While top cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are more popular and much more traded by investors, some low-market tokens are great alternatives for investors. Some of these tokens are artificial intelligence (AI) coins.
These coins are part of AI-related cryptocurrency projects, leveraging the recent AI buzz and trends to create opportunities in the crypto space. Today, they have a decent chunk of the crypto market share, with a market cap worth around $40 billion in 2024. This article explores the top-rated AI crypto coins and why they are worth considering.
What Are AI Coins?
AI coins (artificial intelligence tokens) are cryptocurrencies that are part of AI-focused crypto projects. They are a generation of cryptocurrencies that have their roots in the tech world, providing investors with the opportunity to invest in tech companies without necessarily having to buy their shares.
For instance, when you buy an AI crypto coin, you’re indirectly investing in its associated project. That way, you can potentially earn bigger returns as the AI project grows.
Moreover, AI and blockchain technology are two of the fastest-growing technologies today. Developers leverage both to create products that make crypto trading and financial investing easier.
That’s why these tokens operate like every other cryptocurrency. They can be traded on exchanges, used for transactions within and outside their ecosystems, and used to incentivize holders.
The Best 7 AI Coins With Potential in 2024
Now, let’s get into the details of the best AI tokens and projects to consider as 2024 winds down.
Near Protocol (NEAR)
First on our list of the best AI coins in 2024 is Near Protocol (NEAR). The token ranks as #1 among the top AI and big data tokens by market capitalization on CoinMarketCap, representing its high demand among traders and investors.
NEAR powers the Near Protocol network, acting as a means of payment for transaction fees and also available for staking. The protocol itself is a layer 1 blockchain that allows developers to build decentralized applications (dApps) to enhance scalability.
These dApps offer various use cases, including payments, gaming, and decentralized finance (DeFi). As of the time of writing, NEAR is trading at around $5, with over a 300% increase between October 2023 and October 2024.
Internet Computer (ICP)
With a market cap of around $3.8 billion as of the time of writing, Internet Computer (ICP) is another solid AI project that has had an impressive run in 2024. The ICP token powers a decentralized protocol that allows data centers worldwide to collaborate and provide an alternative to cloud services in the traditional world.
The goal to create a decentralized internet that allows developers to build and host dApps makes the project exciting. The ICP token acts as the protocol’s utility coin, allowing holders to participate in governance and also stake their assets for rewards. Additionally, the network rewards participating data centers with the token.
As of the time of writing, ICP is valued at around $8 and has experienced a significant price growth of over 150% compared to the past year.
Artificial Superintelligence Alliance (FET)
Ranked #4 among the top AI tokens by market cap, Artificial Superintelligence Alliance (FET) is a combination of previously existing AI crypto projects – Fetch.ai, Ocean Protocol, SingularityNET, and CUDOS. The alliance leverages the various AI-related goals of the combined projects to foster collaboration among AI users and developers.
FET is the combined utility token driving the alliance. It is trading at around $1.4 at the time of writing, with a 1-year price growth of over 500%.
Render (RNDR)
The Render Network is a crypto AI project that creates a decentralized platform for graphic processing units (GPUs) to connect. The goal is to allow individuals to contribute their GPU power to help creatives boost their workflow.
Render (RNDR) is its utility token that users use to pay for animations, motion graphics, and other creative assets on the Render platform. The token is currently valued at around $5, with a one-year growth of over 190% as of the time of writing.
Injective (INJ)
Injective (INJ) was designed to facilitate decentralized finance across various blockchains. It offers cross-chain trading in the spot and derivatives markets, allowing crypto traders to access advanced DeFi opportunities in one place. It also supports developers looking to build DeFi applications.
INJ powers the network, offering trading and staking opportunities to its holders. The AI token is valued at around $19, with over a 150% price growth within the past year.
The Graph (GRT)
The Graph (GRT) is the penultimate crypto AI project on our list of the best AI tokens to consider in 2024. The indexing protocol enables seamless indexing of blockchain data, allowing users, especially developers, to easily find data to work with.
The GRT token is an ERC-20 coin that powers the indexing protocol. At the time of writing, it’s trading at around $0.15, making it one of the most affordable AI coins on the market. Its price has also increased by over 80% compared to the previous year.
BitTensor (TAO)
Despite being launched in 2023, BitTensor (TAO) ranks #2 among the top AI tokens by market cap in just one year. The decentralized machine learning (ML) protocol allows the development, training, and sharing of AI and ML models among developers, powering the broader AI ecosystem.
The TAO token is its native coin for rewarding contributors and securing the network. The token is valued at approximately $590 as of the time of writing, with an increase of over 1,000% between 2023 and 2024.
Conclusion
AI tokens are relatively new crypto coins leveraging the latest technologies to transform how people invest. Many of these projects have shown massive potential since they launched, offering early investors alternative altcoins to diversify their portfolios.
However, before investing in AI coins, do your due diligence and don’t just jump on the latest trend.
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Which AI coins have you invested in or are you looking to invest in before the end of 2024? Share your top picks in the comment section below.
FAQs
What is the best AI crypto to buy right now?
The best AI crypto coin to invest in right now is Near Protocol (NEAR). The token has the largest market cap and has increased by over 300% in the past year.
Which AI coin will boom in 2024?
Many AI crypto projects have shown massive potential in 2024. We’ve highlighted the top 7 in this article, including NEAR, ICP, RNDR, and GRT.
What are AI crypto tokens?
AI crypto tokens are cryptocurrencies affiliated with AI-related projects using blockchain technology. They are used for ecosystem governance, payments, and staking.
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