5 best AI crypto coins and projects trending in 2023
by Tom Nyarunda
As cryptocurrencies become increasingly popular, Artificial Intelligence (AI) cryptocurrencies have also emerged. As the bourgeoning AI technology evolves and matures, it’s changing investment strategies and assisting in developing new products, including crypto. This article explores the immense potential of the best AI crypto coins.
Artificial Intelligence and cryptocurrencies
After more than a decade since the inception of blockchain technology and the financial revolution that is cryptocurrency, Artificial Intelligence is gradually filling the emergent technological gaps. Seen as the latest breakthrough technology revolutionizing mechanisms, its entry into the cryptocurrency market introduces AI algorithms that streamline operations processes, automate tasks, and offer predictive analysis.
Developers are now incorporating Artificial Intelligence with blockchain to make systems more efficient. Moreover, it’s becoming clear that cryptocurrencies integrating AI technology into their blockchains have high ROIs compared to traditional digital assets by presenting advantages with the potential to transform the crypto sphere.
AI crypto coins and how they work
AI crypto coins are digital assets designed for AI-based projects by integrating AI into various functionalities, including price prediction, digital asset management, fraud detection, and AI-based DAOs. They work by:
Data collection: The tokens collect information from different sources, including social media, news articles, and market patterns, which they examine using machine learning algorithms to predict trends and market behavior.
Trading strategy: The AI systems automatically create a trading pattern showing the best times to buy, sell, or hold the asset based on the analysis.
Execution: After choosing a trading strategy, the AI system autonomously employs smart contracts to execute trades on the blockchain network when specific preset criteria are met.
Endless learning and improvement: AI crypto coins use machine learning algorithms to learn and continuously improve their performance. The system progressively reviews previous outcomes to modify its tactics as the need may arise in the future, thus making the coins more efficient with time.
The recent growth of AI systems significantly impacts crypto projects as most new ones implement automated systems into emerging Web 3.0 apps. Several tokens have arisen in this genre, offering many benefits to users. While they're still works in progress, they portray tremendous growth potential. Moreover, the sudden surge in ChatGPT's popularity boosted interest in such projects. Data insight from CoinGecko shows a 16X increase in the prices of AI crypto coins.
The most promising AI crypto coins
The following are the five hottest AI cryptocurrencies on the market today.
Oasis Network (ROSE)
The Oasis Network (ROSE) is a Web 3.0-based blockchain platform that provides a privacy-preserving layer for its DApp smart contracts. The coin features a "ParaTime" function that executes smart contracts and maintains privacy and security. ROSE is Oasis Network's native token with a market cap of $257 million and is currently priced at $0.099 per CoinMarketCap. For anyone interested in investing in AI coins, note that Oasis Network charges low gas fees and has a modular architecture featuring robust security.
Render (RNDR) has been in the limelight in 2023 after its price surged from at least $0.40 in January to over $2.69 last June. The project’s native coin is currently valued at $1.51 with a market cap of $561 million. This is perfectly understandable, considering distributed GPU rendering, which is NVidia’s pilothouse, remains its core competency. Render was created on the Ethereum blockchain, where developers can use it to create high-bandwidth DApps for finance, healthcare, gaming, or other industries.
Injective Protocol (INJ)
Dubbed “the fastest layer 1 blockchain”, the Injective Protocol is backed by leading venture capitalists like Mark Cuban, Binance, and Pantera. It is also famed for offering auto-executing smart contracts. INJ, the platform’s native token, has a market cap of $578 million and is priced at $6.90 at the time of writing. Developers can use the Injective protocol to create Web 3.0-based applications for the finance industry. The platform’s interoperability feature enables users to connect with other blockchains and trade without gas fees seamlessly.
The Graph (GRT)
The Graph’s native token GRT is trailing the blaze for other AI cryptocurrency coins by recently exceeding the $1 billion mark in circulating supply. Currently trading at $0.08 and with a market cap of $760 million, the Ethereum-based token has an indexing protocol that makes it a search engine for blockchain ecosystems. After experiencing major significant rallies offering long positions from crypto whales last May, GRT has the potential for a good crypto investment vehicle.
SingularityNET and its native token AGIX, trading at $0.18 and a market cap of $222 million, have enjoyed massive gains in the recent past, making it a strong contender for the pole position among AI cryptocurrency coins. Described as possessing "decentralized human-level intelligence", the open-source network is designed for building Artificial General Intelligence (AGI), which Singularity describes as "decentralized human-level intelligence". It is considered a safe bet in the industry.
AI crypto coins have shown their potential to create a safer and more secure crypto space by using the power of AI to revolutionize the industry. By leveraging its intelligent analytics and powerful automation tools, AI may be the missing link that could eventually drive cryptocurrencies toward greater adoption.
Tom is a freelance writer with over 15-years’ experience in content creation, blog writing, and SEO specializing in the blockchain and cryptocurrency niche. He is a philosophical figurehead who believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.