Crypto

Is The Bull Run for AI Crypto Coins Over or Only Just Beginning – 2023 Trader Predictions

02/12/2023
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Artificial intelligence (AI) passes among the most popular phrases beginning late last year and into 2023, fueled by OpenAI’s successful launch of ChatGPT. With the overall cryptocurrency market cap down 1.14% to $1.059 trillion, AI crypto coins have become a mainstream trend in the cryptocurrency sector, recording significant price surges as investors flood AI assets.

Further supporting the case for AI crypto coins, Tron founder Justin Sun recently revealed that his company would begin working on AI. However, before the Tron executive lives up to his commitment, the following is a brief dissection into some of the surging AI crypto coins and the fundamentals around their current bull run.

AI Crypto Coins Going Mental in 2023

While the wider cryptocurrency market continues to enjoy a well-earned rally that started at the beginning of the year, AI crypto coins, a relatively niche subset of the industry, have been outpacing the rest of the market players in a big way.

Fetch.ai (FET)

Fetch.ai (FET) is one of the most bullish AI crypto coins this year, surging more than 463% year-to-date. It is the ticker token for the Fetch platform, which develops autonomous agents to help developers automate repeatable processes. The FET token helps power peer-to-peer (P2P) applications with automation and AI.

At the time of writing, FET was trading at $0.45, and while this was an 8% dip in 24 hours, the price was still 53.3% higher than its rate a week ago and 189.5% higher in the last month.

Fetch.ai (FET)
CoinMarketCap Chart: FET

The 2023 rally displayed by the FET token is attributed to its AI tools, alongside the introduction of staking functionality a few months ago that saw it listed on several crypto exchanges. The FET token recently secured a listing on Huobi, opening FET (Fetch) spot trading (FET/USDT) and spot Grid trading (FET/USDT) for users.

Notably, given that there is no major catalyst behind the FET bull run, the coin’s price may correct soon after momentum flattens out.

Artificial Liquid Intelligence (ALI)

Artificial Liquid Intelligence is the native token for Alethea AI, self-proclaimed to be the world’s first multimodal AI system generating characters from natural language. While very little is known about ALI coin, its website notes that the token is backed by giant crypto exchange Binance, Crypto.com, and Multicoin Capital.

Artificial Liquid Intelligence has climbed the ladder to secure a place among the most prominent cryptocurrencies worldwide, with the ALI token now valued at more than $241.8 million, around 10% higher than the last day.

At #222 on CoinMarketCap, the token was trading at $0.067 at the time of writing after gaining 9.7% in the last 24 hours, 87% in the last week, and 413% in the last month.

Artificial Liquid intelligence (ALI)
CoinMarketCap Chart: ALI

SIngularityNET (AGIX and SDAO)

SingularityNET touts itself as a distributed network AI platform and a blockchain-powered artificial intelligence marketplace where users can “create, share, and monetize” AI services. It has two native tokens, AGIX and SDAO, which have recorded notable bull runs over the past few months, jumping 595.4 % and 293.4% in the last month, respectively. As such, they feature among the best-performing AI crypto coins in the industry today.

SingularityNET (AGIX)
CoinMarketCap Chart: AGIX

The SingularityNET ecosystem is developing a decentralized AI platform that will allow anyone to search for and buy AI products.

The platform would also enable developer efforts to build and sell their AI products alongside featuring a Domain Specific Language (DSL). The price surge displayed by AGIX and SDAO can be attributed to the ecosystem’s growth.

The Graph (GRT)

The Graph is a big-data indexing protocol advertised as ‘Google’s blockchain.’ The token has recorded a massive bull run, soaring over 65% at one point in around 24 hours. Currently, the GRT token is up 71% in the last week and 126% in the last month.

The price broke out into the scene in late 2020 and early 2021 but eased off following the creeping of a bear market catalyzed by weak tokenomics as a chunk of tokens, which was vested to founders and early investors and backers, was unlocked in little bits over the past two years.

Notably, The Graph has been active in collaborations and has recently joined hands with Spool as users look to leverage the benefits of higher uptime, lower data latency, and increased performance.

Nevertheless, the GRT token has made remarkable advancements since then, recording nearly 90% of its total and maximum supply in circulation. That, coupled with “an AI-crest-riding” narrative, has the token well set as a potential mid-high-cap gem should bullish market conditions continue.

Besides the above, other AI crypto coins we have mentioned in the past include Numeraire (NMR), Oraichain (ORAI), Big Data Protocol (BDP), Ocean Protocol (OCEAN), DeepBrain Chain (DBC) and iExec (RLC), all of which are doing relatively well too.

AI Crypto Coins Are The Future: Nansen CEO

In Episode 8 of Hashing It Out, Nansen CEO Alex Svanevik commented about the use of artificial intelligence in the crypto arena, saying he is confident that artificial intelligence will be integrated into crypto applications in a way expected to improve user experience significantly. Likening how Bing integrated ChatGT, the Nansen executive believes “several crypto on-chain data platforms will use AI to help users find information more quickly, Cointelegraph reports.

It is worth mentioning that most people in the cryptoverse would not have been able to name even one AI crypto coin barely two months ago. It, therefore, goes without saying that the current rally can be attributed to the Fear of Missing out (FOMO), which investors should never use as an investment strategy.

Alternatives For AI Crypto Coins

If unsure of the bull run displayed by AI crypto coins, consider FGHT, the native token of the Fight Out ecosystem.

Fight Out is a move-to-earn (M2E) project that helps participants improve their health, earn rewards, and compete in the metaverse. The app tracks your life workouts and improves your avatar’s stats as you progress.

FGHT is currently in the presale stage, having raised $4 million with only nine hours left to the end of the current stage. The token has been slated for listing on April 5, a month after the end of the presale phase.

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Source: https://insidebitcoins.com/news/is-the-bull-run-for-ai-crypto-coins-over-or-only-just-beginning