The creation and monetization platform for artificial intelligence agents has experienced a sharp decline in daily revenue, now down to merely $500, as interest in crypto AI agents continues to diminish.
“This is likely one of the most astonishing crypto charts of this cycle,” noted a researcher in a social media post made on April 8.
Significant drop in AI agent creation
According to the researcher, it has been roughly a week since a new AI agent was launched on the platform, contrasting starkly with late November when more than 1,000 new AI agents were being generated daily, based on data from Dune Analytics.
On January 2, the platform’s token reached an all-time high of $4.61, with daily revenue exceeding $500,000.
However, this marked the beginning of a downward trend, indicating a possible peak for the AI agent market. This decline continued even after a January 25 announcement of the project’s expansion to Solana.
As of April 7, the researcher highlighted that the platform was generating “less than $500” in daily revenue, while its token price had dipped to as low as $0.42.
The AI agents on this platform have generated a total revenue of $39.1 million throughout their lifetime.
The overall market cap for AI agents stands at $153.81 million, according to Dune Analytics. A significant portion of that, $76.6 million, is attributed to AIXBT, which evaluates crypto sentiment on the social media platform to identify trends.
AIXBT has witnessed a staggering 92% drop since its peak of $0.90 on January 16, currently trading at $0.07, as per data from CoinMarketCap.
A core contributor from DeGen Capital mentioned that the current market landscape has contributed to the decline of the platform, suggesting that it may also be linked to the platform’s agreements with developers, which include conditions like “withholding token taxes that other platforms typically refund.”
This situation unfolds against the backdrop of a broader downturn in the entire cryptocurrency market and global financial environment, exacerbated by rising tariffs and concerns of a potential recession.
Current AI agents deemed “ineffective”
Critics have raised concerns regarding the lack of utility in AI agents. An AI expert commented on the platform’s revenue drop stating, “ChatGPT wrappers have lost their appeal; who would have anticipated that?”
Related: Not every AI agent needs its own cryptocurrency: industry leader
Another AI expert stated in a social media post on April 8, “I remain optimistic about AI, but it’s unrealistic to expect any current AI agent to replace a skilled programmer today. The future may hold changes, but we’re not there yet.”
In a recent conversation, the founder of Infinex expressed hope for the potential resurgence of AI, despite acknowledging that the “initial iterations of AI agents” have been “subpar.”
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