2025 has been a rough year for most crypto narratives Among the hardest hit is #AI coins Over the last 3 months, AI agents are down 37% I spent the last 24 hours tracking the AI narrative Here’s what I found (plus coins that are outperforming) 🧵

First, some overall performance for the #AI sector: Market cap has shrunk 40% since the year began, falling from $50B to $30B today. However, in Q3, it grew 10.8%, rising from $27.7B to $30.7B. The sector peaked last year at $70B

Still, some AI subsectors show strengthening metrics: By September, 41.8M+ devices were powering DePIN networks across various projects DePIN fees have been rising all year, hitting $2.3M in September Revenue also reached a yearly high of $2.6M in September

Over the last 90 days: #AI Agents have captured 2.96% of investor mindshare #DePIN has captured 2.80% And #DeFAI, 0.90% In the midst of all this, her are 8 tokens that I'm watching

1️⃣ @ChainOpera_AI | $COAI Price: $20.03 Mcap: $3.7B Decentralized AI protocol designed for the co-creation, co-ownership, and co-governance of AI agents and applications. Combines AI-optimized infrastructure with a Federated AI OS to enable scalable, community-driven innovation. Their aim is to build a collectively owned "crypto AGI" ecosystem.

2️⃣ @origin_trail | $TRAC Price: $0.74 Mcap: $370M $TRAC combines blockchain technology with a Decentralized Knowledge Graph (DKG) to create a trusted, verifiable infrastructure for AI & RWAs. $TRAC is advancing toward a "Verifiable Internet for AI", which includes autonomous knowledge mining and decentralized Retrieval Augmented Generation (dRAG).

3️⃣ @opentensor | $TAO Price: $376.40 Mcap: $3.8B Decentralized network designed to foster collaboration among AI and ML models through a peer-to-peer ecosystem. The first $TAO halving in approaching, expected in DEC. The halving will reduce inflation from 8.6% to 4.3% annually. This scarcity mechanism aims to increase long-term value pressure.

4️⃣ @SaharaLabsAI | $SAHARA Price: $0.077 Mcap: $177M SAHARA is designed to democratize AI by enabling anyone to build, share, and monetize AI models, datasets, and applications. Their goal is to shift control from centralized tech giants to users through blockchain-based ownership and transparent governance.

5️⃣ @numerai | $NMR Price: $13.24 Mcap: $101M AI-driven hedge fund that operates through a decentralized model that crowdsources stock market predictions from a global network of thousands of data scientists. These contributors build machine learning models using Numerai’s encrypted and anonymized financial datasets. These are then combined into a single meta-model used to execute live trading.

6️⃣ @KaitoAI | $KAITO Price: $1.04 Mcap: $253M An AI-powered web3 information platform that addresses information fragmentation in crypto. KAITO indexes thousands of premium Web3 sources including social media, governance forums, podcasts, and research papers and uses LLMs to deliver structured, actionable insights.

7️⃣ @AethirCloud | $ATH Price: $0.031 Mcap: $446M Decentralized cloud computing infrastructure company focused on providing enterprise-grade GPU-as-a-service for AI, machine learning, and cloud gaming applications. Aethir uses underutilized GPU resources from data centers and enterprises, connecting them via a decentralized network to deliver scalable, low-latency computing power.

8️⃣ @StoryProtocol | $IP Price: $5.66 Mcap: $1.82B STORY aims to revolutionize intellectual property (IP) management in the digital and AI era. It enables creators to tokenize IP such as art, music, AI models, and written content into programmable, on-chain assets.