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The cryptocurrency ecosystem runs on narratives, and the current cycle is being driven by two major ones: meme coins and artificial intelligence (AI).
The recent AI agent craze has captured both of these narratives to a large extent. November 2024 saw several AI agents gain significant traction, boasting tokens with market caps in hundreds of millions of dollars.
As of now, most of these agents are used as key opinion leader (KOL) influencers to post on X (formerly Twitter), interact with X users and promote their particular tokens. However, they have the potential to evolve to handle complex tasks and reshape how users interact with web3 platforms in the future.