28 Jan 2023
Exploring the Potential of AI based Cryptocurrencies: The Next Big Thing in the Crypto Market
The Emergence of Artificial Intelligence (AI) in the Crypto Market: Understanding the Potential Impact and Opportunities of AI based Crypto Projects on Trading, Prediction, Portfolio Management, and More
Artificial intelligence (AI) is a rapidly advancing technology that has the potential to revolutionize various industries, including the cryptocurrency market. AI technology can be used in several ways within the crypto sector, including but not limited to trading, prediction, portfolio management, and more.
One of the most promising applications of AI in crypto is in the realm of trading. AI-based trading algorithms can analyze large amounts of data and predict market trends and movements. This can lead to more efficient and profitable trading decisions for investors.
Another area where AI can play a significant role in crypto is in predicting crypto prices. AI-based prediction algorithms can analyze historical data and identify patterns that can be used to predict future crypto prices.
AI can also be used to improve portfolio management in the crypto market. AI-based portfolio management algorithms can analyze a wide range of data, such as market trends, news, and social media sentiment, to make more informed investment decisions.
The use of AI in the crypto sector is still in its early stages, but the growth potential is significant. As technology advances, we expect to see more projects and platforms utilizing AI creatively and innovatively to enhance the crypto experience. Based on data from Coinmarketcap, there are around 120 AI cryptocurrencies in the market today; each project operates in a different sector within the AI market.
If you're on the hunt for the next big thing in the world of cryptocurrencies, look no further than AI-based crypto projects. According to market experts, these digital currencies are set to take the spotlight soon, with some analysts arguing that this sector has enormous untapped potential.
AI cryptocurrency is a digital currency with an AI platform at its core. This platform enables users to create and use AI-powered applications, such as advanced algorithms for investment decisions and automated trading. But the benefits of crypto AI continue beyond there.
One of the critical advantages of AI cryptocurrency is its security. Because it uses blockchain technology, it is less vulnerable to malicious attacks than other types of crypto. Additionally, AI crypto can be used on a decentralized marketplace and network, allowing direct buying and selling of tokens without intermediaries.
Another unique aspect of AI cryptocurrency is its system of rewards for users who contribute to the network. This incentivizes people to join and contribute to the network's growth, whether it be through providing valuable services or data.
The biggest draw of AI cryptocurrency is its utility. The ability to create and use AI-powered applications can significantly enhance the efficiency and effectiveness of managing crypto assets and making investment decisions.
As the demand for alternative forms of digital currency continues to grow, it's clear that AI cryptocurrency is a force to be reckoned with. Its unique combination of security, decentralization, and utility makes it an appealing option for investors looking for something different in the crypto space.
Investing in cryptocurrency can be daunting for many, with the market being highly volatile and new tokens emerging daily. However, here are four specific Artificial Intelligence Crypto Coins which might be suitable investments due to their innovative technology, strong development teams, and real-world use cases. And as we proceed, we will continue to update this article with more unique opportunities in the AI Crypto Coins market.
So, let's dive in.
Fetch.ai is one of the most promising emerging AI crypto coins of 2023. The blockchain-based platform utilizes artificial intelligence and machine learning to create ‘autonomous economic agents.’ These agents can act on behalf of individuals to generate profits through various means, such as crypto trading on decentralized exchanges or processing transactions and earning fees.
The flexibility of Fetch.ai makes it incredibly powerful. Autonomous economic agents can form the basis of future decentralized marketplaces or help connect devices in the Internet of Things. The Fetch.ai network includes a decentralized economy of agents, data, services, and digital assets that can collaborate to find, negotiate, and execute services, enabling efficient resource allocation in an untrustworthy environment without using centralized intermediaries or manual processes.
Fetch.ai has a blockchain that combines proof of work and proof of stake validation mechanisms. Miners on the blockchain earn FET tokens as a reward for validating transactions, and these tokens can be used to pay for the use of autonomous agents running on Fetch’s network. The AI-powered technology enables users to build complex economic models that can be used to optimize operations while lowering costs.
The native token of Fetch.ai is FET, which incentivizes network participants, facilitates transactions, and rewards miners for validating new blockchain blocks. At the time of writing, FET was valued at £0.19, down from its September 2021 peak of £0.87. The trading volume of FET is $108,837,024 in the last 24 hours, representing a 9.95% increase from one day ago and signaling a recent rise in market activity. The all-time high price of FET is $1.17, recorded on Sep. 08, 2021. The all-time low price of FET is $0.00816959, which was recorded on Mar. 13, 2020. The market capitalization of FET is $300,813,555 and is ranked #127 on CoinGecko today. The fully diluted valuation of FET is $332,390,669.
With a price increase of 0.92% in the last few days, Fetch.ai (FET) is outperforming the global cryptocurrency market by 0.36% while outperforming when compared to similar Ethereum Ecosystem cryptocurrencies, which are down -0.41%.
The community is bullish on Fetch.ai (FET) as more than 91% of users are feeling good about it today. The innovative approach of Fetch.ai to blockchain technology is paving the way for a more efficient digital economy powered by autonomous agents.
SingularityNet,a AI blockchain platform that allows anyone to build, share and monetize AI services, has a market capitalization of £160 million. Its internal marketplace, where users can browse and pay for AI services in the platform’s native cryptocurrency – AGIX, is currently worth £0.14. Back in January 2018, AGIX peaked at £1.34.
The platform aims to connect researchers creating AI apps and monetizing them with businesses that want to deploy AI algorithms to save money and improve their operations. The marketplace supports AI algorithms in three categories: cloud robotics, biomedical research, and cybersecurity.
Unlike other AI projects, SingularityNET is a versatile project that has built a marketplace where anyone can build, share, and monetize AI services, allowing developers to make money from the AI solutions they create without having to develop a full front-end product.
Transactions in this marketplace are handled using the platform’s native cryptocurrency, AGIX, which is also used to pay for transactions on the network and as a governance token to determine the future of SingularityNET.
SingularityNET's daily trading volume has been $60,511,759 in the last 24 hours, representing a 106.21% increase from one day ago and signaling a recent rise in market activity. The highest price for AGIX was $0.950230, which was recorded on Jan. 28, 2018 (about five years), and it's currently -80.1% lower than the all-time high price. Conversely, the lowest price paid for AGIX was $0.00747159, which was recorded on Mar. 13, 2020 (almost three years), and it's currently 2433.8% higher than the all-time low price.
The market capitalization of SingularityNET is $226,800,177 and is ranked #160 on CoinGecko today. Market cap is measured by multiplying the token price with the circulating supply of AGIX tokens (1.2 Billion tokens are tradable on the market today). As a result, the fully diluted valuation (FDV) of SingularityNET is $378,277,113. This is a statistical representation of the maximum market cap, assuming the maximum number of tokens are in circulation.
SingularityNET is a decentralized marketplace for AI services; it has a vast array of AI algorithms and data sources, making it easier for developers to create powerful applications that fully utilize the potential of machine learning. The platform also provides developers with tools to quickly deploy their custom algorithms onto the platform. As a result, SingularityNET is changing how we think about artificial intelligence and its potential applications in our lives.
Numeraire (NMR) is a unique crypto-based AI hedge fund that powers Numerai, a San Francisco-based hedge fund. Unlike traditional hedge funds, Numerai relies on NMR token holders to predict the stock market. In this article, we will explore the basics of Numeraire (NMR) and how it works in the Numerai platform.
Numeraire (NMR) is a blockchain-based token that powers the Numerai software platform, which works like a hedge fund portfolio management and trading platform. The NMR token, built on the Ethereum blockchain, rewards traders who correctly forecast market movements.
Numeraire holders can make predictions about one or more stocks each week. They can use whatever metrics they want to make a prediction, then submit a ticker symbol and target price to Numerai. Numerai uses AI to crunch all the predictions from users and make real-world bets on the best ones. Users who submit predictions must stake NMR on their prediction. If they’re right, they earn newly minted NMR tokens. If they’re wrong, their staked NMR is burned.
A hedge fund is a pooled investment fund that employs different strategies to earn high returns for investors. Richards Craib, an ex-asset manager in South Africa, started the hedge fund company Numerai after he realized there were inefficiencies in a hedge fund's operations. For example, the financial models created were not advanced due to the secretive nature of financial data. Numerai was made because of this, where Numerai could distribute protective data without revealing the underlying data and involve thousands of data scientists worldwide to develop unique and more sophisticated models.
Numerai holds a weekly tournament where scientists are given modified data sets to disguise their relevance to any financial initiatives. Data scientists will then submit their predictive models to Numerai and simultaneously stake NMR tokens with their submissions. The amount staked illustrates the confidence of the data scientists in their models, and the minimum amount to stake is 0.01 NMR. Finally, models are tested in real-world markets for a few weeks, and the best data scientists will be rewarded with Numeraire (NMR). The payouts are determined based on the amount staked and the models' performance.
Numerai combines all the submissions using their “Meta Model Contribution” and evaluates how valuable each submitted predictive model is to run the hedge fund. The Meta Model combines different models to generate the best returns. Therefore, the best data scientists will be paid according to their originality, uniqueness, and real value added to the hedge fund. At the same time, repetitive or weak models are penalized through the NMR burns set within the protocol.
The price of Numeraire (NMR) is $16.55 today, with a 24-hour trading volume of $4,169,285. This represents a -1.6859021911606744% price decline in the last 24 hours and a -0.8107095262014495% price decline in the past days. With a circulating supply of 6.1 Million NMR, Numeraire is valued at a market cap of $101,731,404.
Numerai is an innovative way for traders to make money while assisting financial institutions in accessing advanced trading strategies without investing heavily in infrastructure or personnel. The NMR token is a unique way to reward users for making accurate predictions. The Numerai platform encourages participation while allowing hedge funds and other financial institutions to access sophisticated trading strategies.
Artificial Liquid Intelligence (ALI) is a decentralized protocol that powers a growing metaverse of Intelligent and Interactive NFTs (iNFTs) named Noah's Ark. The aim of Noah's Ark is to one day be used to preserve, and even evolve, the collective intelligence of humanity. The iNFT standard, open to developers, leverages advanced technologies, including AI-powered animation, interactivity, and generation. The native token for this project is ALI (ERC-20 token) which is accessible via Uniswap.
ALI has been gaining traction in the market recently. The token is used for various work transactions, including leveling up and training iNFTs. In this article, we will take a closer look at the current state of the ALI market, including its trading volume, all-time high and low prices, market capitalization, fully diluted valuation, price performance against peers, and market sentiment. We'll also take a deep dive into the technology behind the project and its ambitious goal of preserving the collective intelligence of humanity.
The trading volume of Artificial Liquid Intelligence (ALI) has been $1,586,632 in the last 24 hours, representing a 9.24% increase from one day ago. This signals a recent rise in market activity.
The highest price for Artificial Liquid Intelligence (ALI) is $0.201312, recorded on Apr 02, 2022. Comparatively, the current price is -79.6% lower than the all-time high price. On the other hand, the lowest price paid for Artificial Liquid Intelligence (ALI) is $0.00565078, which was recorded on Nov 13, 2022. Comparatively, the current price is 627.8% higher than the all-time low price.
The market capitalization of Artificial Liquid Intelligence (ALI) is $148,891,613 and is ranked #211 on CoinGecko today. Market cap is measured by multiplying the token price with the circulating supply of ALI tokens (3.6 Billion tokens are tradable on the market today). As a result, the fully diluted valuation (FDV) of Artificial Liquid Intelligence (ALI) is $414,952,124. This is a statistical representation of the maximum market cap, assuming the maximum number of 10 Billion ALI tokens are in circulation today.
With a price increase of 21.06% in the last few days, Artificial Liquid Intelligence (ALI) is outperforming the global cryptocurrency market, which is up 0.04%. Additionally, it outperforms similar Ethereum Ecosystem cryptocurrencies, which are down -0.63%.
The community is bullish, as more than 89% of users feel good about Artificial Liquid Intelligence (ALI) today.
As a long-term investment, ALI offers a compelling opportunity for investors. The platform uses advanced artificial intelligence and machine learning techniques to provide real-time market analysis and predictions for various virtual currencies. With a focus on smart technical analysis, ALI can offer investors up-to-date insights and information on the ever-evolving crypto market.
Currently trading at USD 0.0416 per token, ALI has the potential to deliver significant returns over the next five years. Financial analysis indicates that the token is projected to reach USD 1.056 by January 22, 2028, representing a projected increase of 442.14%. As a result, ALI represents a compelling investment opportunity for investors looking to capitalize on the cryptocurrency market's growth potential.
In conclusion, the potential of AI-based cryptocurrencies is genuinely staggering. As technology advances, we will likely see more projects and platforms utilizing AI creatively and innovatively to enhance the cryptocurrency experience. The possibilities are endless, from trading and prediction to portfolio management. And as the market for alternative forms of digital currency continues to grow, it's clear that AI based crypto projects are a force to be reckoned with.
One of the most promising emerging cryptocurrencies in this space is Fetch.ai, which utilizes artificial intelligence and machine learning to create “autonomous economic agents” that can act on behalf of individuals to generate profits through various means. The flexibility of Fetch.ai makes it incredibly powerful, as these agents can form the basis of future decentralized marketplaces or help connect devices in the Internet of Things.
Another unique aspect of AI-based cryptocurrencies is their system of rewards for users who contribute to the network. This incentivizes people to join and contribute to the network's growth, whether it be through providing valuable services or data. Additionally, the use of blockchain technology in AI-based crypto projects makes them less vulnerable to malicious attacks than other types of crypto.
The biggest draw of AI-based cryptocurrencies is their utility. The ability to create and use AI-powered applications can significantly enhance the efficiency and effectiveness of managing crypto assets and making investment decisions. This makes AI-based crypto projects an appealing option for investors looking for something different in the crypto space.
All in all, the future looks bright for AI-based cryptocurrencies. As we move forward, it will be exciting to see how these projects continue to evolve and what new opportunities they bring to the table. And with solid development teams and real-world use cases, Fetch.ai is a substantial investment in this space. It is the next big thing in the world of cryptocurrencies, and it is time to take notice.
Subscribe to the AI newsletter
Leave your email below and get more info like this:
Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.