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ThecoinrepublicCryptocurrencyExploring The Top AI Cryptos: The Foremost...
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Exploring The Top AI Cryptos: The Foremost Contenders For 2024

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AI cryptocurrencies are the specialized digital assets supporting blockchain projects powered by artificial intelligence. The AI tokens serve multiple functions, from enabling transactions to granting their holders governance rights. It allows them to participate in the decision-making processes related to the project’s development. 

The AI-driven blockchain sector has witnessed remarkable growth, with a collective market capitalization soaring to an impressive $32.78 Billion. Moreover, it has a daily transaction volume of $2.55 Billion, as per the data obtained from coinmarketcap.com. 

Furthermore, the burgeoning field of AI crypto projects has huge potential. However, several AI cryptocurrencies have left investors confused about which could be the best out of all. Let’s analyze the Top three AI crypto projects to be considered. 

Near Protocol (Near)

NEAR Protocol makes use of Nightshade technology to enhance the transaction processing capabilities significantly. Nightshade is an advanced form of sharding where transactions are handled concurrently by different validator groups across several shard chains. Unlike other traditional sharding methods, Nightshade’s shards contribute portions of a block, known as “chunks,” which allows the assembly of a complete block. 

This innovative approach enables NEAR to process up to 100,000 transactions every second, allowing transactions almost instantly due to the rapid one-second block intervals. Moreover, this efficiency is achieved while maintaining transaction fees at a nearly negligible level, making it a cost-effective solution.

   

Near protocol price was exchanging hands close to $5.57 at the time of writing. The price has culminated at over 133% in the last two quarters and 52.57% on a year-to-date basis. Although, it’s still a whopping 72.11% below its record high attained on January 17th, 2022. 

Out of a total of 1.19 Billion tokens, 1.088 Billion NEAR tokens are currently in circulation. It has a live market capitalization of 6.06 Billion USD, ranking 18th in the cryptoverse.

Render (RNDR)

RNDR is a utility token based on the ERC-20 standard. It serves as a medium of exchange within its network. Artists use RNDR tokens to acquire GPU computing power from node operators who provide this service. The network employs a hybrid system that combines manual and automated proof of work termed ‘proof of render’ to ensure that artwork is fully rendered before the artist’s payment is released and the final artwork is delivered. 

Moreover, This system capitalizes on the Ethereum blockchain‘s robust security features; it hashes proprietary assets at the time of upload and distributes them in segments to the nodes for the rendering process. This method ensures the integrity and security of the assets throughout the rendering cycle.

   

As per coinmarketcap.com, the most recent price of Render is 40.35% lower than its all-time high, recorded three months ago. Still, the render crypto boasts a 76% gain in the last two quarters and a 332% rise in the previous 12 months. 

At the time of writing, the RNDR token was hovering close to $7.8 with a live market capitalization of 3.03 Billion USD. It has 388.64 Million tokens in circulation out of 532.07 Million RNDR tokens. 

Injective (INJ)

Injective Protocol stands out by offering robust foundational financial primitives that applications can utilize. It includes an on-chain order book that is fully decentralized and resistant to Miner Extractable Value (MEV). Moreover, it supports a comprehensive range of financial markets, spot trading, perpetual contracts, futures, and options operating entirely on-chain.

The protocol’s decentralized bridging infrastructure facilitates cross-chain interactions, ensuring compatibility with Ethereum, blockchains enabled by the Inter-Blockchain Communication (IBC) protocol, and even non-Ethereum Virtual Machine (EVM) chains like Solana. It makes Injective a versatile platform for various financial transactions in the blockchain space.

Injective claims to be the third largest AI cryptocurrency with a live market capitalization of $2.48 Billion, ranking at 40th among all. Despite being down nearly 47.62% from its all-time high of $52.75, injective has bagged a 349% return over the last 1 year. 

When writing, the crypto traded close to $26.59, recording a 7.68% drop in intraday. Out of a 100 million total supply, 93.40 Million INJ tokens are currently in circulation. 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Adarsh Singh
Adarsh Singh
Adarsh ​​Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
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