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Tuesday, May 28, 2024

Top 5 AI Cryptocurrencies to Watch in April

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  • Render (RNDR) leads the thriving AI cryptocurrency market, highlighted by its adoption by Coinbase.
  • Other AI coins like Bittensor (TAO), The Graph (GRT), Fetch.ai (FET), and SingularityNET (AGIX) have also shown significant growth and market contributions.

Render (RNDR)

Despite the ongoing correction, the Artificial Intelligence (AI) coins niche has been thriving lately, accounting for over $25 million of the total market capitalization of the cryptocurrency industry. The biggest token of that type is Render (RNDR).

The asset’s price currently hovers around $9.60, a 30% decline compared to the all-time high recorded in mid-March.

RNDR Price, Source: CoinGecko

RNDR is the native token of the Render Network Foundation, a leading provider of decentralized GPU solutions that aims to revolutionize the digital creation process. Earlier this year, it caught the eye of Coinbase, which placed it on its roadmap section and later allowed trading services with it.

Bittensor (TAO)

The second-largest AI coin in terms of market cap is TAO. It was one of the best-performing cryptocurrencies for months, with its price exploding by 600% since November 2023. Its peak occurred in March when the valuation spiked above $750. As of the moment, TAO trades at around $550.

TAO Price, Source: CoinGecko

Bittensor is an open-source protocol that employs blockchain technology to create a decentralized machine-learning network. The native token TAO allows users to extract information from the ecosystem while tuning its activities to meet their needs. The primary goal of the protocol is to design a market for Artificial Intelligence where consumers and producers interact with each other in a fully transparent way.

The Graph (GRT)

This AI token has a market capitalization of approximately $3.3 billion, making it the third-largest in the realm. Its price has suffered lately, dipping by 15% on a two-week scale, but the situation is quite positive when looking at a one-year perspective (a 150% increase).

GRT Price, Source: CoinGecko

The Graph is a decentralized indexing protocol for blockchain data designed to enable querying on the Ethereum network. The native cryptocurrency GRT ensures the integrity of the data secured within the ecosystem.

Popular dapps, including Uniswap, Aave, and Curve, employ The Graph in their operations.

Fetch.ai (FET)

The asset was on a roll last week, with its price hitting an ATH of almost $3.50 and its market capitalization briefly surging above the $3.5 billion mark.

FET’s value has plunged in the past 24 hours, in resonance with the broader market correction, but is still 650% up on a yearly scale.

FET Price, Source: CoinGecko

Fetch.ai is a blockchain platform that uses AI to help people automate everyday tasks like booking a flight, parking space, and other services.

SingularityNET (AGIX)

This is the fifth-largest AI token (at least as of the moment of writing these lines). Similar to its rivals, March has been quite successful for AGIX, with the price rallying to an ATH of $1.45. Currently, the valuation stands at around $1.13.

AGIX Price, Source: CoinGecko

SingularityNET was launched on the belief that Artificial Intelligence should not be “the exclusive domain of a few but a shared resource that benefits all of humanity.”

AGIX is the native cryptocurrency of the platform, and it is used to facilitate transactions within the ecosystem, such as rewards for network participants and payments for AI services.

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