AI's Role in Cryptocurrency: Top Coins Worth Investing in for the Next Uptrend
The recent launch of OpenAI's video generation model Sora has set off a wave of excitement in the crypto market, contributing to a significant crypto price rally. This surge has particularly benefited AI-focused cryptocurrencies, as industry experts predict that these digital assets could remain relevant in the long term due to their potential for regulation and integration with established platforms.
One such project that has been making waves is Fetch.ai, launched in 2019 with its native cryptocurrency FET. Currently, FET is one of the top 100 biggest cryptos by market cap and top 30 by daily trading volume. The hype around the Sora launch was amplified by NVIDIA's earnings report, indicating a growing demand for hardware that supports resource-intensive AI applications. As a result, FET went up by over 100% in the last year and gained 70% during the recent AI crypto rally.
Fetch.ai aims to build a permissionless and decentralized machine learning network, with multiple use cases, like optimization of digital services that rely on large-scale databases. The project has a large community and is an established player in the AI crypto space.
Another promising AI crypto is Ocean Protocol (OCEAN), which aims to fill the niche at the intersection of blockchain, data, and AI. During the AI crypto rally, Ocean Protocol surged 50%, solidifying its position as one of the most promising AI cryptocurrencies.
The Graph (GRT), the native token of The Graph, a protocol that indexes and queries data from blockchains, has also seen a significant increase in value. After the post-Sora launch rally, GRT went up by over 40%. GRT is available on Ethereum, Solana, Arbitrum, Near, Sora, and the Avalanche C-Chain, making it accessible to a wide range of crypto investors.
SingularityNET (AGIX), the native token of a well-established crypto AI platform, also saw a significant increase in value during the February 2024 rally, gaining over 100%. SingularityNET is known for developing Sophia, the world's 'most expressive robot', and is working on an AI framework that can reach human intelligence levels.
While not an AI crypto coin per se, Worldcoin (WLD) has a strong association with artificial intelligence through its parent company and the World ID tool, which could be instrumental in differentiating between man and machine.
The top five AI crypto projects gaining value recently due to the AI boom are Snorter Token (SNORT), SUBBD (SUBBD), Virtuals Protocol (VIRTUAL), Fetch.ai (FET), and VeChain (VET). These projects offer various utilities, such as AI-powered trading tools, creator-fan platforms, AI-metaverse integration, decentralized machine learning for finance and energy, and smart contracts with sensor data integration for supply chains respectively.
As the intersection of artificial intelligence and blockchain technology continues to grow, it's clear that AI crypto projects are currently going up in value. However, it's essential to remember that cryptocurrencies often thrive on hype and attention, and while these projects have promising potential, they should be approached with caution.
