An important paradigm shift has occurred in the cryptocurrency environment as a result of the convergence of AI and blockchain technology, which has given birth to a group of influential pioneering AI blockchain projects.
Emerging from the price spike in various AI-related cryptocurrencies, the cryptocurrency universe is currently experiencing quite a commotion, following the recent tussle between OpenAI and its former chief executive Sam Altman.
Moreover, the upward trajectory observed in the valuation of AI-focused cryptocurrency tokens aligns seamlessly with the prevailing sentiments in the global cryptocurrency market.
This surge is indicative of a broader trend, reflective of a notable 1.53% augmentation in the overall global cryptocurrency market capitalization, which now stands at a substantial $1.42 trillion.
This statistical correlation underscores the interconnected nature of AI crypto token valuations with the broader movements in the cryptocurrency market, suggesting a cohesive and symbiotic relationship between the two domains.
Meanwhile, there are three AI blockchain projects that often find themselves ranked among the top 10 AI and big data tokens. Thanks to recent upgrades, these projects are now the AI crypto projects to keep an eye on in 2024 as they redefine AI within the blockchain sector.
Source: Santiment
Top 3 AI Crypto Projects
The Graph (GRT)
The decentralized indexing technology The Graph is seeing the highest whale activity since February, and the number of new addresses is skyrocketing, according to on-chain analytics company Santiment.
Market data shows that on November 20, the price of Graph increased 7.50%, reaching $0.141. Additionally, the token saw a small increase of 7.45% in the last week, indicating a positive attitude towards the cryptocurrency.
By utilizing AI in two distinct methods, the platform is well-positioned. Initially, it possesses the capacity to transform into a major search engine for the blockchain. The platform may utilize AI to assist users in their data searches across Avalanche and Ethereum.
Render (RNDR)
An Ethereum blockchain-based distributed GPU network, Render is a key platform for animation, VFX rendering, and motion graphics. The Render ecosystem relies on its native token, Render (RNDR), a utility token designed for transactions and engagements.
This complex network architecture gives content makers exclusive access to GPU processing power, enabling the rapid production of high-quality photos and visually captivating material at an unprecedented speed and cost.
As of Tuesday, the market cap of cryptocurrencies reached $1.38 trillion. Chart: TradingView.com
Node operators lend GPU processing power to content creators, which is crucial to this ecosystem. These node operators receive render tokens for their efforts, forming a symbiotic relationship that supports the Render network’s operations.
As of this writing, Render (RNDR) has a trading value of $2.30, which adds to its impressive $857 million market capitalization.
SingularityNET (AGIX)
SingularityNet, a prominent decentralized AI marketplace, lets users sell their AI services. This new ecosystem lets people monetize their AI services, attracting buyers.
ERC-20 token AGIX facilitates this exchange and SingularityNet ecosystem transactions and settlements. AGIX tokens enable AI agents to transact across protocols, enabling interoperability.
In addition to transactions, AGIX channels incentives in SingularityNet’s dynamic ecology. Participation in the marketplace and community-driven projects like SingularityDAO, SingularityNet’s decentralized autonomous organization, rewards AGIX tokens.
AGIX’s dual purpose highlights its importance in facilitating transactions, encouraging community interaction, and decentralizing SingularityNet’s growth.
AGIX was trading at $0.29, up nearly 7% in the last 24 hours. The AI crypto registered an impressive 15% rally in the last seven days, data by Coingecko shows.
What The Future Holds For AI Cryptos
By 2024, the combination of blockchain technology and artificial intelligence (AI) might drastically alter the landscape. This is something the crypto community should be watching closely as the fusion continues to advance technology.
In terms of creativity, decentralization, and transformative force, the future appears to be drastically different when one considers the four revolutionary enterprises at the forefront of this coalition.
Featured image from Freepik