Top 10 AI-Based Altcoins To Invest in 2024

The post Top 10 AI-Based Altcoins To Invest in 2024 appeared first on Coinpedia Fintech News

The cryptocurrency market has successfully regained momentum and has recorded a successful year of trading. The crypto space trades at a 16-month high, indicating a strong bullish influence.

Positively, the Artificial Intelligence (AI) industry has displayed a strong uptrend this year as many tokens from this category have recorded gains of over 100%, highlighting investor’s rising interest in it.

Further, the industry has started to gain major traction as it is all set to experience the fourth Bitcoin halving. With the upcoming halving, the crypto space is set to witness major price action as the inflow from institutional investors constantly increases.

What Are AI Tokens?

These tokens are an infusion of blockchain technology and artificial intelligence, which solves more complex structures and makes them more user-friendly. AI tokens are focused on improving user experience, scalability, security, and accessibility for its users.

Ai-based projects have gained massive attention from the market this year by introducing more sustainable, secure, trustable, and efficient ways of transaction and storage. Moreover, this category in the crypto industry is still in the budding stage, highlighting the potential for endless possibilities and evolution in the future. 

AI Tokens Performance 2023:

The AI industry is a rapidly evolving field that offers several benefits to its users. Further, the year 2023 has been successful for the AI category as it has gained major market attention.

AI tokens outperformed the crypto industry during the Q1 by multiplying their value. However, it faced a setback during the middle of the year as the top tokens displayed a brief sideways trend. The bulls regained power as the market gained momentum and displayed a notable run during Q4, making it a successful year for the whole category. 

Top AI Tokens To Buy in 2024:

Despite the Artificial Intelligence (AI) tokens witnessing significant price volatility this year, many investors have shown interest in them. Moreover, Injective and Render tokens have successfully claimed a spot in the top gainers list for this year, with each recording a return of over 10x Year-to-Date (YTD).

Further, this category is expected to gain serious traction in the upcoming rally as the world rapidly adapts to the use of AI. Here is a list of top AI tokens for the upcoming bull rally.

Internet Computer (ICP):

The ICP is a unique blockchain network that aims to bring speed, stability, and efficiency to computation and data storage. Its main aim is to resolve the issues associated with our traditional network system, misuse of personal information, and security.

The token appeared on the market on 10th May 2021 with a price tag of $700.65. Since then, the price has displayed significant price volatility in its chart. With a Maximum supply of 511.77 Million tokens and a market cap of $4.29 Billion, ICP price has successfully claimed the top spot in the category.

Despite the token trading at a discount of 98.15% from its ATH, the project has strong fundamentals and has recorded gains of over 140% YTD. Further, the token is expected to gain major traction during the upcoming bull run and is predicted to test its major resistance level of $37, making it a potential 4x.

Injective (INJ):

Injective specifically works on building strong applications for the Decentralized Financial System (DeFi). The INJ tokens are widely used for stakeholder, governance, and Dlationary mechanisms within the Injective (INJ) ecosystem.

Launched with a trading price of $0.40 in October 2020, the Injective price has gained major attention from the market this year, recording gains of over 3,100% Year-to-Date (YTD). The token had recently recorded a new ATH of $44.61, indicating a strong bullish sentiment for the token in the crypto market.

The Injective cryptocurrency has a total supply of just 100 Million with a market cap of over $3.4 Billion. Considering the present market sentiments, the price is expected to make a run to test its $100 mark in the coming year, making it a potential pick for a portfolio in the upcoming year.

The Graph (GRT):

The Graph blockchain is an indexing protocol supporting some of the most popular Ethereum applications. The GRT coin is used as an incentive for network participants. It works on the governance voting process and is widely used for staking, payments, and performing subgraph queries.

The Graph (GRT) has recorded massive price action in 2023, as the project added over 250% to its portfolio. It was launched in 2020 and instantly gained momentum. It recorded an ATH of $2.84 during the first half of 2021.

With a total supply of 10.792 Billion tokens, the GRT price is prepared to witness significant price volatility in the coming year. Moreover, the token is expected to test its key resistance level of $0.50, making it a high-return investment for the coming bull cycle.

Render(RNDR):

Render token is an ERC-20 token that is developed on the Ethereum blockchain. Its prime application is to give access to its users to rendering-based services. Further, the services are categorized within different levels based on the quality and speed of the GPU owners.

The Render token made its first public appearance on 27th April 2020. The RNDR price has a total supply of 536.87 Million tokens and a market cap of just over $1.7 Billion. The project has witnessed a 10x jump in its value, making it one of the top gainers of the crypto industry in 2023.

The token currently trades under a strong bullish influence and is on the verge of concluding the year positively. The RNDR price is expected to gain major traction during the coming year and is predicted to test its $10 mark, making it a strong 2x project for a portfolio.

Theta Network (THETA):

The THETA network works on the upgraded Proof-of-Stake (PoS) consensus mechanism known as Multi-level Byzantine Fault Tolerance (BFT) which utilizes a subset to Fastrack the approval. It is quicker and more efficient when compared to the traditional Proof-of-Work (PoW) network.

Oasis Network (ROSE):

Oasis Protocol is a Layer 1 blockchain and aims to deliver fast transaction speed and create private smart contracts. Its native token, ROSE, is used for staking, delegation, and transaction fees in the Oasis ecosystem.

The Oasis Network made its first appearance in the crypto industry in 2019. The ROSE has a maximum supply of 10 Billion tokens and a market cap of $921.52 Million. It gained constant momentum following its launch and recorded an ATH of $0.5964 in 2021.

The ROSE price regained momentum in 2023 by adding over 300% to its portfolio. Further, the price is expected to test its next major resistance level of $0.250 in the coming year, making it a potential pick.

Fetch.ai (FET):

This is a unique project which uses AI to enhance the solution process within the ecosystem. It is built on Ethereum and is the first Decentralized Financial (DeFi) system to help Uniswap users automate trading by referring to historical sentiments.

Fetch.ai was first released on the Binance Launchpad in 2019, where it raised $29 Million for its mainnet launch. Further, the project was publicly launched in 2020. The FET price gained instant attention from the market and recorded an ATH of $1.19 within a short period.

The project has gained significant market attention this year and has recorded a 6x return, making it one of the year’s top gainers in 2023. Further, the FET price is predicted to record a new ATH in the coming cycle with a target price of $1.50.

Akash Network (AKT):

It is a Layer 1 (L1) protocol built on the Cosmos mechanism and uses the Proof-of-Stake (PoS) consensus mechanism to secure its network, which is filled with decentralized validators. Its prime application is securing, incentivizing, and governing.

The Akash Network has a maximum supply of 388.53 Million tokens with a market cap of $530 Million. Launched in 2018, the AKT project plays a vital role in the DeFi ecosystem, making it a potential project for the coming time. 

Moreover, AKT price has successfully recorded a 12x return in 2023, indicating a strong bullish sentiment for this token in the crypto space. Further, the price is on a path to test its major resistance level of $6, making it a hot pick for the upcoming bull cycle.

SingularityNET (AGIX):

This project is ERC-20-based and built on the Ethereum blockchain, allowing it to transfer funds across various dApps built on this network. The SingularityNET’s native token, AGIX, is used as a payment mode on the network, allowing its users to pay for the ecosystem’s AI services.

Another successful token from the AI category is the AGIX project, which has made its investors richer by six times as it has jumped over 630% this year. Further, the project has a maximum supply of 2 Billion tokens and a market cap of $421.65 Million, making it a fundamentally strong project.

The token has successfully breached its year target of $0.300 and is predicted to test its next major resistance level of $0.600 during the coming year. Further, the token is expected to test its ATH of $1.86 in the coming year, highlighting a strong long-term investment for investors.

Ocean Protocol (OCEAN):

This network is unique as it connects data providers and consumers in a blockchain-based marketplace. Users can participate in its governance or staking by investing in this asset. The prime application of OCEAN is to exchange or deliver data tokens through a safe and secure place.

The Ocean Protocol has a maximum supply of 1.41 Billion tokens and a market cap of $310 Million. The OCEAN token experienced massive attention from investors during 2023, recording gains of over 235% in its portfolio.

Despite the token trading at a discount of over 70%, it plays an important role in the industry, making it a vital project in the ecosystem. Further, the token is predicted to test its upper level of $1.5 in the coming time, making it a potential 3x token for the bull run. 

Risk Management:

The AI tokens are still in a budding phase and are highly volatile as many external factors are responsible for their price action. Further, AI tokens are currently considered high-risk high rewards due to their volatile nature. Doing your research (DYOR) before investing in any tokens and understanding their risk is best suggested.

The market is filled with price manipulators and pump-and-dump schemes, which resulted in many investors getting liquidated and sustaining major losses. Make sure to keep a stop loss to minimize major losses from holdings. 

Conclusion:

The crypto industry is on the verge of experiencing a bull run, and the market is predicted to record a new ATH during this time. Further, the AI category has displayed a significant uptrend, indicating investors’ rising interest in it.

The Artificial Intelligence (AI) category is predicted to reach a new high in the coming time as the world is rapidly integrating AI into their daily lives. Moreover, this category will play a major role in the coming time due to its unique way of working and more enhanced features to offer.