In today’s rapidly evolving tech landscape, two groundbreaking technologies, Artificial Intelligence (AI) and cryptocurrency, have emerged as frontrunners in innovation.
The fusion of these two domains has given rise to an intriguing concept known as AI cryptocurrency. These tokens are specifically designed to facilitate diverse AI-based blockchain initiatives, ranging from cutting-edge games to next-generation Web 3.0 applications.
Understanding Cryptocurrency
Cryptocurrency, in its essence, is a form of digital currency that empowers users to engage in decentralised transactions.
This decentralisation implies that transaction records, account balances, and other crucial financial data are not housed within conventional financial institutions but are instead maintained by individuals who employ specialised software voluntarily.
The cryptocurrency phenomenon has revolutionised digital payments since its inception in 2009 when the enigmatic figure known as “Satoshi Nakamoto” introduced Bitcoin to the world.
Bitcoin swiftly emerged as a market leader, establishing itself as the gold standard for digital currencies. Alongside Bitcoin, other star cryptocurrencies such as Ethereum, Litecoin, Ripple and Dogecoin have flourished, each distinct in its features, applications and properties.
Unravelling AI Cryptocurrency
AI cryptocurrency is reshaping the landscape of blockchain technology, offering access to mighty AI platforms like The Graph and SingularityNET. Users can use tokens to exploit these formidable artificial intelligence capacities within these ecosystems.
Let’s find out the reasons propelling their success.
The Top 10 AI Cryptocurrencies of the Year
Cortex: introduces an innovative crypto project that empowers developers to construct and monetise AI-driven models on the Ethereum blockchain. Through its pioneering Virtual Machine, which leverages GPU processors for enhanced processing capabilities, developers can access a wide array of potent algorithms, all consolidated on a single platform.
The value of CTXC tokens has surged, incentivising developers to join Cortex. Prices experienced a remarkable 120% increase from January to February, peaking at $0.35 before recently stabilising around $0.22 per token.
The Graph: is a pioneering protocol that leverages Ethereum blockchain technology to index and query data, akin to how Google indexes websites.
Currently boasting a market capitalisation of approximately $1.3 billion, its native cryptocurrency, GRT, has exhibited notable fluctuations, ranging from $0.132 in March to $0.174 on April 18th, underscoring substantial growth potential.
Ocean Protocol: facilitates the monetisation of data and services, witnessing a substantial price surge from $0.14 in November to approximately $0.14 today, signifying a remarkable increase in value.
iExec: stands as a revolutionary platform that uses the synergy of AI and blockchain to monetise computing power, offering access to cloud resources.
Its native currency, RLC, has experienced some market cap volatility, currently trading at approximately $1.6, a slight decrease compared to its April peak of $1.8.
Numerai: with a market capitalization of approximately $107 million is an innovative blockchain network that empowers global stock markets with advanced AI and machine learning techniques.
The platform’s native token, NMR, has experienced significant price fluctuations since its rise in 2017 but remains popular among investors, currently trading at around $17 per token.
dKargo: with a market capitalisation of nearly $92 million, utilises blockchain technology and AI to revolutionise logistics, enhancing stakeholder trust. The native token, DKA, grants access to secure data stored in an immutable system.
However, its value has declined significantly since early 2021, when it traded at approximately $0.54 per token, now resting at about $0.03 per unit.
Phala Network: is a rapidly evolving AI-augmented blockchain platform offering decentralised cloud computing services. Its native currency, PHA, has experienced notable volatility since its May 2021 launch.
Despite this, it reached an all-time high of approximately $78 million. It currently trades at about $0.14 per token, demonstrating potential for further growth.
Covalent: represents an innovative network enabling developers to aggregate data from multiple blockchains, including Ethereum, Polygon and Avalanche. This empowers the creation of robust applications spanning various industries like retail and banking.
The native token, CQT, has witnessed substantial growth since its introduction in August 2021, with a current of almost $93 million and a price of $0.16.
ECOTERRA: the groundbreaking project has made waves in the crypto space, merging a unique “recycle-to-earn” concept with AI-powered algorithms to combat climate change. During its Initial Token Offering, investors could acquire tokens for just $0.004, which surged to $0.78 per token at launch, raising over $3 million.
Fetch.ai: stands as a pioneering blockchain and AI platform employing “autonomous economic agents” to generate profits for users. Recently, Fetch.ai joined forces with eToro, a leading crypto exchange known for its strict regulations and transparency standards.
The exclusive token, FET, is earned by miners validating transactions on the network and can be used for services related to autonomous agent sage within Fetch’s infrastructure.
Conclusion
AI and cryptocurrency are an exhilarating dynamic duo. As an innovator in integrating these two realms, Fetch has already achieved an impressive market capitalisation of $290 million, highlighting the immense potential for investors seeking long-term success within the sphere of AI-enhanced blockchain cryptocurrencies.