Investment Watch: AI Cryptos – A Chance To Buy The Dip?

2024 has been a significant year for AI in the cryptocurrency sector, with notable advancements and increased market demand. So how have the top AI cryptocurrencies fared since Bitcoin’s 2024 all time high on March 14th.

Despite representing only a small fraction (0.4%) of the $1.95 trillion cryptocurrency market, AI cryptocurrencies made a remarkable impact in 2023. While Bitcoin’s 150% price increase in 2023 was impressive, it was overshadowed by the average 336% growth of the top 10 AI cryptocurrencies. The gains made by some AI tokens, such as RNDR and AKT, were over 1000 percent for the year.

Since Bitcoin’s all-time high of $73, 079 on March 14th, the leading cryptocurrency’s price is down 17% to $60,852. So how have the top crypto AI tokens performed since Bitcoin’s March high?

2024’s Top AI Cryptocurrencies

1. The Render Network (RNDR): Founded by Jules Urbach in 2016, The Render Network provides decentralized GPU-based rendering solutions. It connects users needing render jobs with those having spare GPU capacity. Transactions are facilitated using RNDR, an ERC-20 token on the Ethereum blockchain.

RNDR Market Cap: $4.15B
RNDR Price: $10.69
Price Change Since BTC ATH: -5.81%
12 Month Growth: +522%

2. Bittensor (TAO)
Bittensor leverages the power of peer-to-peer networks and machine learning to revolutionize the field of AI by creating a decentralized neural network. It allows users to share and access data, models, and insights from a global pool of collective intelligence, using its native token TAO to reward participants, access AI services, stake on the network, and transfer value.

TAO Market Cap: $2.56B
Price: $380.02
Price Change Since BTC ATH: -40.53%
12 Month Growth: +885%

3. AKASH Network (AKT): As a decentralized cloud computing marketplace, Akash Network aims to utilize unused global computing resources, offering on-demand computing power.

Akash Market Cap: $1.38B
AKASH Price: $5.81
Price Change Since BTC ATH: -1.52%
12 Month Growth: +2346%

4. Fetch.ai (FET): Fetch.ai is a decentralized AI network that enables autonomous economic agents to exchange data and services autonomously. It combines AI and blockchain to create a decentralized ecosystem for digital agents.

FET Market Cap: $184M
FET Price: $2.23
Price Change Since BTC ATH: -16%
12 Month Growth: +790%

5. SingularityNET (AGIX): This open-source decentralized platform enables the creation, sharing, and monetization of AI services, democratizing AI access. It serves as a marketplace for AI algorithms, fostering collaboration within the AI community.

AGIX Market Cap: $1.19B
AGIX Price: $0.93
Price Change Since BTC ATH: -23%
12 Month Growth: +282%

6. Ocean Protocol (OCEAN): A blockchain-based data sharing platform, Ocean Protocol facilitates secure and private data sharing, including AI models and algorithms, while maintaining data control.

OCEAN Market Cap: $532M
OCEAN Price: $0.93
Price Change Since BTC ATH: -22%
12 Month Growth: +190%

7. OriginTrail (TRAC): Focused on transparent and decentralized supply chain management, OriginTrail leverages blockchain technology and a decentralized graph database model for interoperability and data sharing.

TRAC Market Cap: $346M
TRAC Price: $0.85
Price Change Since BTC ATH: -32%
12 Month Growth: +204%

8. Numeraire (NMR): Numeraire is an AI-powered decentralized hedge fund that combines AI and blockchain. Data scientists build models and compete for cryptocurrency rewards.

NMR Market Cap: $164M
NMR Price: $26.15
Price Change Since BTC ATH: -32%
12 Month Growth: +90%

9. Cortex (CTXC): Cortex is an AI-powered blockchain platform that enables the creation of AI-powered smart contracts, fostering the development of intelligent decentralized applications.

CTXC Market Cap: $75M
CTXC Price: $0.34
Price Change Since BTC ATH: -34%
12 Month Growth: +110%

10. DeepBrain Chain (DBC): This decentralized AI computing platform uses blockchain to enable cost-effective AI training, incentivizing the sharing of idle computing resources.

DBC Market Cap: $19M
DBC Price: $0.003
Price Change Since BTC ATH: -40%
12 Month Growth: +56%

11. GNY (GNY): GNY is an AI-powered decentralized machine learning protocol offering predictive analytics tools for businesses, integrating AI and blockchain for data insights.