Author: Frank, PANews
AI Agent is widely regarded as one of the most noteworthy focus tracks in the industry by 2025. However, with the recent significant market adjustment, AI Agent has also experienced a sharp decline. From the data, how much has the retracement of AI Agent been? What competitive changes have been quietly taking place between chains? PANews has conducted an investigation into the recent data changes of AI Agent.
The total market value of AI Agent has dropped by 67% in the past month
Cookie.fun data shows that as of February 10, there were a total of 1,412 AI Agents, with a total market value of about $6.52 billion, a 67% drop from $20.2 billion on January 15. At the same time, the number of Agents has been continuously increasing, with 116 new Agents added in the past month, an increase of about 8.9%. However, in terms of growth rate, the current new addition speed of AI Agent has also slowed down.
Based on the data as of January 15, the average market value of AI Agent at that time was about $15.07 million, while by February 10, this figure had dropped to $4.61 million.
In terms of chain distribution, Solana and Base are still the leaders in the AI Agent track. There are 793 AI Agents on the Solana chain, accounting for more than half. The number of AI Agents on Base is 379. In terms of quantity, the number of AI Agents on Base is less than half of that on Solana. However, in terms of total market value, the total market value of AI Agents on Solana is about $3.2 billion, and Base is $2.47 billion, the difference is not large. Calculated by average market value, the average market value of AI Agents on Solana is about $4.03 million, and the average market value of Base reaches $6.51 million. From this perspective, the AI Agents on Base seem to be more valuable.
In terms of changes, the decline on the Solana chain is indeed more, at its peak, the total market value of AI Agents on the Solana chain reached as high as $11 billion, and is currently down 70%. The peak market value of Base was about $7.94 billion, and the decline during the same period was 68.8%.
Currently, there are 6 AI Agents on the Solana chain with a market value of over $100 million, which are FARTCOIN, AI16Z, ARC, ACT, GRIFFAIN, and GOAT. On BASE, there are 5 with a market value of over $100 million, which are VIRTUAL, TOSHI, FAI, AIXBT, and VVV. However, the AI Agent with the highest market value now is VIRTUAL, reaching $760 million. It is worth mentioning that Virtuals Protocol has also expanded to Solana on February 10.
The recent development of BNB Chain in the direction of AI Agent has been relatively rapid. Currently, there are two projects, CHEEMS and CGPT, with a market value of over $100 million. In addition, BNB Chain has seen a significant increase in Mindshare (the percentage of total discussion on Twitter) in recent times. On February 7, BNB Chain's Mindshare share was less than 4%, but as of February 10, this data has risen to 21.86%.
The recent growth of BNB Chain is mainly driven by 2 projects, one is Andy BNB, with a market value of about $42 million on February 10, and its Mindshare has increased by 1.02 in the past seven days, reaching 1.44%; the other is CHEEMS, with a Mindshare of about 0.97% and a market value of about $144 million on February 10.
The top tokens have fallen by more than 70%, can the old MEME ride the AI wave again?
In terms of classification, MEME and basic framework tokens still dominate the current AI field. Among them, the market value of MEME-classified AI tokens is about $1.94 billion, and the market value of framework-type tokens is about $1.49 billion. The token with the highest current market value in the MEME category is still FARTCOIN, with a market value of about $524 million. Its highest market value once exceeded $2.7 billion, and the current decline is about 80%. The leading framework-type token is VIRTUAL, with a current market value of $760 million, and its highest market value was once $3.3 billion, a decline of over 76.8%.
Another previously hot framework AI16Z had a peak market value of $2.7 billion, and the lowest dropped to $270 million, a retracement of 90%. Currently, the token market value of AI16Z has rebounded slightly to $450 million.
Somewhat unexpectedly, in the MEME category, in addition to FARTCOIN, the second and third-ranked tokens are TOSHI (market value $304 million) and TURBO (market value $271 million).
TOSHI was originally a meme coin focused on pets, named after Coinbase founder and CEO Brian Armstrong's cat. The token was issued as early as the end of 2023, and its market value once exceeded $300 million in 2024, but then slid all the way down to around $30 million. By November 2024, with the rise of the AI Agent craze, the TOSHI token transformed into an AI token based on the VIRTUAL framework, and its market value also took off, reaching a peak of $960 million. However, based on the current product framework, the main function of TOSHI is just to automatically tweet, and its Twitter followers are only 779.
Another third-ranked MEME token is Turbo, issued in April 2023, which is said to be the first AI-generated MEME token. The token was issued on Ethereum and is one of the few AI-type tokens with a relatively high market value on Ethereum. Turbo's highest market value had previously reached $990 million, and the maximum retracement was also over 80%.
The trend is synchronized with MEME, and the value attribute has not yet been displayed
Overall, the tokens with high market value in the AI Agent field have generally retreated by more than 80% from their peaks, such as the earliest popular GOAT, whose highest market value once reached $1.37 billion, and the lowest market value has dropped to $97.37 million, a retracement of over 92%. Observing the market value curves of the top AI tokens, they almost all present a 'mountain-shaped' pattern.
GOAT market value trend
However, from the overall market changes, this trend is not unique to AI Agent tokens. Looking at other categories of MEME coins, the trend is roughly the same. In terms of the proportion of top market value, AI Agent tokens may still be the highest category. Currently, the only MEME tokens on the Solana chain with a market value of over $1 billion are TRUMP and BONK. In November 2024, there were still 6 MEME tokens with a market value of $1 billion.
Overall, the current total market value of AI tokens in the crypto field is about $6.67 billion, a significant retracement from the peak of $22 billion. However, in terms of the actual functions and capabilities of these AI agents, there has not yet been an explosive application, and the vast majority of AI agents are simply tweeting or riding the AI hype. Perhaps it is for this reason that the fluctuations of AI tokens are highly synchronized with MEME coins, without showing the inherent value logic. As for whether the current market value of AI tokens has been underestimated, it is worth noting that the valuation of the globally popular DeepSeek was only $8 billion as of February 9. At least from this perspective, the bubble of AI Agents still seems to be not small.
