Artificial intelligence (AI) is a technology that is changing the world. It combines large amounts of data with fast and intelligent algorithms, enabling software to learn automatically from patterns in the data. In other words, AI allows machines to learn from experience, adjust to new inputs, and perform human-like tasks.
The intersection of AI and blockchain technologies has led to many innovative projects. As we are about to start 2024, we review the eight most promising AI-focused cryptocurrencies that can revolutionize various industries. The data accompanying the description of each coin are for December 15, 2023.
1. Injective (INJ)
Injective is a layer-1 blockchain for building decentralized applications (dApps) for Web3. This blockchain is built specifically for finance DApp development. It leverages AI and provides powerful core financial infrastructure primitives that applications can use, such as decentralized exchange (DEX) infrastructure, bridges, and oracles. It also provides a highly interoperable smart contract platform. Decentralized applications built on this blockchain can seamlessly connect with other blockchains like Ethereum, Cosmos, and Solana.
The INJ token is Injective’s native cryptocurrency, and it is used for protocol governance, DApp value capture, incentives, and staking. The INJ price has increased by nearly 1,875% this year. This token has enormous growth potential for 2024.
Current Price: $32.15
Market Rank: #31
Market Capitalization: $2,693,015,990
Trading Volume (24h): $361,945,445
2. Render (RNDR)
Render is a distributed graphic processing unit (GPU) rendering network running on Ethereum. It aims to connect artists and studios needing GPU computing power with crypto miners willing to rent out unused computing power from their GPUs. This way, artists can render and stream digital content, including visual effects and virtual assets.
In July 2023, Render implemented the “RNP-004 – Open Compute Clients” proposal to leverage the network’s computational power for AI and machine learning (ML) tasks. GPU computing power providers get incentives in the form of RNDR tokens. The price of this crypto AI token has skyrocketed in the last few months as the market sees a fresh bullish impulse. This year, the RNDR price has grown by 822%. Experts think this uptrend will continue in 2024.
Current Price: $4.57
Market Rank: #44
Market Capitalization: $1,698,826,549
Trading Volume (24h): $252,805,952
3. Fetch.ai (FET)
Fetch.ai is an AI platform building an open and decentralized ML network with a crypto economy. Users can develop and deploy AI agents for applications in various sectors, including DeFi, transportation, energy management, travel, and more. Fetch.ai’s native token, FET, is used to pay for transactions on the network. FET is another promising AL token for 2024, with an impressive growth of 605% this year.
Current Price: $0.7287
Market Rank: #97
Market Capitalization: $600,569,539
Trading Volume (24h): $203,166,449
4. SingularityNET (AGIX)
SingularityNET is a blockchain-based platform where users can create, share, and monetize AI services through its AI marketplace. This ecosystem focuses on the development of human-level intelligence. Some SingularityNET team members created the renowned AI robot Sophia, often regarded as the “world’s most expressive robot.” The team aims to develop Sophia to the point of fully understanding human language. They also continue developing “OpenCog,” an AI framework that may one day achieve “advanced general intelligence” (AGI), i.e., human-level intelligence or higher.
SingularityNET’s utility token, AGIX, allows users to browse, test, and purchase AI services in the abovementioned marketplace. When the SingularityNET platform was announced in 2017, investors showed much interest in its token. The initial coin offering (ICO) held in December of that year raised $36 million in just one minute. The AGIX token has increased its value by 565% this year and is poised to be among the most successful AI tokens in 2024 and beyond.
Current Price: $0.3339
Market Rank: #118
Market Capitalization: $417,286,751
Trading Volume (24h): $62,888,568
5. Ocean Protocol (OCEAN)
Ocean Protocol is an Ethereum-based platform that combines blockchain technology, decentralized networks, and cryptographic techniques to facilitate the exchange and monetization of data. This platform aims to create the tools and services for a new data economy where data owners can control and preserve privacy when commercializing data. This data economy lies at the intersection of blockchain, data, and AI. Ocean Protocol’s utility token, OCEAN, is used for data trading, governance, and staking on the platform. This year, OCEAN has increased its value by 197%, an uptrend likely to continue in 2024.
Current Price: $0.5197
Market Rank: #151
Market Capitalization: $299,115,422
Trading Volume (24h): $60,069,700
6. The Graph (GRT)
The Graph is a leading indexing and data querying protocol for networks like Ethereum and InterPlanetary File System (IPFS). It leverages AI to improve data accessibility for decentralized finance (DeFi) applications and the broader Web3 ecosystem. Users can build and publish open APIs (subgraphs) that applications can query to retrieve blockchain data. The Graph can be regarded as the Google of blockchains. This ecosystem is fueled by its native token, GRT, which can significantly increase its value next year. The GRT price has grown by 163% in 2023.
Current Price: $0.1737
Market Rank: #49
Market Capitalization: $1,619,574,107
Trading Volume (24h): $99,359,363
7. Oasis Network (ROSE)
Oasis Network is the leading privacy-enabled and scalable layer-1 blockchain network. It focuses on open finance and a responsible data economy. This blockchain provides a next-generation foundation for Web3, powering DeFi, GameFi, non-fungible tokens (NFTs), metaverse, tokenization, and more. Oasis Network has partnered with top companies, including AI industry leaders, to develop platforms and products that ensure privacy protection and responsible data use. Oasis Network’s token ROSE is a promising investment for next year. It has increased its value by 120% this year.
Current Price: $0.09531
Market Rank: #94
Market Capitalization: $641,041,368
Trading Volume (24h): $92,510,571
8. Bittensor (TAO)
Bittensor is an open-source protocol powering a blockchain-based ML network. In this network, ML models train collaboratively. Each model gets rewards in TAO tokens according to the informational value it contributes to the community. Also, external users can gain access to the network to extract information using TAO. This token launched on March 5, 2023, at an open price of $0.12. Since its inception, the TAO price has grown a whopping 275,420%. On December 14, 2023, TAO reached its all-time high of $392.3, making it one of the fastest-growing crypto assets this year and a promising AI token in the coming years. Experts think the TAO token will likely reach a new all-time high in 2024.
Current Price: $348.03
Market Rank: #208
Market Capitalization: $2,035,122,283
Trading Volume (24h): $9,531,669
Conclusion
Fast advancements in AI intelligence have prompted the integration of this technology into the blockchain, giving rise to innovative solutions for various industries. Simultaneously, a whole set of AI tokens has emerged. Investors have shown a lot of interest in AI-driven blockchain initiatives, which has resulted in significant market performance of several AI tokens. These crypto assets have enormous growth potential for 2024 and beyond. An avid investor should consider adding several AI tokens to their investment portfolio. If you want to purchase the tokens listed above, you can do it on LetsExchange.io at competitive rates.
Disclaimer
Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.