Top 15 artificial intelligence cryptocurrencies to watch in 2024

Artificial Intelligence (AI) has been attracting attention for years, but the sector truly blew up with the launch of ChatGPT. The new chatbot by OpenAI ended up being more advanced than any AI product so far. It attracted the attention of investors, tech enthusiasts, and even Wall Street.

The surging interest in AI also put the spotlight on artificial intelligence cryptocurrencies. Many projects in the crypto industry that use AI or Machine Learning (ML) have experienced tremendous growth as a consequence. With AI becoming more relevant in everyday life and crypto being “the future”, AI crypto has become increasingly popular. This guide will provide a brief explanation of what AI crypto coins are and how they work. We also list some of the best machine learning and AI-based projects in the crypto market.

TL;DR

• Using AI in crypto tokens improves security, scalability, user experience, and efficiency within the crypto market.

• These tokens allow users to benefit from AI technology and services within various crypto ecosystems.

• Using AI has become essential in the cryptocurrency space, as it's enhanced and improved various aspects of blockchain technology.

• In the future, the partnership between AI and blockchain is anticipated to strengthen, leading to a rise in popularity of AI cryptocurrency tokens.

• Caution is advised when trading AI tokens due to inherent risks in the crypto market.

What is AI crypto?

The concept of AI cryptocurrency has been around for some time. To put it simply, AI crypto tokens are tokens that use artificial intelligence in some way. AI can improve security, scalability, user experience, and more. It can even be trained to automate and build efficiency or trust in numerous crypto ecosystems. AI crypto coins and tokens can also power AI-based projects and apps, including DEXs. It can power text and image-generating services, investment protocols, and more.

AI crypto tokens can grant users access to AI technology and services powered by it. AI will likely continue to combine with smart contract-based products, such as metaverses. As of October 2023, the crypto industry's AI sector had a market cap of $6.3 billion.

If you're optimistic about the sector and want to explore the best AI crypto tokens, read on for a list of the most popular crypto projects that use AI and machine learning.

1. Fetch.ai (FET)

Market Cap (February 2024): $917 million

The first on the list of AI-based projects is Fetch.ai. This open-source, decentralized platform aims to build a new digital economy. Fetch.ai allows the creation of autonomous agents that will serve as AI-powered tools. The project can handle multiple complex tasks, including advanced analytics, decision-making, and predictive modeling. The bots and tools within its network communicate with one another. Its native token, FET, is a medium of exchange within the ecosystem.

2. Ocean Protocol (OCEAN)

Market Cap (February 2024): $416 million

Next, there's Ocean Protocol, which is a project based on Ethereum’s blockchain network. Its purpose is to allow individuals and businesses to engage in data exchange and monetization. Apart from that, it can offer other data-based services. For example, it makes data available to researchers, startups, and others in need of such information. Of course, all provided data is used with the data holders’ consent as they still hold ownership of it. The project’s native token is called OCEAN, which is an ERC-20 token that powers the network.

3. Render Token (RNDR)

Market Cap (February 2024): $2.7 billion

Render is an innovative GPU network that also runs on Ethereum’s network. RNDR is an AI cryptocurrency used by artists on the network who use it to pay for GPU power. Meanwhile, the power is provided by other network users, who receive their rewards in RNDR. The project uses the inherent security properties of Ethereum, which makes it safe and immutable. All coins used to pay for rendering services are stored in escrow during rendering. Once the manual verification of the rendering process is complete, the tokens are released to node operators.

4. SingularityNET (AGIX)

Market Cap (February 2024): $915 million

In the fourth spot, we have SingularityNET, which is among the most notable AI tokens in the crypto space today. Its platform allows users to buy and sell products that use AI technology. This can include data models and various AI-powered tools. The platform also allows anyone to build, share, and monetize AI services. As a result, it has an international marketplace and the AGIX token is used for all payments in the ecosystem.

5. The Graph (GRT)

Market Cap (February 2024): $2.6 billion

Next, we have The Graph, which is the largest AI crypto on this list in terms of market cap. The Graph is an indexing and data querying protocol. It’s a highly valued project that's taken on quite the challenge when engaging in blockchain data indexing. However, its goal is to change the difficulty of it by organizing data into subgraphs. These are smaller units that are much simpler to work with. The Graph has created over 3,000 subgraphs as of April 2023. They were deployed by thousands of developers and are used by numerous DApps and DEXs.

6. Oasis Network (ROSE)

Market Cap (February 2024): $950 million

In the sixth spot we have Oasis Network (ROSE), a Layer 1 blockchain dedicated to privacy and scalability. It separates smart contract execution from the consensus mechanism. This allows developers to create DApps that focus on privacy and data security. More importantly, it's one of the digital currencies that offer very high throughput for very low fees. All of this makes this blockchain network perfect for powering Web3 apps.

7. iExec RLC (RLC)

Market Cap (February 2024): $286 million

Next we have iExec RLC. This is an AI blockchain platform that allows users to monetize their computing power. It uses blockchain to organize a market network, where users can offer computing power to those who need it. Users can even monetize datasets and applications. It does this by offering on-demand access to cloud computing resources. It can support applications in many different fields, from AI, healthcare, rendering, and fintech. Its computing resource providers are called iExec Workers. In order to become a provider, users must connect their machines to contribute resources. In return, they're rewarded with RLC tokens.

8. Artificial Liquid Intelligence (ALI)

Market Cap (February 2024): $146 million

Up next, we have ALI, which is short for Artificial Liquid Intelligence. This is a project used by Alethea's image generator. Essentially, users can provide data to Alethea, which then uses AI to generate images. The project is known for its AI protocol called CharacterGPT. The protocol uses text descriptions to create interactive AI-based characters. ALI tokens allow users to generate character NFTs, provide incentives, enable transactions and upgrades, and more. The project is based on Ethereum, so its token is an ERC-20 utility token.

9. Hera Finance (HERA)

Market Cap (February 2024): $19 million

In the ninth spot, we have Hera Finance, or just Hera. This is a project tied to the Pathfinder algorithm, which helps DeFi users. This allows users to target decentralized exchanges' most rewarding and efficient trading paths. The project uses machine learning to analyze prices, volumes, liquidity, and other crypto-related data. Meanwhile, its native cryptocurrency, HERA token, also offers users to participate in the project’s governance. The token is also used for sharing protocol revenue with HERA holders.

10. Cortex (CTXC)

Market Cap (February 2024): $134 million

Cortex is the smallest project on the list in terms of market cap. However, it's a blockchain platform that lets users upload and execute AI models. It was developed to incorporate AI with DApps and smart contracts. The project is an open-source and peer-to-peer decentralized platform that seeks democratization through Artificial Intelligence. This allows users to create AI-enabled applications using blockchain technology. The project claims there was no known way to execute on-chain machine learning models before its launch. DApps that used machine learning models had to rely on off-chain inference. This defeats the purpose of smart contracts in the first place.

11. dKargo (DKA)

Market Cap (February 2024): $127 million

Then, we have dKargo — a project that uses blockchain technology to solve trust issues among participants in the logistics industry. These are entities scattered throughout the logistics sector. Through dKargo, they can establish an efficient logistics network based on cooperation. dKargo can provide credible information, solve trust issues, and enhance connections between participants. The project also creates a collaboration-based logistics network with Web3 logistics services. While dKargo is a relatively small project, it can truly revolutionize the logistics sector of the future.

12. Phala Network (PHA)

Market Cap (February 2024): $98 million

Towards the end of the list, we have Phala Network. This is an AI-augmented blockchain based platform that aims to improve cloud computing with a strong focus on privacy. It’s positioned as a decentralized alternative to modern, centralized cloud computing services. Google Cloud or Amazon AWS are prime examples of this. Phala Network allows users to have true privacy and keep ownership of their data. Users can even deploy confidential smart contracts inside the CPU's TEE Enclaves.

13. Covalent (CQT)

Market Cap (February 2024): $208 million

Next up is the data aggregator Covalent. Covalent gets its data from numerous blockchains, including Avalanche, Ethereum, and Polygon. Developers can then leverage this data to create DApps that would solve existing problems in various sectors. However, its primary goal is to target issues found in retail and finance.

Covalent’s main advantage is that it aggregates information from different chains, instead of sourcing it from a small handful of them. Its PAI then sources end-users with individualized data, including historical and current investment performance. Additionally, it returns data in a rapid and consistent manner while incorporating relevant data in one API interface.

14. Injective (INJ)

Market cap (February 2024): $3.59 billion

Injective refers to itself as the "blockchain built for finance". It enables users to build finance-focused Web3 DApps on the Layer 1 blockchain, which is open and interoperable. One distinguishing characteristic of the Injective Protocol is its use of plug-and-play modules, which provide developers with unprecedented versatility in the functionality they can choose from. This feature significantly speeds up the build process, and has led many developers to choose the protocol as their go-to for creating innovative decentralized exchanges. INJ is the native token of Injective. The token is used for governance of the community and to validate transactions via staking. Meanwhile, developers who build DApps on Injective are rewarded with INJ.

15. Numeraire (NMR)

Market cap (February 2024): $197 million

Numerai was a pioneering force when it arrived in October 2015 as the first AI-powered hedge fund. The Ethereum-based platform uses AI-driven predictions from developers and data scientists to inform its trading models. Thousands of individual models are combined into one "meta model" to help predict the movements of the stock market. This includes data gathered from Numerai Signals, a tournament for data scientists that have gathered their own data. The project's native token, Numeraire (NMR), was introduced in 2017 and serves as a staking currency in the ecosystem. Users stake NMR for accurate predictions and receive the token back as a reward.

Is AI crypto the future?

Artificial Intelligence has found great use cases across industries, including the cryptocurrency market. Digital currencies have been excellent in combining blockchain technology with other emerging technologies. With AI, many features of crypto and blockchain can be improved, further boosting the use cases of both. With that being the case, there's no reason to assume that AI and blockchain will ever separate. In fact, it's more likely they'll grow closer together in time.

This could mean that AI crypto tokens will become the next big thing. However, if you intend to trade any of them, you should research them carefully before making a move. With crypto, there's always risk, regardless of their use cases or what tech they use. Keep that in mind and always proceed with caution before committing your funds.

The final word

The rise of interest in AI has impacted cryptocurrencies, with AI-based projects seeing significant growth. AI tokens can help improve the crypto market's security, scalability, and user experience while also offering access to AI technology and services in different ecosystems.

Many industry commentators expect the integration of AI and blockchain to deepen, which could boost demand for AI-based crypto tokens. It's important to exercise caution when trading these tokens, as the crypto market carries inherent risks.

FAQs

Which AI crypto is best?

No single AI crypto can be described as “best”, they all have their own unique approaches to solving specific problems. Multiple approaches could be equally effective even if they seek to achieve the same goal.

Is there any AI crypto?

There are many AI crypto projects out there right now. On the list above, you can find 13 of them using Artificial Intelligence for various purposes.

What is AI crypto trading?

AI crypto trading is a way to trade cryptocurrencies using bots powered by Artificial Intelligence. These bots typically react much faster than humans and are more efficient at trading and making gains.

What are AI tokens?

AI tokens are cryptocurrencies that use AI in some way. They might use it for enhancing security, user experience, scalability, or other factors.

What are the top AI tokens?

Some of the top AI tokens include The Graph, SingularityNET, Fetch.ai, Ocean Protocol, iExec RLC, and others. Many more are likely to launch in the future, as AI continues to attract the attention of crypto developers.