Here are three AI cryptos long-term investors may want to put on their radar as projects with very high upside potential.
As the world of artificial intelligence grows and advances, it is no surprise that many in the cryptocurrency space have been striving to use its potential. There are many AI cryptos to watch as the mania around this sector picks up.
Of course, the exponential growth in this space in recent years is alluring. In combination with the upside many top cryptocurrencies can provide, investors are right to view these AI cryptos as having the potential to be highly lucrative over the long term.
When applied to the cryptocurrency space, AI has the potential to enhance the security, scalability, user experience, and market forecasting of many projects. This presents a novel, innovative framework for developers to create efficient, transparent applications and services. AI can detect illegal activities and identify investment opportunities with appropriate training data.
Additionally, AI cryptos provide the currency means of supporting various applications and services related to AI. These tokens can power decentralized AI marketplaces, AI-powered portfolio management, image generation, pathfinding, autonomous organizations, and many other AI-related ventures. They can be utilized by token holders to access specific features of the AI platform or to make transactions within the network.
With that said, I think three AI cryptos should be on the watch list right now.
The Graph (GRT-USD)
The accessibility and searchability of data across multiple systems could be an area for improvement in the application of blockchain technology.
The Graph (GRT-USD), a platform created by Yaniv Tal, Brandon Ramirez, Jannis Pohlmann, and their team, is dedicated to simplifying this process. By utilizing blockchain data, this system enables users to construct customized data graphs.
In late December 2020, GRT was initially valued at around $0.12 as it entered the open market. However, during an extended period of market optimism, the value of GRT increased significantly, reaching its peak of$2.88 on Feb. 21 2021.
Despite a decline from its peak, GRT remained reasonably stable until late May, when its value dropped below one dollar and remained at this level, with only a few brief recoveries in August and November. Ultimately, GRT concluded the year with a value of $0.6446.
Although both The Graph and the cryptocurrency market performed well in 2021, the situation could have been more favorable in 2022. Initially, GRT had a strong start, reaching its peak at $0.7287 on Jan. 5. However, it suffered a significant decline, with its value dropping to $0.3054 on Feb. 24 following the invasion of Ukraine by Russia.
Now trading at under 20 cents per token, The Graph remains an intriguing high-value play within the crypto AI ecosystem. It’s worth noting that this token has more than tripled off its bottom. Thus, while some may focus on GRT’s recent downside, it’s also been a big mover to the upside this year.
Fetch.ai (FET-USD)
A blockchain platform that utilizes smart contracts to facilitate a peer-to-peer autonomous and AI solutions ecosystem, Fetch.ai (FET-USD) is among the AI cryptos I think are worth diving into right now.
That’s because this platform features a collection of autonomous economic agents (AEA) applications, which can function independently and communicate with each other, as described on the Fetch.ai website.
The FET token, the native digital asset of the Fetch.ai ecosystem that provides AI solutions, has experienced a significant surge of 90% over the last month. As of Jan. 11, 2023, it was trading at $0.191. The fact that FET has more than doubled to 43 cents at the time of writing says something.
Currently, FET holds a market capitalization of $356 million and ranks as the 113th most valuable cryptocurrency, according to CoinMarketCap.
By selling approximately 6.4% of the total FET supply in a private sale in February 2019, the company raised over $69 million on the Binance Launchpad. At the beginning of 2021, Fetch.ai introduced its v2 main net, which includes 30 validators.
That said, this recent surge in interest in AI cryptos has clearly helped Fetch. Indeed, this token has been on fire, surging double-digits on a number of days over the past few weeks.
Thus, for those looking for a momentum token, Fetch provides this in spades.
Ocean Protocol (OCEAN-USD)
Ocean Protocol (OCEAN-USD) is a blockchain-oriented community that enables people and organizations to quickly unleash the potential of their data and make money from it by employing data tokens based on ERC-20.
Ocean Protocol provides a blockchain-powered ecosystem that offers individuals and businesses an easy way to unlock the value of their data and turn it into valuable ERC-20-based data tokens. With the help of this platform, data publishers can monetize their data and retain privacy and control. Meanwhile, data consumers can access previously hard-to-find or unavailable datasets. They can do this through the Ocean Market, where the datasets can be purchased, consumed, or even resold.
On Oct. 20, CoinCodex’s prediction for the OCEAN price indicated neutral sentiment, with 17 technical indicators suggesting a bullish trend while 11 showed a “sell” trend. The fear and greed index at that time indicated “extreme fear.”
The present trading value of Ocean Protocol is $0.4642, with a total trading volume of more than $66 million in the last 24 hours, according to the latest update. Ocean Protocol’s value has risen by 4.86% in the past day. Its current market cap is $283 million, ranked #133 on CoinMarketCap. The circulating supply of OCEAN coins is 613,099,141, and the maximum supply is 1,410,000,000 OCEAN coins.
