Artificial intelligence cryptocurrencies have been commanding attention in recent years, and the growing fascination with AI underscores the significance of AI-based cryptocurrencies. The integration of blockchain technology has ushered in new possibilities and advancements.
Exploring Cryptocurrencies: A Brief Overview
Cryptocurrency, a virtual or digital currency secured by cryptography, operates as a digital asset within a decentralized network across numerous computers. These currencies, like Ethereum, Bitcoin, and Binance coin, utilize blockchain technology, providing secure online transactions without the need for intermediaries.
Decoding AI Cryptocurrencies
AI cryptocurrencies are tokens that drive various Artificial Intelligence-based blockchain platforms such as The Graph, Render, and Singularity. Unlike traditional cryptocurrencies, these AI-driven tokens leverage machine learning algorithms and natural language processing to analyze market patterns and execute automated trades.
Top 10 AI Cryptocurrencies Redefined
1. Injective (INJ)
Market Cap (Nov 2023): $1.17 billion
Price: $17.84
Injective, known as the “blockchain built for finance,” enables users to create finance-focused Web3 DApps on an open layer-1 blockchain. INJ, its native token, facilitates community administration and transaction validation through staking. Trading at £14.21, INJ has demonstrated significant growth, up 69.59% against Ethereum and 42.32% against Bitcoin in the last month.
2. The Graph (GRT)
Market Cap (Nov 2023): $1.5 billion
Price: $0.1187
The Graph, an indexing and data querying protocol, simplifies the challenging task of indexing blockchains by organizing data into smaller ‘subgraphs.’ With an expected price range of $0.11 to $0.17 in 2025, GRT has become integral to various DApps and DEXs.
3. Render (RNDR)
Market Cap (Nov 2023): $929 million
Price: $2.42
Render, a leading decentralized GPU rendering platform, empowers artists by scaling GPU rendering work globally. RNDR, the native currency, fuels the platform, with a projected growth from $2.2 to $3.9 in 2025.
4. Oasis Network (ROSE)
Market Cap (Nov 2023): $312 million
Price: $0.054
Oasis Network positions itself as the first privacy-enabled blockchain platform for open finance. ROSE, its native token, facilitates privacy-preserving smart contracts. Predicted to range from $0.09 to $0.38 in 2025, ROSE boasts modular architecture setting new security standards.
5. Fetch.ai (FET)
Market Cap (Nov 2023): $300.1 million
Price: $0.43
Fetch.ai, an AI and machine learning platform, focuses on building a new digital economy. FET, its native token, handles complex tasks and has witnessed a remarkable +587.48% price increase over the last year, reaching a high of $0.55.
6. SingularityNET (AGIX)
Market Cap (Nov 2023): $332 million
Price: $0.2718
SingularityNET open-sources the development of Artificial General Intelligence (AGI). AGIX, the token for all payments, empowers users to buy, sell, and monetize AI services. With a top-performing year in 2021, AGIX’s average growth over the past 6 years stands at 55.5%.
7. Ocean Protocol (Ocean)
Market Cap (Nov 2023): $216.99 million
Price: $0.416
Ocean Protocol, an Ethereum-based project, facilitates secure and transparent data transactions. With a circulating supply of 613,099,141 OCEAN coins, it enables collaborative and effective AI ecosystems. Predictions for 2025 place Ocean’s price between $0.55 and $1.14.
8. Akash Network (AKT)
Market Cap (Nov 2023): $230.99 million
Price: $1.08
Akash Network, an open-source supercloud, allows efficient buying and selling of computing resources. AKT, its native token, utilizes a ‘reverse auction’ system, with a projected 2025 price range of $3.14 to $3.6.
9. Numeraire (NMR)
Market Cap (Nov 2023): $142,323,009
Price: $14.2
Numeraire, an Ethereum-based ecosystem, empowers developers and data scientists with enhanced machine-learning models. Its unique approach to stock trading relies heavily on data and predictions generated in the numerai tournament. The average growth over the past 7 years is 51.20%.
10. dKargo (DKA)
Market Cap (Nov 2023): $20.29 million
Price: $0.03
dKargo combines artificial intelligence and crypto to enhance the logistics sector. With a focus on Web3 logistic services, it offers products like dKlip and dScanner. Despite a challenging year in 2022, dKargo’s average yearly growth over the past 4 years is 85.16%.
Navigating the Investment Landscape
Investors can acquire AI cryptocurrencies through user-friendly platforms like eToro. By creating an account, undergoing identity verification, depositing fiat currency, and executing trades, investors can actively engage in the AI crypto market.
Safeguarding AI Investments
Storing AI cryptocurrencies can be done on exchanges like eToro, which provide free crypto wallets. Alternatively, investors can opt for cold offline wallets, enhancing security by storing private and public keys away from potential hacker targets.
Assessing the Safety of AI Cryptocurrencies
While no cryptocurrency is entirely immune to market fluctuations or cyber threats, it’s crucial to acknowledge the inherent risks. The Financial Conduct Authority (FCA) continuously warns about crypto investments, emphasizing the need for preparedness amid potential losses. As hackers persist in targeting crypto wallets and exchanges, vigilance remains paramount in the crypto landscape.