Know the top 10 cryptocurrency projects focused on artificial intelligence (AI) by market capitalization.
AI Cryptocurrencies
Although AI burst into our daily lives some time ago, the popularity of ChatGPT, the chatbot developed by OpenAI and where Microsoft has just invested significant sums of money, has put AI in the spotlight. In the cryptocurrency industry, AI can contribute significantly to the transparency and privacy of transactions, as well as to the optimization of applications and protocols and decentralization.
The Graph
The Graph is an indexing protocol created by Yaniv Tal, leader of the project, to query data on the Ethereum blockchain and the interplanetary file system (IPFS). Among the advantages listed by this protocol is the ability to create and publish open APIs to facilitate access to the data. The Graph's open APIs, called subgraphs, allow data to be transformed, organized, and shared between applications on Web3, ensuring that anyone can query data with just a few clicks.
According to data from cryptocurrency price monitoring platform Coin Paproka, The Graph's native token, GRT, rose more than 19% this week. GRT's price reached $0.091 and maintained a market capitalization of $813.1 million. The Graph is the leading artificial intelligence-focused cryptocurrency project by market value.
Fetch.ai
Fetch.ai is a blockchain network developed to provide DApps with automation and artificial intelligence capabilities that optimize their design and operation. The Fetch network launched in 2019 as an Initial Exchange Offering (IEO) on the Binance blockchain. On its website, Fetch.ai notes that it functions as a Layer-1 network for Ethereum. At the same time, for other blockchains, it serves as an inter-chain bridge where developers can create new platforms and services focused on artificial intelligence.
So far this year, the FET token, native to Fetch.ai, grew by nearly 300%, trading at the time of writing at $0.26 per unit. FET's market capitalization is $222.4 million.
Ocean Protocol
Ocean Protocol is a blockchain project that facilitates secure exchange and data monetization. On its website, it presents itself as a next-generation tool designed to unlock the value of data on a large scale. Ocean Protocol allows developers to build a wide range of protocols and applications, from blockchain marketplaces to decentralized services to Non-fungible Tokens (NFT).
With a market cap of $220 million, Ocean Protocol's native token, OCEAN, is positioned as the third largest AI token. OCEAN is worth $0.36 at the time of writing, showing a year-to-date growth of 225%.
SingularityNET
SingularityNET is a network of decentralized Artificial Intelligence services powered by the Ethereum blockchain. Developers designed the network to allow anyone to monetize AI and Web3 services, thus functioning as a decentralized AI marketplace platform. Through this platform, its creators want to facilitate access to AI services while providing developers with innovative tools to create new applications or implement custom algorithms that add to the blockchain ecosystem.
AGIX token, SingularityNET's utility token, is one of the highest-performing tokens in 2023. According to CoinMarketCap data, AGIX appreciated 400% in January, from trading above $0.045 to over $0.18 today. AGIX's market cap is $215 million.
iExec
iExec is a platform based on confidential computing where project developers can create new Web3 applications and operate with privacy-preserving computing assets. This project was launched in 2016 by computer scientists and computer science researchers Gilles Fedak and Haiwu He. Its main goal is to connect asset providers with asset users to make room for the construction and development of the next generation of the internet: Web3.
The RLC token from iExec currently trades at around $1.69 per unit. In the last week, the price of this token has seen a growth of almost 9%. By market capitalization, $136 million, RLC is the fifth largest AI token on the market.
Artificial Liquid Intelligence
One of the most explored decentralized artificial intelligence protocols today is Artificial Liquid Intelligence, an intelligent metaverse based on the iNFT protocol. This project uses Ethereum and is at the forefront of innovation, enabling the integration of animation, interaction, and generative artificial intelligence capabilities into NFTs. In its whitepaper, it equates iNFTs to humans for their ability to have a "body" represented by a PFP image and a "soul," thanks to their capacity for intelligence due to their ability to mature their levels of understanding with each interaction.
The ALI token has been one of the top performers in the cryptocurrency market so far this year, showing 330% growth, according to CoinMarketCap. At the time of writing, ALI is trading at $0.03. Its market capitalization is approximately $12 million.
Numerai
Built on the Ethereum blockchain, Numerai is a stock market prediction platform where developers can create models using Python scripts. This blockchain platform powers the NMR token, the seventh-largest artificial intelligence token in the crypto market. NMR trades at $16.8, a price that places it as the highest unit value AI token in the Top 10. However, its market capitalization stands at $99 million at the time of writing.
The NMR token rewards developers who forecast future market movements with their predictive models.
dKargo
dKargo is a blockchain protocol focused on solving trust issues in the logistics industry. This protocol operates on the Ethereum blockchain and uses artificial intelligence to provide an open and optimized logistics platform capable of improving the connection and relationship between participants. Thanks to blockchain technology, the token economy, and Web3, dKargo can create a logistics network based on collaboration that was considered impossible in the existing logistics industry.
Its utility token, DKA, is currently the eighth-largest AI token by market capitalization, with a total value of $93.4 million. DKA was trading at $0.039 at press time.
Phala Network
Phala Network is the first confidential smart contract built on Polkadot using the Substrate framework. It is a blockchain protocol designed to enhance privacy on Web3. Phala Network offers high performance, low latency, and data confidentiality. This protocol won one of the parachain auctions on the Polkadot network, implemented as a privacy-preserving cloud computing service within this blockchain.
The native token, PHA, trades at $0.15. Its weekly growth has been 22%, driven by its potential and development within the Polkadot ecosystem. Its market capitalization is $69.7 million,
Covalent
Covalent is a blockchain protocol that provides a unified API capable of providing visibility into billions of Web3 data points. This protocol envisions empowering Web3 users and pioneers through a robust blockchain data infrastructure. Possibilities include the creation of crypto wallets, NFT galleries, DeFi projects, GameFi, and custom DAps to suit every need.
With a weekly growth of 16%, the price of CQT, Covalent's native token, trades above $0.119 per unit. CQT's market capitalization is $55 million as the tenth token on this list.