Yash, lead organizer of the Solana AI Hackathon by SendAI, argues that the first hype cycle of crypto × AI agents is ending—with most AI agent tokens down >95%—making this the perfect time to reflect and prepare for what's next.

In this article, Yash analyzes lessons from crypto × AI's journey so far and predicts key trends for the next 6–12 months and beyond.

The frenzy began with Truth Terminal ($GOAT) in October 2024, peaking from November to January 2025 as crypto AI agent market cap surpassed $10B. While little of substance emerged, this phase revealed possibilities:

• Weekly experimental tokens (pumping to $50M MC before crashing).

• "AI Agent L1" frameworks/launchpads hyped by KOLs.

• Overvalued ChatGPT-style UIs (e.g., Griffain, Venice) promising on-chain actions (but delivering only demos).

• Autonomous hedge fund whitepapers (with no real products).

February–April 2025 was brutal:

• Liquidity drain: TRUMP’s launch triggered 50–90% token crashes.

• Stalled development: Teams behind $1M–$100M tokens went silent.

• Community disillusionment: Tokens with no utility beyond speculation collapsed.

• Narrative death: "AI Agent L1s" faded as zero consumer adoption became obvious.

Comparable to the dot-com bubble, this purge left few survivors—but like the internet era, viable ideas may yet emerge.

Despite the crash, SendAI delivered:

• First open-source Multi-Chain Protocol (MCP) server for on-chain actions.

• Upgraded Solana Agent Suite v2 (more modular).

• 50+ protocol integrations (from 11 at launch).

40–50 teams built UIs (e.g., Griffain, Neur), but most fail in production:

• Poor context understanding for crypto transactions.

• Simple swaps take 8–10 seconds (vs. manual UI’s instant execution).

• Open-source frameworks lack monetization.

• Token launchpads devolved into memecoins (e.g., Grok’s Ani).

• "Vibe coding" tools (e.g., dev.fun) remain niche due to security risks.

147+ AI tokens (>$1M MC each) now trade as memecoins, with developers abandoning projects:

• ai16z ($150M), Alch ($140M), GOAT ($100M), Griffain ($50M), etc.

1. Smarter Chat Agents

• Models (Claude Sonnet 4, Kimi K2) are improving at tool calling and proactive workflows.

• MCP standard enables cross-app composability (e.g., price feeds + swaps via one API).

• Chain-enabled AI agents (with embedded wallets) will execute tasks autonomously.

2. Consumer Crypto × AI ("Vibe Coding")

• AI lowers creation costs; tokens attract attention.

• Examples: Gamified TikTok (endless tokenized mini-games) or AI companion platforms (e.g., Grok’s Ani).

• "AI × Tokens = Internet’s capital markets moment."

1. Agents as Stablecoin’s Trojan Horse

• AI agents will prefer stablecoins over legacy payments (Visa/Mastercard).

• Stripe’s AI agent SDK (post-Bridge/Privy acquisitions) could catalyze adoption.

2. AI-Embedded Crypto Protocols

• Context-aware AI will suggest DeFi strategies (e.g., looping yields) or generate assets (e.g., Jup Studio’s AI-powered token code).

3. Crypto-Coordinated AI Networks

• Crypto incentivizes decentralized AI stacks (training/verification).

• Bittensor ($4B ecosystem) hints at potential for agent trust markets.

4. On-Chain Context Layers

• Composable user context (tastes, preferences) stored on-chain (as ZK-proofed NFTs) enables hyper-personalized AI.

• Monetizing context could surpass IP value in an AI-dominated era.

5. Chat-Based Crypto Super Apps

• Intent-centric interfaces (e.g., Perplexity Comet, Donut’s crypto agent browser) will replace traditional web navigation.

• Western resistance to super apps may crumble as AI agents unify fragmented services.

We stand at the intersection of two transformative technologies (crypto + AI). The first bubble popped, but the foundations—MCP standards, vibe coding, agent-native wallets—are being laid.

Now is the time to build.