Artificial intelligence altcoins have reached the trends of the cryptocurrency market after the world got in touch with artificial intelligence with ChatGPT. There are several crypto projects currently working directly on artificial intelligence. In this article, let’s take a look at 3 examples that traders frequently mention.
Here are the artificial intelligence altcoins you must watch
First choice Graph (GRT) is an Ethereum-based ‘big date’ project with a market cap of more than $800 million. Unlike AI projects, it aims to meet the data needs of this field. It also functions as an indexing protocol for requesting data from networks such as Ethereum and IPFS, which are already used in several DeFi applications.
While not to be confused with real AI projects, it is worth mentioning as it is the main project in this category. It is also well understood why it has such a high market value relative to other projects in this category as it is already in use.
It’s important to keep in mind that artificial intelligence often relies on big data, especially for what’s called machine learning or deep learning. Graph (GRT) is currently one of the largest projects meeting this need. It is worth noting that there is a new slot for developers.
Fetch.ai (FET)
Fetch.ai is the most important crypto project of real artificial intelligence. Not surprisingly, the native cryptocurrency FET ranks third in this category by market cap and first among those directly linked to AI projects. Fetch AI is a platform that enables collective learning of IoT (Internet of Things) devices and algorithms. It is a project launched in 2017 and is headquartered in Cambridge, England.
The idea behind Fetch is to provide smart contracts to implement machine learning solutions for decentralized problem solving using artificial intelligence. FET token is the native currency of this decentralized smart contract-based ecosystem. It currently has just over $200 million in capital, but has been talked about several times over the years for its performance in the crypto market.
The FET token entered the crypto market in 2019 with a price of $0.4, but this soon proved to be an exaggeration. Indeed, by December 2020, it had dropped almost tenfold before the last big bull run began. However, thanks to the 2021 speculative bubble, it jumped to $0.8 in March and then to $1.2 in September. At this point, it has appreciated +200% from the initial placement price, but +3,000% from the pre-balloon price. As Cryptokoin.com reported, it recently completed a rally of up to 20% after the statements of Bill Gates.
SingularityNET (AGIX)
The other major cryptocurrency related to AI altcoins is AGIX, the token on Ethereum from the SingularityNET project. Its market cap is similar to that of FET, but it has a very different history. SingularityNET is a Blockchain-based marketplace that allows anyone to monetize AI services. The problem is that five years after the token was released, it still only has 75 services.
In terms of price, the AGIX token debuted at $1.5 in 2018. Then, it stayed below $0.02 throughout 2020 and was still below $0.05 when the last major bull run started. In 2021, the price managed to rise above $0.5 twice, tenfold higher than December 2020, but fell below $0.04 again in 2022. So the low of 2022 was below the high of 2020, and the current price is 90% lower than the initial price in 2018.
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