A recent study conducted by researchers in Germany suggests that the launch of OpenAI's ChatGPT positively impacted AI-related cryptocurrency assets.

Despite a bearish market and cautious investor sentiment, the researchers found that AI-related crypto-assets experienced average price increases of at least 10.7% in the month following the launch of ChatGPT. The study attributes this increase to media hype, marketing, and the heightened potential or value perception in AI-related crypto-assets.

The researchers also speculate that ChatGPT's educational capabilities may have facilitated more informed investment decisions among retail investors. In contrast, cryptocurrencies unrelated to AI remained stagnant during the same period, reflecting the overall slump in the crypto market.

The study also revealed a spillover effect, with attention generated by ChatGPT extending to AI assets not directly related to it. Google search volumes emerged as critical pricing indicators for AI assets post-launch. The findings suggest that investors perceived AI-related crypto assets as having increased potential and value after the launch of ChatGPT.

The study highlights the importance of considering sentiment and hype in cryptocurrency markets and incorporating data on retail investor attention for effective decision-making.

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