CGPT token goes up 90% on Binance listing as AI agents move up

Key Takeaways

The CGPT token surged 90% after its Binance listing, increasing its market cap to $335 million.
The AI agent sector has doubled its market value to exceed $14 billion by the end of November 2024.

ChainGPT's CGPT token surged 90% after Binance listed it for spot trading, along with aixbt with Virtuals (AIXBT) and Cookie DAO (COOKIE), according to CoinGecko data. The price rally comes amid growing interest in AI agents and projects that contain these elements.

ChainGPT was launched in April 2023, focusing on solutions for the blockchain and web3 space, with an initial market cap of nearly $8 billion. After surpassing $100 million in early 2024, CGPT's market cap slipped back below that level amid a broader crypto market downturn.

The project began integrating AI agents into its ecosystem last month, aiming to increase efficiency and capabilities for blockchain projects.

CGPT's market cap increased from $170 million to $335 million after the Binance listing, with trading volume reaching $362 million over 24 hours, especially on PancakeSwap and Binance. The token is trading at $0.41, up 91% in a day but 26% below its peak of $0.5.

AIXBT and COOKIE also got big gains. AIXBT, the AI agent token from Virtuals Protocol, rose 35% after Binance announced the listing, pushing its market cap to $500 million.

COOKIEthe convenient and regulatory token of the Cookie DAO, has gained 47% in the same period.

Other tokens in this sector, such as Freysa and Swarms, have also shown strong performance, recording double-digit gains over the past 24 hours and outperforming Bitcoin and Ethereum.

Nvidia CEO envisions AI agents as a multi-trillion dollar industry

Nvidia CEO Jensen Huang, speaking at CES on Monday, described AI agents as a multi-trillion dollar opportunity due to their ability to change the workforce and business efficiency.

OpenAI CEO Sam Altman said in a Monday blog post that the first AI agents could join the company's workforce this year.

Growth in this space is expected to increase the visibility of AI agent-oriented blockchain projects, potentially increasing their token values.

The Agent in the AI sector has doubled in market value in over a month, surpassing $14 billion since then report at the end of last November.

By the end of the year, reports from high-profile blockchain teams and analysts identified AI agents as one of the most promising markets expected to explode in 2025.

Whether AI agent-focused crypto projects will survive, however, remains up in the air. Haseeb Qureshi, managing partner of Dragonfly Capital, noted in a statement on January 2 that while these tokens may outperform memecoins through 2025, their popularity may decline by 2026 on due to treatment concerns and possible waning interest.