AI cryptocurrencies had a strong performance during the weekend as investors anticipated that the sector will continue growing in the future. Most of these coins have jumped to their all-time highs or their highest point since 2021. This article identifies some of the best AI tokens to buy and why they are gaining traction.
Why AI cryptocurrencies are booming
Generative AI has been the fastest-growing industry in the world in the past few years. Just recently, OpenAI, the creator of ChatGPT, raised funds at a valuation of over $80 billion. This makes it a highly successful company that has room to grow as it continues to disrupt key parts of the global economy.
Further, AI companies have boomed, making them the fastest growing in the Wall Street. Nvidia, the manufacturer of advanced semiconductors that power AI, has seen its total market cap surge to over $1.8 trillion. This growth makes it the fourth-biggest company in the world. Notably, it has taken just a few months for its market cap to move from $1 trillion to $1.8 trillion and analysts see it soaring to $2 trillion soon.
Super Micro Computer (SMCI) has also gained market share in the industry as its stock has more than doubled this year. Like Nvidia, SMCI builds items that are used to power and handle vast amounts of data.
SingularityNET (AGIX)
SingularityNET (AGIX) is one of the best AI cryptocurrencies to invest in. It is a platform that is building a decentralized AI marketplace with some of the most advanced tools in the industry. AGIX, its token, has grown its market cap to over $623 million, making it the 125th biggest cryptocurrency in the world.
SingularityNET has several companies in its ecosystem. For example, it has Rejuve.ai, a company that is building longevity solutions. The other top players in the ecosystem are Cogito, Deep Funding, Nunet, and True AGI, among others. AGIX token price has surged to $0.50, its highest point since March 24th. It has soared by over 200% from its lowest point in September.
Render Token (RNDR)
Render Token is not necessarily an AI crypto. In some cases, it is described as a Decentralized Public Infrastructure (DePIN) tool. However, it can also be put in the AI category because of what it does.
In this case, Render Token powers a decentralized network that enables people to share their GPU, which is the same solution that Nvidia offers. With GPU demand and cost rising, Render creates a platform that has mutual benefits. People with extra space can share their GPUs and make money.
This is one of the top reasons why the Render Token price has surged recently. It has moved from less than $1 in 2023 to $6.
Fetch.ai (FET)
Fetch (FET) is another top AI crypto to invest in. It is a leading blockchain that runs AI agents, which helps developers simplify their building process. These agents can connect, search, and transact in most AI marketplaces. These agents can negotiate and transact on a person’s behalf.
Fetch.ai has also done well over the years as the demand has risen. FET has jumped from $0.058 in 2023 to over $0.85. This means that it has soared by more than 1,000% in this period, giving it a market cap of over $907 million.
Other AI tokens to buy
There are other AI cryptocurrencies to consider. The Graph (GRT) is seen as an AI token because it simplifies the querying process among developers. GRT is a big coin with a market cap of over $2.9 billion.
Worldcoin is another AI crypto to know. It was started by Sam Altman with the goal of creating a decentralized public ID. The ID network would then help to power both AI and other applications. Other AI tokens are Bittensor, Akash Network, and Ocean Protocol.
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