Artificial intelligence cryptocurrencies have been attracting attention in the past years, and the increasing interest in AI has highlighted AI cryptocurrencies. The introduction of blockchain technology has welcomed new advancements.
Artificial intelligence, at large is seen as one of the breakthrough technologies that is changing the mechanism of business. This revolution has entered the cryptocurrency market as well. In this article, we have created a comprehensive list of the best AI cryptocurrencies. Read this further in detail to know about them:
What are cryptocurrencies?
Cryptocurrency is a virtual or digital currency safeguarded by cryptography. This is a form of digital asset based on a network distributed across a huge number of computers.
Cryptocurrencies are based on decentralized networks using blockchain technology. They are generally not issued by any central authority or government. Cryptocurrencies provide safe online payments without the involvement of third parties. Ethereum, Bitcoin, Binance coin, etc are some of the famous cryptocurrencies.
What is an AI cryptocurrency?
Artificial cryptocurrencies are tokens that power various Artificial intelligence-based blockchain platforms like The Graph, Render, Singularity, etc. AI cryptocurrencies analyze patterns of the market and perform automated trades with machine learning algorithms and natural language processing which is unlike traditional cryptocurrencies.
It benefits investors and developers through an efficient and transparent process, which yields them a high profit. With AI’s help, these cryptos have the potential to foster the cryptocurrency business.
Top 10 AI Crypto Coins
Market cap( Nov 2023): $1.17 billion
Injective is known as “blockchain built for finance”. It allows users to make finance-focused Web3 DApps on the layer-1 blockchain, which is open. Injective uses plug-and-play modules, which gives developers versatility in the functionality they can choose from.
INJ is the native token of the Injective. The token is used for the administration of the community and to validate transactions via staking. Developers who build DApps on this platform are rewarded with INJ. It currently trades at £14.21.
INJ is up 69.59% against Ethereum and 42.32% against Bitcoin in the last one month. The top-performing year of INJ was 2020 with a 387% increase from $0.83 to $4.06. The worst performing year was 2022 when the price dropped from $8.25 to $1.1.
2. The Graph(GRT)
Market cap (Nov 2023): $1.5 billion
The Graph is an indexing and data querying protocol from blockchains in a similar way to Google indexes and queries data from websites. Indexing blockchains is a difficult task but The Graph makes it easier by organizing data into smaller ‘subgraphs’. These are the smaller units that are much simpler to work with.
The Graph has created 3000+ subgraphs as of April 2023 developed by thousands of developers and are used by various DApps and DEXs.
The maximum and minimum prices of GRT in the year 2025 are expected to be $0.17 and $0.11 respectively.
Market cap (Nov 2023): $929 million
Render one of the top decentralized GPU rendering platforms, empowers artists to scale GPU rendering work on demand to best-performing GPU nodes across the globe. The company aims to provide unlimited decentralized GPU computing power for next-generation 3D content creation. The render network creates a much more powerful and efficient rendering network.
RNDR is the native currency of the Render project, and to access miners GPU power users spend it. The system runs on a proof-of-work consensus mechanism.
The price prediction for Render for the year 2025 is expected to grow from $2.2 to $3.9.
4. Oasis Network(ROSE)
Market cap (Nov 2023): $312 million
Oasis Network refers to itself as the first privacy-enabled blockchain platform for open finance and a responsible data economy. The blockchain platform Oasis network provides a privacy-preserving layer for Web3 DApp smart contracts.
ROSE is the platform’s native token.
The ‘ParaTime’ function of the Oasis enables it to execute multiple smart contracts along with maintaining privacy and security. Its modular architecture sets a new standard for security.
For the year 2025, the price of ROSE is expected to be between $0.09 to $0.38.
Market cap (Nov 2023): $300.1 million
Fetch.ai is an artificial intelligence and machine learning platform based on blockchain technology. This open-source and decentralized platform focuses on building a new digital economy. Fetch.ai enables the creation of autonomous agents that will serve as AI-powered tools.
Its native token FET, is the medium of exchange within the system. It can handle several complex tasks which include high-level analytics, etc. The bots and tools within its area communicate with each other.
Over the last year the price of Fetch.ai has been +587.48%, the highest price last year was $0.55, and the lowest was $0.05.
Market cap (Nov 2023): $332 million
SingularityNET is open-sourcing the building of Artificial General Intelligence(AGI), which the platform refers to as “Decentralised human-level Intelligence”. The platform enables users to buy and sell products that use AI technology. These include data models and other AI-powered tools.
AGIX is the token used for all payments in the ecosystem. Using this platform users can easily build, share, and monetize AI services.
The top performing year was 2021 for AGIX where price was increased by 342.5% from $0.04 to $0.20. The average growth is 55.5% over the past 6 years.
7. Ocean Protocol(Ocean)
Market cap (Nov 2023): $216.99 million
Ocean Protocol is an Ethereum blockchain-based project that uses smart contracts to enable secure and transparent data transactions. The platform allows businesses and individuals to exchange and monetize data and data-based services.
It allows users to create a more collaborative and effective AI ecosystem. Using Ocean protocol publishers are now able to commercialize their data, maintaining privacy and control.
Its native token is Ocean. It has a huge circulating supply of 613,099,141 OCEAN coins and a maximum supply of 1,410,000,000 OCEAN coins.
The yearly high price prediction for Ocean in 2025 is $0.55 and the yearly low for 2025 is $1.14 respectively.
8. Akash network(AKT)
Market cap (Nov 2023): $230.99 million
Akash network is an open-source supercloud that allows users to buy and sell computing resources very efficiently and securely. It is built with the purpose of public utility.
With Akash, users have the power to own their cloud. It allows users to deploy their own cloud infrastructure, and you can easily sell your unused cloud to others. You can also buy cloud resources from others and use them to run your application.
Its native token is AKT. It uses a ‘reverse auction’ system where customers place their wanted price and providers compete for the business.
The price prediction for the maximum price in 2025 is $3.6 and the minimum price is $3.14 respectively.
9. Numeraire (NMR)
Market cap (Nov 2023): $142,323,009
Numeraire is an Ethereum-based ecosystem that enables developers and data scientists to display their machine-learning models with enhanced solidity. Reportedly, this crypto is the first hedge fund to introduce crypto and use machine learning in its investment strategy.
Numeraire’s approach towards stock trading is different from others as they significantly rely on data and predictions generated by the participants in the numerai tournament.
The top performing year for Numeraire was 2020 when the price increased by 250.44% from $6 to $22. The average growth of Numeraire over the past 7 years is 51.20%.
Market cap (Nov 2023): $20.29 million
dKargo aims to combine artificial intelligence and crypto to enhance the Logistics sector and make it much more efficient. It has implemented blockchain technology to solve the trust issues faced in the ever-moving sector. It is also aiming to provide Web3 logistic services to the whole world. It provides various products like dKlip, dScanner, etc.
The worst performing year for dKargo was 2022 when the price fell by -77.2% from $0.11 to $0.02. The average yearly growth of dKargo over the past 4 years is 85.16%
How can an investor buy AI cryptocurrencies?
An investor can buy AI cryptocurrencies using crypto exchanges such as eToro. eToro is a very user-friendly platform and has a competitive fee structure for cryptocurrencies.
To trade, users will have to create an account on eToro- which involves some verification steps like identity.
Now after creating an account deposit some fiat currency in your eToro wallet.
Now search for the cryptocurrency you want to buy and execute the trade.
How can an investor store AI cryptocurrencies?
Most exchanges like eToro offer a free crypto wallet using which users can easily store, transfer to their eToro money wallet, or relocate it.
If an investor prefers, they can store their private and public keys( credentials necessary to use crypto assets) in a cold offline wallet, which is arguably preferable to a hot wallet since hackers can’t target them easily.
Are AI cryptocurrencies safe?
No cryptocurrency is safe from market instability or hackers and it was the year 2022 when cryptocurrencies’s volatility was exposed.
The UK’s financial watchdog FCA continuously issued warnings about investing in cryptocurrencies: people should be ready for the loss occurring from investing in crypto.
As for the hackers, crypto wallets and exchanges are likely to remain a target for criminals.