AI cryptocurrencies have surged this year amid investor enthusiasm for AI companies, but past boom-and-bust cycles suggest the gains may not last.

What happened: Several AI-focused cryptocurrency tokens have posted sharp gains in 2026—Venice Token up 850% and Siren up 1,400% year to date—even as the broader crypto market has faced headwinds. Larger players like Bittensor and NEAR Protocol, both with market caps exceeding $2 billion（約3200億円）, are drawing investor interest as Layer-1 blockchain networks.

Why it matters: Investor enthusiasm for AI-related assets is running high, with Anthropic and OpenAI expected to pursue major IPOs. However, the article notes that AI cryptocurrencies have historically struggled to sustain their gains over time. Past high-profile AI tokens like Artificial Superintelligence Alliance (down 94% from its 2024 all-time high) and Virtuals Protocol (down 90% since late 2024/early 2025) have cratered after initial rallies, and even Bittensor has fallen 75% from its 2024 peak.

What to watch: The article suggests the fast-moving nature of the AI field makes it difficult for any single AI crypto to maintain momentum, and states there has yet to be an AI crypto that investors can hold for the long term without significant losses. Smaller, higher-risk tokens carry substantially greater risk than the larger Layer-1 networks.