Published on March 08, 2024 06:59 GMT+00:00edited on March 08, 2024 07:04 GMT+00:00

Coinbase Institutional has adopted a bearish and contrarian stance on artificial intelligence tokens in the crypto industry, asserting that “the value potential for many AI tokens may be overstated.”

The statements came via a market intelligence report written by research analyst David Han and published earlier this week titled "Crypto's AI Mirage" — where it is concluded that "many AI tokens may lack sustainable demand side drivers in the short to medium term."

In the report, Han noted that Coinbase Institutional believes "some of the emerging trends in the AI sector could actually make it more difficult for crypto-based innovations to gain adoption in light of broader market competition and regulators."

Han's opinions contradict the current sentiment surrounding AI-related crypto …