Top Reasons Why AI Cryptocurrencies Will Dominate The Market Next

Technology

4 AI-Based Altcoins Outpacing Bitcoin, Ethereum, XRP In 2024 – Crypto News

Published

1 year ago

May 8, 2024

Dripp

The cryptocurrency landscape is experiencing a wave of enthusiasm as AI-based altcoins like Render (RNDR), SingularityNET, Bittensor (TAO), and Fetch.ai (FET) display significant growth potential. These altcoins, known for their advanced AI technologies, are surpassing traditional giants like Bitcoin, Ethereum, and XRP in 2024. Their unique features and increasing acceptance contribute to their success.

1. Render (RNDR)

Render (RNDR) is in charge of transforming how digital content is created by utilizing a distributed, GPU-based rendering network. This platform uses OctaneRender to connect individuals requiring rendering services with GPU owners possessing excess capacity.

Render price chart

This model taps into unused computing resources and creates a new revenue stream for GPU owners. Presently, Render holds the 24th spot on CoinMarketCap, boasting a market cap of approximately $4.15 billion. This substantial valuation underscores the significant impact and adoption of decentralized technologies in the creative industry.

Recently, the RNDR price enjoyed a surge, gaining 10% to $10.79 today. This increase is reflective of a broader interest in AI-focused cryptocurrencies, which are currently outperforming major players like Bitcoin, Ethereum, and XRP in the market.

2. SingularityNET (AGIX)

SingularityNET, a decentralized AI service platform, champions an open-source model to democratize the benefits of artificial intelligence. Through a network of smart contracts, it supports a global AI marketplace designed for widespread access and collective contributions.

The platform’s cryptocurrency, SingularityNET (AGIX), recently observed a 5% increase, which analysts attribute to increased on-chain activity.

Over the last year, the AGIX price has risen sharply by 263% in value, driven by escalating interest in AI-focused digital currencies. Presently, the AGIX price stands at $1.01, maintaining a bullish pattern on investment charts. This growth coincides with a broader excitement in the AI industry, notably boosted by impressive earnings from AI chip giant Nvidia.

3. Bittensor (TAO)

Bittensor (TAO) is pioneering a transformative approach by integrating blockchain technology with artificial intelligence, reshaping the future of machine learning. This initiative aims to democratize AI development and promote a collaborative and accessible environment.

Recently, the Bittensor price has surged by 17% over the past week, reflecting a surge in investor trust. Currently priced at $437, its market cap has reached $2.93 billion, underscoring its expanding role in the industry.

4. Fetch.ai (FET)

Fetch.ai (FET) is revolutionizing the blockchain scene with its innovative machine-learning network. This platform focuses on decentralizing and optimizing online transactions, enhancing user experiences.

The growth of Fetch.ai has captured the attention of investors, particularly those interested in AI-based projects. As a result, Fetch.ai is making artificial intelligence technologies more widely available.

Fetch.ai price chart

Currently, Fetch.ai is priced at $2.43, witnessing a 2.49% increase, suggesting a bullish market trend. Over the past week, FET’s value has climbed by over 24%, elevating its market capitalization to $2.9 billion and placing it 51st in global rankings. Over the last year, FET has seen a remarkable 540% increase, outperforming major cryptocurrencies like Bitcoin, Ethereum, and XRP in 2024.

Bottom Line

Render, SingularityNET, Bittensor, and Fetch.ai are setting the pace in the cryptocurrency market. With their AI-driven platforms, they provide a fresh investment avenue, diverging from traditional giants like Bitcoin, Ethereum, and XRP.