Artificial intelligence (AI) passes among the most popular phrases beginning late last year and into 2023, fueled by OpenAI’s successful launch of ChatGPT. With the overall cryptocurrency market cap down 1.14% to $1.059 trillion, AI crypto coins have become a mainstream trend in the cryptocurrency sector, recording significant price surges as investors flood AI assets.
The next #AI project to pump is ____ pic.twitter.com/QNP1lc8xls
— Crypto Tony (@CryptoTony__) February 7, 2023
Further supporting the case for AI crypto coins, Tron founder Justin Sun recently revealed that his company would begin working on AI. However, before the Tron executive lives up to his commitment, the following is a brief dissection into some of the surging AI crypto coins and the fundamentals around their current bull run.
AI Crypto Coins Going Mental in 2023
While the wider cryptocurrency market continues to enjoy a well-earned rally that started at the beginning of the year, AI crypto coins, a relatively niche subset of the industry, have been outpacing the rest of the market players in a big way.
What #crypto are you eyeing this week? 👀 #AI tokens are all the hype this week!
Top 5 Trending:
• SingularityNET – $AGIX
• https://t.co/3TekemrOpX – $FET
• Artificial Liquid Intelligence – $ALI
• Ocean Protocol – $OCEAN
• DeepBrain Chain – $DBChttps://t.co/NcbfJVF46n pic.twitter.com/MxDFydvh7g
— CoinGecko (@coingecko) February 7, 2023
Fetch.ai (FET) is one of the most bullish AI crypto coins this year, surging more than 463% year-to-date. It is the ticker token for the Fetch platform, which develops autonomous agents to help developers automate repeatable processes. The FET token helps power peer-to-peer (P2P) applications with automation and AI.
At the time of writing, FET was trading at $0.45, and while this was an 8% dip in 24 hours, the price was still 53.3% higher than its rate a week ago and 189.5% higher in the last month.
The 2023 rally displayed by the FET token is attributed to its AI tools, alongside the introduction of staking functionality a few months ago that saw it listed on several crypto exchanges. The FET token recently secured a listing on Huobi, opening FET (Fetch) spot trading (FET/USDT) and spot Grid trading (FET/USDT) for users.
New Listing on #Huobi$FET @Fetch_ai#AI assets zone now launched!
Details: https://t.co/1HvH8EixTx pic.twitter.com/ZwGfpcGmWg
— Huobi (@HuobiGlobal) February 8, 2023
Notably, given that there is no major catalyst behind the FET bull run, the coin’s price may correct soon after momentum flattens out.
Artificial Liquid Intelligence (ALI)
Artificial Liquid Intelligence is the native token for Alethea AI, self-proclaimed to be the world’s first multimodal AI system generating characters from natural language. While very little is known about ALI coin, its website notes that the token is backed by giant crypto exchange Binance, Crypto.com, and Multicoin Capital.
Artificial Liquid Intelligence has climbed the ladder to secure a place among the most prominent cryptocurrencies worldwide, with the ALI token now valued at more than $241.8 million, around 10% higher than the last day.
At #222 on CoinMarketCap, the token was trading at $0.067 at the time of writing after gaining 9.7% in the last 24 hours, 87% in the last week, and 413% in the last month.
SIngularityNET (AGIX and SDAO)
SingularityNET touts itself as a distributed network AI platform and a blockchain-powered artificial intelligence marketplace where users can “create, share, and monetize” AI services. It has two native tokens, AGIX and SDAO, which have recorded notable bull runs over the past few months, jumping 595.4 % and 293.4% in the last month, respectively. As such, they feature among the best-performing AI crypto coins in the industry today.
The SingularityNET ecosystem is developing a decentralized AI platform that will allow anyone to search for and buy AI products.
Fresh out today: January’s edition of the #SingularityNET Ecosystem Roundup!
We share a spectrum of updates on what was another month of incredible growth across the whole ecosystem.
🔗 https://t.co/ehx74ONrVh pic.twitter.com/HmPpaUDcrp
— SingularityNET (@SingularityNET) February 9, 2023
The platform would also enable developer efforts to build and sell their AI products alongside featuring a Domain Specific Language (DSL). The price surge displayed by AGIX and SDAO can be attributed to the ecosystem’s growth.
The Graph (GRT)
The Graph is a big-data indexing protocol advertised as ‘Google’s blockchain.’ The token has recorded a massive bull run, soaring over 65% at one point in around 24 hours. Currently, the GRT token is up 71% in the last week and 126% in the last month.
The price broke out into the scene in late 2020 and early 2021 but eased off following the creeping of a bear market catalyzed by weak tokenomics as a chunk of tokens, which was vested to founders and early investors and backers, was unlocked in little bits over the past two years.
Notably, The Graph has been active in collaborations and has recently joined hands with Spool as users look to leverage the benefits of higher uptime, lower data latency, and increased performance.
🔵 Hello Spoolers!
We’ve published our subgraph to @graphprotocol‘s decentralised network!
Now, our subgraph is leveraging the benefits of higher uptime, lower data latency & increased performance thanks to hundreds of independent Indexers powering The Graph Network!#DeFi pic.twitter.com/dOEFFgC5kN
— Spool (@SpoolFi) February 9, 2023
Nevertheless, the GRT token has made remarkable advancements since then, recording nearly 90% of its total and maximum supply in circulation. That, coupled with “an AI-crest-riding” narrative, has the token well set as a potential mid-high-cap gem should bullish market conditions continue.
Besides the above, other AI crypto coins we have mentioned in the past include Numeraire (NMR), Oraichain (ORAI), Big Data Protocol (BDP), Ocean Protocol (OCEAN), DeepBrain Chain (DBC) and iExec (RLC), all of which are doing relatively well too.
AI Crypto Coins Are The Future: Nansen CEO
In Episode 8 of Hashing It Out, Nansen CEO Alex Svanevik commented about the use of artificial intelligence in the crypto arena, saying he is confident that artificial intelligence will be integrated into crypto applications in a way expected to improve user experience significantly. Likening how Bing integrated ChatGT, the Nansen executive believes “several crypto on-chain data platforms will use AI to help users find information more quickly, Cointelegraph reports.
It is worth mentioning that most people in the cryptoverse would not have been able to name even one AI crypto coin barely two months ago. It, therefore, goes without saying that the current rally can be attributed to the Fear of Missing out (FOMO), which investors should never use as an investment strategy.
Alternatives For AI Crypto Coins
If unsure of the bull run displayed by AI crypto coins, consider FGHT, the native token of the Fight Out ecosystem.
Fight Out is a move-to-earn (M2E) project that helps participants improve their health, earn rewards, and compete in the metaverse. The app tracks your life workouts and improves your avatar’s stats as you progress.
Looking for a way to earn rewards while getting fit? 💪
The #FightOut app makes it easy to earn crypto rewards while tracking your progress, no matter where you are!
Say goodbye to boring workouts and hello to #Web3 fitness. 👊https://t.co/z34Nkx3ffi#Blockchain #MoveToEarn pic.twitter.com/CIJboxoeb5
— Fight Out (@FightOut_) February 8, 2023
FGHT is currently in the presale stage, having raised $4 million with only nine hours left to the end of the current stage. The token has been slated for listing on April 5, a month after the end of the presale phase.
Fight Out (FGHT) – Move to Earn in the Metaverse
- CertiK audited & CoinSniper KYC Verified
- Early Stage Presale Live Now
- Earn Free Crypto & Meet Fitness Goals
- LBank Labs Project
- Partnered with Transak, Block Media
- Staking Rewards & Bonuses