Crypto AI Agents Keep Growing Despite Market Decline

The cryptocurrency market has been facing a downturn, with many AI-focused tokens seeing sharp losses. However, despite declining market caps, the number of AI agents continues to rise, indicating ongoing development and experimentation in the space. Notably, Ethereum-based AI projects have gained traction, surpassing Base to become the second-largest blockchain in this sector, just behind Solana.

AI-Focused Crypto Coins Face Market Struggles

Over the past week, the top AI agent-related cryptocurrencies have taken a hit, with AIXBT leading the losses after a 32% price drop. Most tokens in the sector are down by double digits, reflecting a shift in investor sentiment toward projects with tangible utility rather than speculative hype.

The Artificial Superintelligence Alliance (FET) remains the only project in this space with a market capitalization above $1 billion, currently sitting at $1.1 billion—far below its December 2024 peak of $5 billion. This decline suggests that investors are becoming more selective, favoring projects with real-world use cases over those driven purely by speculation.

Ethereum Surpasses Base, Closing in on Solana

Solana continues to lead the AI agent cryptocurrency space with a market cap of $1.88 billion, but Ethereum is quickly gaining ground at $1.75 billion. Recently, Ethereum-based AI projects overtook Base, securing the second spot in this sector. Meanwhile, Base and Binance’s BNB chain remain active players, though their influence has steadily declined since early March, further reinforcing the shift toward Ethereum-based solutions.

AI Agent Growth Continues

Despite falling prices, the number of AI agents has grown consistently since early March. The total count increased from 1,512 on March 3 to 1,529 by April 2. This slow yet steady rise indicates that builders are still actively experimenting with the technology, even as the broader market cools. Binance co-founder CZ recently noted that only 0.05% of AI agents truly need tokens, highlighting the ongoing search for meaningful applications within the sector.

Looking Ahead

The current market downturn presents challenges, but the continued expansion of AI agents suggests that innovation in the crypto AI space is far from over. While speculative hype is fading, the long-term viability of AI-driven blockchain projects will likely depend on their ability to deliver real-world utility and solve tangible problems.