Discover the best AI cryptocurrencies of 2024. Learn about the top AI cryptocurrencies such as NEAR, ICP, RNDR, INJ, and GRT, and understand why they are worth your investment.
AI-powered cryptocurrencies are digital assets that support blockchain projects that rely on artificial intelligence. Not only do such currencies facilitate transactions within their ecosystem, but they often provide governance rights to their holders.
The growth in AI-related cryptocurrency projects has been exponential, with a total market capitalization currently amounting to approximately US$34 billion annually. Data From Queen Gekko.
In addition, analysts said is expected AI-related blockchain project revenues could reach $10.2 billion by 2030, and even $51 billion in some scenarios.
While the potential in this area is huge, the existence of so many AI tokens raises the question: What is the best AI token? Identifying the most promising tokens can be difficult, so we've put together this easy guide exploring the five best AI tokens you can consider.
Near Protocol (NEAR)
- Market value: $6,745,235,913
- Current price: $6.21
The NEAR (NEAR) protocol is designed to make decentralized applications (dapps) accessible to the general public.
The platform includes artificial intelligence and machine learning to automate functions such as smart contract deployment and network optimization. Its token, NEAR, is used for transactions, storage and voting within the NEAR ecosystem.
Some might argue that NEAR is the best AI cryptocurrency to invest in 2024, since it has the largest market cap of any AI token. At the time of writing, NEAR is priced at $6.21, giving it a total value of over $6.7 billion.
Over the past year, as shown in the chart above, the price of NEAR has risen by at least 419%, a significantly better performance than Bitcoin (BTC)'s 162.6% rise as recorded by CoinGecko.
Additionally, the coin has consistently recorded daily trading volumes of over $200 million, which is among the highest in the AI crypto space.
Furthermore, the NEAR protocol is set to Subtract Several major upgrades, including stateless validation and zero-knowledge web assembly (zkWASM), which will enhance scalability and security. The platform also added account aggregation and Ethereum (ETH) wallet support to attract more users.
NEAR has also entered into several partnerships, including one with Ceramic, which aims to improve cross-chain identity management and dynamic data storage, further expanding its ecosystem. In order to promote NEAR as the best AI cryptocurrency, Grayscale Investments recently introduced Grayscale Near Trust, which focuses solely on investing in NEAR.
Internet computer (ICP)
- Market value: $4,890,786,988
- Current price: $10.53
The Internet Computer (ICP) is a set of protocols that enables independent data centers around the world to collaborate and provide a decentralized alternative to traditional cloud providers.
It supports the development of tamper-evident decentralized web3 applications, including social media, enterprise infrastructure, gaming, and virtual reality.
This network uses smart contracts, known as pods, to host data, compute, user experiences, and content entirely on-chain. These packages of web assembly code and memory pages store and execute applications more efficiently and cost-effectively than traditional smart contracts.
Its native utility code, ICP, is an integral part of the Internet computer network. It facilitates management, compensates nodes for computation, and rewards participants for their participation in the ecosystem.
At the time of writing, ICP is trading at $10.52. The price is the culmination of 186.7% growth over 12 months, although it is still 98.5% below the ATH price of $700.65 achieved on May 10, 2021.
ICP is ranked No. 27 on CoinGecko, with a market cap of $4.89 billion, second only to NEAR among AI-powered cryptocurrencies. Its market valuation and the numerous projects built on it, ranging from defi, NFTs, gaming, social media and the metaverse, make compelling reasons to include ICP among the best AI cryptocurrencies to invest in 2024.
Render
- Market value: $3,243,369,567
- Current price: $8.39
Render (RNDR) is a distributed GPU network built on Ethereum. It is designed to be a premier platform for animation, visual effects and motion graphics demonstration. Its native code, RNDR, is used within the Render Network to simplify the rendering process.
The network includes two main stakeholders: creators and node operators. Content creators take advantage of the network's massive GPU power, enabling them to produce high-quality images quickly and at lower costs. Node operators rent their GPU processing power to creators and earn RNDR tokens as rewards.
In 2024, Render received significant attention for its integration with Apple, particularly through Octane X, a GPU rendering feature developed by OTOY. The collaboration was showcased during an Apple event, resulting in an 11% increase in the price of RNDR.
It made it to our list of the best AI tokens because the project solves a real problem: boosting the creator economy by making rendering less expensive and time-consuming.
In addition, token holders can receive rewards when they rent out their computing power. It makes the project more attractive, and increased network participation may increase demand for the tokens, which in turn may boost its value in the long term.
According to CoinGecko, while the current price of RNDR is 38% below its all-time high (ATH), it still represents 331% growth over the past year. However, its value has fallen by 17.4% in the past seven days, meaning it has underperformed the global cryptocurrency market, which is currently down 6.30%.
Regardless, Render's continued innovation and partnership with industry leaders like Endeavor, Stability AI, and OTOY to enhance AI training and inference capabilities while remaining cost-effective makes it one of the best AI cryptocurrencies of 2024.
Injection (INJ)
- Market value: $2,812,518,858
- Current price: $29.26
Injective (INJ) is a layer 2 multi-chain ecosystem designed to allow users to securely trade derivatives across decentralized networks.
We believe INJ is one of the best cryptocurrencies for AI for several reasons. First, the Injective Protocol simplifies the process of creating fast, secure, and easy-to-use decentralized exchanges, positioning itself as a cornerstone of the growing challenger scene. As Defi gains popularity, Injective could become a platform of choice, increasing demand for INJ tokens.
Secondly, its cross-chain functionality allows for seamless trading across different blockchains. As the cryptocurrency ecosystem becomes more interconnected, the ability to exchange tokens between networks will become critical, which could put INJ in a strong position for future growth.
Finally, INJ holders can stake their tokens to help secure the network, earning rewards in the process. This staking model enhances network participation, and as the number of INJs increases, the available supply diminishes, potentially increasing the value of the token.
According to CoinGecko, in the past 12 months, INJ’s price has risen by 404.5%. The same improvement was observed across different time frames, with the coin rising by 7.2% over the past 24 hours and 18.6% over the past seven days. Currently, INJ is trading at $29.26, making it the highest priced coin on the AI cryptocurrency list.
To further enhance its value, Injective has made several significant upgrades, including the recent Ionic upgrade, which aims to improve the interoperability of the platform. In addition, injections Fusion With Polygon you should work to improve user experience and liquidity. These developments, combined with INJ's use cases and positive price performance, make it a standout project in the AI cryptocurrency space.
Chart (GRT)
- Market value: $2,384,514,427
- Current price: $0.2519
Graph (GRT) is a global, decentralized, open source API that indexes and organizes data using the GraphQL language.
The GRT token is used to incentivize network participants, known as indexers, coordinators, and delegates, to contribute to its operations. GRT is an ERC-20 token, and has seen a 153.9% price increase over the past year, underscoring its value as a time-saving tool for developers. Additionally, at its current price of $0.2519, GRT is the least expensive of the best AI cryptocurrencies of 2024.
There are several reasons why The Graph is one of the best AI-powered crypto projects to invest in: First, The Graph turns unstructured blockchain data into searchable, usable information. As blockchain technology becomes more widespread and more projects and applications are built on it, the need for fast and efficient access to data should grow, which may lead to increased demand for GRT.
In addition, the graph is essential to the next generation of the Internet, web3, which is decentralized and user-centered. If web3 adoption grows as expected, GRT could see significant price growth as a critical tool for developers.
Finally, the ordering mechanism built into The Graph requires users to use GRT tokens to access the platform, meaning that as its popularity and utility rises, demand for GRT will increase as well.
The Graph has recently seen significant growth in usage, with query volume increasing 65% in Q4 2023 to nearly 1 billion queries.
This rise was driven in part by the expansion of the AI sector and the integration of The Graph with other blockchain projects such as Moonriver and Arweave, expanding its scope and improving functionality.
These developments should help strengthen the project's position as a critical infrastructure provider in the web3 space and help drive GRT's growth potential in 2024.
Final thoughts
With hundreds of currencies to choose from, determining the best AI-powered cryptocurrency can be daunting. However, the AI-powered crypto projects mentioned above may be worth a look, since they are among the top five in terms of market cap and daily trading volumes according to data from CoinGecko and CoinMarketCap.
Prices, which currently range from $0.2519 to $29.26, also mean that there should be an acceptable entry point for all types of cryptocurrency investors looking for the best AI cryptocurrencies to invest in 2024.
As always, we encourage you to do your own research to find out which AI-powered crypto is the best for your investment needs and financial capabilities. Furthermore, always seek professional advice, and make sure to only invest what you can afford to lose.
