Top 5 AI Cryptocurrencies to Put on Your Watch List in May
TL;DR
Despite a 10% weekly decline, Render (RNDR) remains a leading AI cryptocurrency with significant yearly gains, supported by advancements like its recent integration with Coinbase.
Other notable assets of that type include Bittensor (TAO), The Graph (GRT), and more.
Render (RNDR)
Despite suffering the negative consequences of the recent correction in the crypto sector, the realm of Artificial Intelligence (AI) cryptocurrencies remains solid, with a total market capitalization of almost $20 billion.
The leading asset of that type is Render (RNDR). Its price might be down 10% weekly, but the gains witnessed in the past year represent a whopping 260%. The asset is well in the green today (May 2), rising by 6% and briefly surpassing the $7.80 mark. Its market cap currently stands at approximately $3 billion (per CoinGecko’s data).
RNDR is the native cryptocurrency of the Render Network Foundation, a leading provider of decentralized GPU solutions whose goal is to revolutionize the digital creation process. Earlier in 2024, it caught the eye of Coinbase, which placed it on its roadmap zone and later allowed trading services with it.
Bittensor (TAO)
This is the second-biggest digital currency in the cohort, with a market capitalization of over $2.5 billion. Its price jump on a yearly scale is even more impressive than its rival’s, equaling 800%. As of the moment, TAO trades at approximately $385, a 6% daily increase but a 30% plunge on a monthly basis.
Bittensor is an open-source protocol that uses blockchain technology to create a decentralized machine-learning network. Its native token, TAO, enables users to access data within the ecosystem according to their requirements. The main objective of the protocol is to create a marketplace for Artificial Intelligence where consumers and producers can engage transparently with each other.
The Graph (GRT)
This token has also progressed impressively in the last year, experiencing an 80% rally. As of the moment, it trades at approximately $0.23 – a 5% price spike on a daily scale.
The Graph is a decentralized indexing protocol, facilitating data queries on the Ethereum network. Its native cryptocurrency, GRT, helps maintain the data’s integrity within the ecosystem.
Notable decentralized applications such as Uniswap, Aave, and Curve utilize The Graph for their operational needs.
Fetch.ai (FET)
This is the fourth-biggest cryptocurrency in the sector, with a market capitalization of $2 billion. Its price retraced by 11% in the past week amid the broader correction but remains over 500% up on a yearly basis. FET currently trades at around $2.
Fetch.ai is a blockchain-based platform that leverages artificial intelligence to automate daily activities such as booking flights, finding parking spaces, and accessing various services.
SingularityNET (AGIX)
The latest AI cryptocurrency on the top 5 list has a market cap of approximately $1 billion, while its price hovers around $0.80 (a 160% surge since May 2023).
SingularityNET was founded on the principle that Artificial Intelligence should not be “the exclusive domain of a few but a shared resource that benefits all of humanity.” AGIX is the platform’s native cryptocurrency, used to support ecosystem transactions, including rewards for network contributors and payments for AI services.
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Filed under: Bitcoin - @ May 2, 2024 2:20 pm