Exploring the top AI coins: best picks for 2024

This text discusses The Graph (GRT), a decentralized, open-source global API that indexes and structures blockchain data using the GraphQL language. The Graph uses the GRT token to incentivize network participants, making it an essential tool for developers. The text highlights several reasons why The Graph is considered one of the best AI crypto projects to invest in, including its ability to transform disorganized blockchain data into usable information, its importance in the next generation of the internet (web3), and its built-in demand mechanism. Additionally, The Graph has seen substantial growth in usage, with query volume increasing significantly in Q4 2023. Overall, The Graph’s potential as a critical infrastructure provider in the web3 space makes it an attractive investment opportunity for those interested in AI crypto. The text also mentions other top AI crypto projects that could be worth considering and encourages readers to do their own research before investing.

As a dedicated researcher in the field of artificial intelligence (AI) and cryptocurrencies, I am constantly seeking to uncover new opportunities and stay informed about the latest developments. One area of particular interest is the emerging class of AI crypto coins that are expected to make waves in 2024. In my ongoing exploration of this exciting space, I have come across several promising projects that merit further investigation.

Digital assets known as AI crypto coins represent the backing for projects built on artificial intelligence-powered blockchains. These coins enable transactions within their specific networks and frequently grant governance privileges to their owners.

As a data analyst, I’ve observed an astonishing surge in the value of AI-centric cryptocurrency projects. According to my latest findings from CoinGecko, the combined market capitalization of these projects hovers around $34 billion.

Analysts predict that the income generated from AI and blockchain collaborations could reach $10.2 billion by the year 2030, with some estimates suggesting a potential revenue of as much as $51 billion.

With vast prospective in this domain, the coexistence of numerous AI tokens sparks curiosity: which AI cryptocurrency holds the greatest promise? Sifting through the options to identify the most promising can be a daunting task. To simplify your search, we present this uncomplicated guide, highlighting the top five AI tokens worth considering.

Near Protocol (NEAR)

Market cap: $6,745,235,913
Current price: $6.21

As a researcher examining the NEAR Protocol (NEAR), I can explain that this innovative framework is specifically engineered to democratize access to decentralized applications (dapps) for a wider audience.

The NEAR platform harnesses the power of artificial intelligence and machine learning to simplify tasks like deploying smart contracts and enhancing network performance. Within this system, the NEAR token serves multiple purposes: facilitating transactions, staking for security, and casting votes in the NEAR community.

As a crypto investor with an interest in artificial intelligence tokens, I believe NEAR could be a top contender for my investment in 2024. With the largest market capitalization among AI-focused cryptocurrencies, NEAR boasts a significant presence in this growing sector. At the current price of $6.21, the token’s overall value surpasses $6.7 billion, making it an attractive option for potential investors.

As a researcher studying the cryptocurrency market over the past year, I’ve noticed an impressive surge in NEAR‘s price. According to CoinGecko’s data, this digital asset has experienced a remarkable gain of at least 419%. In comparison, Bitcoin (BTC) also displayed growth, but its uptick was less pronounced at only 162.6%.

As a market analyst, I’ve observed that the daily trading volume for this particular cryptocurrency coin consistently exceeds $200 million. This places it among the top coins in the AI crypto sector in terms of trading activity.

As an analyst, I’d put it this way: I’m excited to share that NEAR Protocol is gearing up for some significant advancements. These include stateless validation and zkWASM (zero-knowledge web assembly), which are set to enhance its scalability and security. Additionally, by introducing account aggregation and Ethereum wallet support, we aim to attract a larger user base.

As a researcher exploring the latest developments in the blockchain world, I’m excited to share that NEAR has been expanding its ecosystem through strategic partnerships. One such collaboration is with Ceramic, which is designed to enhance cross-chain identity management and dynamic data storage capabilities. This addition promises significant improvements for the platform.

Internet Computer (ICP)

Market cap: $4,890,786,988
Current price: $10.53

The Internet Computer (ICP) represents a collection of protocols empowering autonomous data centers globally to cooperate, offering a decentralized solution in place of conventional cloud services.

As a researcher exploring the realm of web3 technology, I can affirm that this innovation plays a pivotal role in fostering the creation of autonomous applications. These applications, which include social media platforms, enterprise structures, gaming environments, and virtual realities, are inherently resistant to manipulation due to their decentralized nature.

As a researcher exploring the intricacies of blockchain technology, I’ve come across an innovative network that employs smart contracts, which they refer to as canisters. These canisters serve as self-contained units, hosting data, computing power, user interfaces, and content directly on the blockchain. By utilizing Web Assembly code and memory pages, these smart contracts operate more efficiently and cost-effectively compared to conventional ones. This setup allows for a streamlined execution of applications without relying on off-chain resources.

As a network analyst, I would describe it this way: The native utility token, ICP, plays a pivotal role in the functioning of the Internet Computer network. It enables governance decisions, remunerates nodes for executing computational tasks, and incentivizes participants to contribute to the ecosystem’s growth.

As a crypto investor, I’m observing that at this moment, ICP is being traded at a price of $10.52. This figure represents a significant surge of 186.7% over the past year. However, it’s essential to acknowledge that despite this growth, the value remains an immense 98.5% below its All-Time High (ATH) of $700.65 which was reached on May 10, 2021.

As a researcher, I’ve discovered that ICP holds the 27th position on CoinGecko with an impressive market capitalization of $4.89 billion, trailing only behind NEAR amongst artificial intelligence (AI) cryptocurrencies. The significant value attached to ICP and the multitude of projects developed upon it, spanning decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, social media, and the metaverse, make a strong case for considering ICP as one of the most promising AI cryptos to invest in during 2024.

Render (RNDR)

Market cap: $3,243,369,567
Current price: $8.39

As an analyst, I would describe Render (RNDR) as follows: I work with a distributed GPU network called RNDR, which is established on Ethereum. This platform is specifically engineered for animation, visual effects rendering, and motion graphics projects. The native token, RNDR, plays a crucial role within this ecosystem, facilitating an efficient rendering process.

In this network, there are two primary groups involved: the content producers, referred to as creators, and the node operators. Creators harness the extensive GPU capabilities of the network to generate superior visuals in a timely and cost-effective manner. Conversely, node operators grant usage of their GPU processing power to creators and receive RNDR tokens in return.

In the year 2024, Render gained substantial recognition, mainly because of its partnership with Apple. Notably through Octane X, a GPU rendering tool created by OTOY, which was unveiled during an Apple presentation. As a result, the value of RNDR tokens jumped by 11%.

“This project earns a spot on our top AI picks due to its solution to a genuine issue – reducing costs and time in the creator economy through more affordable and efficient rendering.”

An extra benefit for token owners is the ability to generate returns by leasing out their computational resources. This feature increases the project’s allure, potentially resulting in increased network involvement, and subsequently, higher token desire due to the potential price increase.

Based on data from CoinGecko, RNDR‘s current price falls short of its all-time high by 38%, yet it marks a significant increase of 331% compared to the previous year. Nevertheless, the token’s value has experienced a 17.4% decrease in the past week, which is more than the 6.30% drop observed in the overall crypto market.

Despite this, Render’s persistent advancements in AI technology and collaborations with prominent industry partners such as Endeavour, Stability AI, and OTOY to improve AI training and inference capabilities while keeping costs reasonable position it among the leading AI cryptocurrencies of 2024.

Injective (INJ)

Market cap: $2,812,518,858
Current price: $29.26

As a crypto investor, I’d describe Injective (INJ) as my go-to platform for seamlessly trading derivative assets across various decentralized networks. It functions as a layer-2 solution, ensuring enhanced security while facilitating cross-chain interactions.

The Injective protocol stands out among AI crypto coins for several reasons. It makes it easy for users to set up swift, safe, and uncomplicated decentralized exchanges (DEXs). Given the increasing interest in decentralized finance (defi), Injective could emerge as a preferred choice, leading to heightened demand for INJ tokens.

next, its cross-chain feature enables effortless trading among various blockchains. With the increasing interconnectedness of the crypto sphere, the capacity to exchange tokens between networks will turn out to be vital. Consequently, INJ may occupy a favorable position for future expansion due to this capability.

As a researcher studying the Insolar (INJ) network, I can share that INJ token holders have the opportunity to contribute to network security by staking their tokens. In return, they receive rewards. This staking mechanism encourages active participation in the network, and as more INJ is staked, the circulating supply decreases, which could potentially lead to an increase in the token’s value.

As an analyst, I’ve observed some significant price movements in INJ over various time frames based on data from CoinGecko. In the past 12 months, there has been a remarkable increase of approximately 404.5% in the price of INJ. Furthermore, within the last 24 hours, INJ has experienced a gain of around 7.2%, and over the previous week, it has risen by 18.6%. Presently, INJ is trading at a price point of $29.26, making it the most expensive coin on our AI-curated crypto list.

As a crypto investor, I’m excited about Injective’s recent developments that have the potential to increase its value. The team has made significant upgrades, such as the Ionic upgrade, which enhances the platform’s interoperability. Furthermore, the integration with Polygon is expected to enhance the user experience and boost liquidity. These advancements, along with INJ‘s unique use cases and positive price trend, make Injective a remarkable project in the AI crypto space that I believe is worth keeping an eye on.

The Graph (GRT)

Market cap: $2,384,514,427
Current price: $0.2519

The Graph (GRT) functions as a global, decentralized API that employs GraphQL language for organizing and indexing data in an open-source manner.

The platform encourages network engagement from indexers, curators, and delegates by employing the use of the GRT token. A token adhering to the ERC-20 standard, GRT has experienced a significant price surge of 153.9% in the last year, highlighting its efficiency in reducing development time for creators. Moreover, priced at $0.2519, GRT is the most budget-friendly among the leading AI cryptocurrencies in 2024.

One compelling reason why The Graph stands out among top AI crypto projects for investment is its ability to turn chaotic blockchain data into organized and accessible information. With the expanding reach of blockchain technology and the rising number of projects and applications being developed on it, the importance of swift and effective data retrieval is set to escalate. This growing demand could potentially lead to increased value for GRT.

Further, The Graph plays a vital role in the upcoming era of the internet, known as web3, which prioritizes decentralization and user experience. With the projected expansion of web3 adoption, there is a strong possibility that GRT‘s value will surge due to its indispensable function for developers.

Lastly, The Graph’s internal demand mechanism makes it necessary for users to employ GRT tokens to engage with the platform. Consequently, as the platform gains more popularity and becomes more useful, the need for GRT tokens is also expected to increase.

In the last quarter of 2023, The Graph experienced significant expansion in terms of usage. The number of queries made on it surged by approximately 65%, reaching almost a billion queries in total.

In the fourth quarter of 2023, I observed significant advancements within The Graph ecosystem that will shape the future of decentralized data. These updates have evolved the protocol to cater to more diverse data requirements and better support web3 developers in 2024. Here are some highlights from the Q4 2023 progress report:
— The Graph (@graphprotocol) February 16, 2024

“The expansion of the AI industry contributed in part to the surge, as well as The Graph’s collaboration with other blockchain platforms such as Moonriver and Arweave. This broadened The Graph’s influence and enhanced its capabilities.”

These developments are expected to strengthen the project’s role as a essential infrastructure supplier within the web3 sector, thereby boosting the potential for GRT‘s expansion in the year 2024.

Final thoughts

Choosing the optimal AI cryptocurrency among the vast array of options available can be a challenging task. Nevertheless, you might want to consider examining the following AI crypto projects. These projects have distinguished themselves by ranking among the top five in terms of market capitalization and daily trading volumes according to data from both CoinGecko and CoinMarketCap.

As a researcher studying the current market trends of AI cryptocurrencies, I’ve noticed that prices vary significantly, ranging from $0.2519 to $29.26. Regardless of your investment budget or risk tolerance, there seems to be an entry point suitable for every crypto investor aiming to find the most promising AI crypto to add to their portfolio in 2024.

It’s recommended that you conduct thorough research on your own to determine the most suitable AI cryptocurrency for your investment goals and financial situation. Additionally, consult with a financial advisor, and invest an amount that you are prepared to potentially lose.

2024-06-12 20:34