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.
What are the top AI coins to buy right now?
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:
1. NEAR Protocol (NEAR)
NEAR Protocol (NEAR)
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.
Market rank#19
Market cap$7,398,926,737
Total supply1,183,246,171
Circulating supply1,066,836,477
2. Render (RNDR)
Render (RNDR)
Render is a decentralised peer-to-peer rendering platform that allows users to loan out their unused GPU compute power to those who need it, such as digital artists and developers.
Market rank#39
Market cap$3,030,678,771
Total supply532,065,944
Circulating supply386,972,335
3. Bittensor (TAO)
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Bittensor is a decentralised machine learning network that helps train AI models and rewards them based on their contribution to the network. It aims to create a trustless AI market that can be accessed by anyone.
Market rank#0
Market cap$0
Total supply0
Circulating supply0
4. Fetch.ai (FET)
Fetch.ai (FET)
Fetch.ai is an AI service platform that allows users to build and deploy AI programs which can then be monetised on its AI marketplace. DeltaV.
Market rank#55
Market cap$2,233,757,397
Total supply1,152,997,575
Circulating supply1,043,462,805
5. The Graph (GRT)
The Graph (GRT)
The Graph is a decentralised protocol that allows the indexing of blockchain data to be used by other applications and programs. It uses AI to help automate the decision-making process for those using the Graph network.
Market rank#50
Market cap$2,414,865,166
Total supply10,788,004,319
Circulating supply9,483,059,225
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.
What other AI coins are available?
- AIOZ Network (AIOZ)
- Ocean Protocol (OCEAN)
- Arkham (ARKM)
- Golem (GLM)
- SingularityNET (AGIX)
- Akash Network (AKT)
- PAAL AI (PAAL)
- OriginTrail (TRAC)
- Nosana (NOS)
The crypto market is up - the average price of the top 200 coins rose 2.71% over the last 24 hours.
Trading volume was also up and was 34% higher than the previous 7 days' average.
Volatility was below average at 0.64%, compared with the 30-day average of 0.67%. Higher volatility can make your profits or your losses larger if you decide to sell. (Data from Finder's crypto weather report, which updates at 4pm AEST every day.)
How to find the best crypto to buy right now
These are the things you should be keeping in mind when researching which cryptos to buy:
- News. Keeping up to date with the latest news is a cornerstone of any investing strategy and helps make sense of movements in the market. You can follow dedicated outlets like CoinDesk and Cointelegraph for daily cryptocurrency reporting, or sign up to crypto newsletters such as Bankless or The Defiant for a more curated experience.
- Research reports. Knowing what the market is going to do before it does it is every investor's goal. You can get ahead by reading industry reports like Messari's annual review and forecast, Kraken's monthly analysis of on-chain data and Finder's price prediction surveys.
- Sentiment analysis. Analysing how other investors are feeling about specific coins or events in the market can help you spot trends and decide whether to take action. Social media sentiment analysis can be an effective way of tracking what others are saying about a given topic. You can use the tools provided in this guide to do your own analysis or explore using a paid service.
- Technical analysis. Technical analysis refers to the tools and techniques used by traders to analyse price charts. You'll find most of the tools necessary for technical analysis on any major cryptocurrency exchange or you can use a popular service like TradingView. Technical analysis has a steep learning curve and takes years to master, so if you're considering adding it to your repertoire then you might want to consider taking a professional trading course.
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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.
