Grayscale: The Success of DATA, USD AI, and Pearl Depends on Adoption and Competitiveness

Grayscale has highlighted three cryptocurrencies that could benefit from the growth of artificial intelligence. In a research note dated October 23, Grayscale's head of research, Zach Pandl, emphasized that these are DATA Network (DATA), USD AI (CHIP), and Pearl (PEARL). Each addresses different aspects of AI infrastructure: from supplying training data to financing computer chips and generating income from computing power. DATA Network aims to collect images, videos, and voice recordings with authors' permission and license them to AI developers. On October 12, the Sui Foundation announced a $30 million investment in the network, which also plans to migrate to Sui with a one-to-one token transfer. However, over the past 90 days, the price of DATA has decreased by 42.07% to $0.15243, including a 34.65% drop over the last month.

USD.AI helps computing equipment manufacturers obtain loans by providing them with powerful graphics processing units (GPUs) through a blockchain lending pool. In August, Bullish announced $100 million in funding to support GPU-backed loans. Over 90 days, CHIP has gained 47.98% and is now priced at $0.04386, although it remains about 69% below its peak value in April.

Pearl offers the use of the same computing power for both AI tasks and blockchain mining, allowing providers to earn income from AI and tokens for network security. PEARL has become an outstanding asset, rising by 528.24% over 90 days to $2.00, although since October 21, it has retreated by 19% from a record $2.46. It is also worth noting that about 1.2 million new tokens are issued daily, creating a supply risk, especially given its estimated capitalization of $4.2 billion, significantly exceeding the market capitalization of $713 million. Grayscale sees potential in these projects, although their success remains uncertain. "Their long-term significance will depend on adoption and competitive economics. We will be monitoring them," noted Pandl.