Artificial intelligence (AI) has dominated the headlines in recent times and has piqued the interest of many in Silicon Valley and the wider investing markets.
This guide will talk you through some of the biggest cryptocurrency projects that are utilising or building AI technology.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
This will depend on things like your risk appetite, investing horizon and expectations.
While there are a range of established and developing crypto AI projects, it's still an extremely nascent technology and there's no guarantees that any of these projects will achieve breakthrough success or achieve their goals.
Below are some of the top AI coins by total market capitalisation and trading volume:
A Layer-1 blockchain built to turn intellectual property into programmable, tradable assets including registering, licensing and monetising works like art, music or data all on-chain.
NEAR Protocol is a layer-1 blockchain that aims to offer fast transactions, low fees and better interoperability through community-run cloud computing. It initially launched as an AI research project before evolving into its own blockchain but still retains an interest in AI and Web3 functionality.
Methodology: This list is based on the top 5 AI-related cryptocurrencies by market capitalisation at the time of last update.
However, this list should only be used as a reference and is not an endorsement of any particular crypto coin or project.
Cryptocurrencies remain highly volatile and you should always do your own research before investing.
The crypto market is down - the average price of the top 200 coins dropped 1.49% over the last 24 hours.
Trading volume was, however, up and was 12% higher than the previous 7 days' average.
Volatility was above average at 0.95%, compared with the 30-day average of 0.88%. Higher volatility can make your profits or your losses larger if you decide to sell. (Data from Finder's cryptocurrency tracking.)
These are the things you should be keeping in mind when researching which cryptos to buy:
AI cryptocurrencies might show a lot of potential for growth but they're also highly speculative for several reasons:
For these reasons, always ensure your investments align with your risk tolerance ensure you hold a diversified portfolio.
"AI is a buzzword which means that businesses are jumping on the bandwagon to claim a piece of the pie. Unfortunately, as an investor it can be hard to distinguish the true AI business models from all the marketing jargon. Before investing in an AI crypto project, make sure to do your research by reading the white paper and checking out the tokenomics. Never go all in on one project, unless you can afford to lose it all too."
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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