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- 1 AI grew its roots in the crypto world and contributed to constructing a few of the best AI-based altcoins.
- 2 The creative gems showcase effective crypto investment, representing the role of Artificial Intelligence in shaping the crypto universe.
The crypto market has retrieved momentum and showcased a thriving year of trading in 2023. The industry is foreseen to hit new heights, but this time, Artificial Intelligence is proceeding to play a vital role. AI-categorized tokens recorded hikes of around 100%, vitrine the power of advanced technology as well investors’ interest in AI-based altcoins.
AI-based tokens or altcoins are a fusion of Artificial Intelligence and blockchain technology, and they mainly emphasize boosting scalability, user experience, accessibility, and security. The majority of such tokens are in the budding phase and are expected to stand as the future of the crypto industry. Here are the top 5 AI-based altcoins to invest in 2024:
Internet Computer (ICP)
ICP token was developed by the DFINITY foundation in mid-2022 and showcases a rethink of blockchain design. The token possesses three main utilities including burned-to-power computation, staking in the permissionless network, and value storing.
The total Supply of the token is 512,797,562 ICP and the circulating supply is 454,980,498 ICP. The token recorded an all-time high of $700.65 on May 10, 2021, and an all-time low of $2.87 on September 22, 2023. Internet Computer tokens are available on a few of the crypto exchanges including Binance, Coinbase, Huobi Global, and OKX.
DeFi, NFT, Games, Metaverse, and social media are a few of the major projects of Internet Computer token that made it one of the best AI-based altcoins.
Injective (INJ)
Another altcoin to consider for investment in 2024 is Injective or INJ, an open, layer-one blockchain empowering DeFi applications. Its powerful core financial infrastructure supports all forms of financial markets including perpetual, spot, options, and futures, making it a stand-out performer.
The token was founded by Eric Chen and offers customization, network governance, user-friendly experience, and cross-chain trading and yielding. In addition, its tendermint-based Proof-of-Stake consensus mechanism makes it more secure.
INJ token is available on exchanges including Binance, Bilaxy, Huobi Global, and Uniswap, holding a total supply of 100 Million INJ and a circulating supply of 83,755,556 INJ. Also, the all-time high for the token is $44.57, recorded on December 24, 2023, whereas the all-time low is $0.6574, measured on November 03, 2020.
The Graph (GRT)
The Graph is another high-tech altcoin that created its position in the list of 5 best altcoins to watch in 2024. The token was founded by a team of professionals with the motive to bring a reliable decentralized public infrastructure.
It is a work token, offering indexing and curating facilities to the blockchain network. Also, The Graph token is compatible with a wide range of exchanges, and crypto wallets and is secured by the Ethereum blockchain security features.
The total supply of the token is 10,792,816,927 GRT and the circulating supply is 9,364,208,312 GRT. In addition, the altcoin is available on exchanges such as Binance, BlueBit, UEEx, OKX, and Bybit.
Render Token (RNDR)
Another powerful name in the list is Render Token, connecting studios and artists in need of GPU computers potent with the mining partners. Founded by Ari Emanuel, the token is all set to bridge the gap between the crypto community and Hollywood studio production.
The token is mainly used by artists and possesses the security properties of the Ethereum blockchain. The total supply of the token is 530,962,615 RNDR and the circulating supply is 371,908,453 RNDR. the altcoin is available on crypto exchanges including Binance, UEEx, BlueBit, OKX, and Bybit.
Theta Network (THETA)
Theta Network was formulated in March 2019 by Mitch Liu and Jieyi Long with the motivation of facilitating the video industry. Decentralizing video streaming, and constructing the network more efficiently and cost-effectively are a few of the key motives of the token launch.
PoS and multi-level Byzantine Fault Tolerance (BFT) consensus mechanism, on the other hand, balances the transaction throughput with high-level security. THETA holds a total supply of 1 billion and a circulating supply of 1 Billion and is available on Binance, UEEx, OKX, Bybit, and Bitrue.
Conclusion
Artificial Intelligence is believed to be the future of the crypto industry and financing in AI-based altcoins can boost profits. A few of the options are THETA, ICP, INJ, GRT and RNDR.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
