase, the projects encounter formidable competition and technical obstacles that could significantly impede their progress. Han wrote:
“Our contrarian view is that the value potential for many AI tokens may be overstated as a result of broad attention on the AI industry, and that many AI tokens may lack sustainable demand side drivers in the short to medium term”.
He further added that Crypto AI products face “an uphill battle against broader market and regulatory forces”. Coinbase asserts that the technical hurdles linked with decentralized networks, which constitute the core concept of crypto-AI projects, will further c
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