Grayscale research head Zach Pandl said the AI crypto segment rose 54% in September, well ahead of the broader crypto market’s 24% gain over the same period. Even after that move, the segment’s total market capitalization stands at only about $15 billion, making it the smallest of the six crypto sectors defined by Grayscale. Among the tokens highlighted by the firm, NEAR climbed 183% in September, Venice (VVV) gained 70%, World (WLD) rose 47%, and Bittensor (TAO) added 37%.
Pandl said these projects span agent commerce, privacy-focused AI applications, human identity verification, and an open AI network covering inference, agents, data, and compute. Grayscale argues that public blockchains can provide open infrastructure for agent payments, identity, privacy-preserving computation, and verifiable records, complementing an AI development ecosystem that is currently concentrated among a small number of companies. The firm added that the AI crypto segment could produce one or more major winners over the next five years, and that recent performance suggests investors are beginning to price in blockchain’s infrastructure role in the emerging agent economy.
On Oct. 4, Grayscale research head Zach Pandl said in a written note that the AI crypto segment rose 54% in September, sharply outperforming the broader crypto market, which gained 24% over the same period.
Even after the latest rally, the segment’s market capitalization is still only about $15 billion, making it the smallest of the six crypto sectors tracked by Grayscale.
Token moves highlighted by Grayscale
Among the representative tokens cited by Grayscale, NEAR rose 183% in September, Venice (VVV) gained 70%, World (WLD) climbed 47%, and Bittensor (TAO) advanced 37%.
According to the firm, those projects are tied to agent commerce, privacy AI applications, human identity verification, and an open AI network spanning inference, agents, data, and compute.
How Grayscale frames the sector
Grayscale said public blockchains can serve as open infrastructure for agent payments, identity, privacy-preserving computation, and verifiable records. In its view, that setup complements an AI development ecosystem that is now concentrated in the hands of a small number of companies.
The firm added that the AI crypto segment could see one or more major winners emerge over the next five years. Recent market performance, it said, shows investors are starting to price in blockchain’s infrastructure role in the emerging agent economy.
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