April 10, 2023
By Murtuza Merchant
The world of AI-driven cryptocurrencies has been rapidly gaining traction, and for traders seeking high returns, it’s essential to be in the right narrative at the opportune moment.
This year has witnessed the AI crypto narrative emerging as a powerful force with immense growth potential still lying ahead. Numerous AI-related altcoins have experienced significant price surges since ChatGPT’s introduction in January, and as tech giants like Google don’t want to lag behind, more positive AI-related news is likely to follow.
In this article, we present ten tokens that have already witnessed rallies but are currently experiencing a pullback, which positions them perfectly for new price explosions when the altcoin season arrives.
SingularityNET ($AGIX)
SingularityNET is a blockchain-based platform empowering anyone to create, share, and monetize AI services effortlessly through its globally accessible AI marketplace. Users can access a wide variety of AI services by purchasing them using the platform’s native utility token, AGIX.
In contrast, AI developers can utilize the marketplace to sell their AI tools and track performance. AGIX, an ERC-20 token, facilitates transactions, staking, and governance. Its price has skyrocketed over 1000% since January, currently standing at 48 cents, down from its 59-cent high. AGIX has a market cap of $590 million, with 60% of tokens currently released. It is listed on prominent exchanges like Binance, KuCoin, and Gate.io, as well as Uniswap.
Render Token ($RNDR)
The Render Network is a decentralized GPU-based rendering solution provider built on the Ethereum blockchain. It aims to connect users in need of GPU computing power with mining partners willing to rent out their GPU capabilities. Render token (RDNT) is an ERC-20 native utility token that serves as a payment currency on the platform.
RDNT has a market cap of $481 million, with two-thirds of its tokens in circulation. It is listed on all major centralized exchanges and Uniswap. RDNT has experienced a significant rally since the beginning of the year, fueled by the DAO-approved burn and mint mechanism, making RDNT a deflationary asset. The price now stands at around $1.3.
Injective ($INJ)
Injective is an open, interoperable layer-one blockchain designed for building powerful DeFi applications. It incorporates a decentralized exchange based on Ethereum that offers cross-chain margin trading, derivatives, and forex futures trading. INJ, the ecosystem’s native token, is used for protocol governance, dApp value capture, PoS security, developer incentives, and staking.
The INJ token is highly deflationary, with 60% of all fees from dApps built on Injective being destroyed every week through buy-back and burn, allowing the INJ supply to decrease over time. INJ has a $295 million market cap, with 73% of tokens released.
It is listed on all major centralized exchanges and Helix, PancakeSwap, SushiSwap, and Uniswap. Injective has witnessed a considerable price rise since January, jumping from $1.2 to almost $5, and is currently valued at around $4.
Fetch.ai ($FET)
Fetch.ai aims to democratize access to AI technology with a permissionless network that allows anyone to connect and securely access datasets using AI to execute tasks leveraging Fetch’s global network of data. Its native token, FET, was launched on the Binance launchpad in 2019.
FET facilitates the protocol’s agents in performing certain tasks and is also used for staking and as a currency in the Fetch.ai ecosystem to pay for services. Its price has surged over 10x since the beginning of 2023, peaking at 60 cents, and currently residing at 41 cents.
Fetch.ai’s market cap stands at $334 million, with a total supply of 1,152,997,575 tokens. It is listed on all major centralized exchanges and Uniswap and PancakeSwap.
iExec RLC ($RLC)
iExec is a leading provider of blockchain-based decentralized computing, offering on-demand access to cloud computing resources. Its native token, $RLC, is an ERC-20 utility token that enables the trading and usage of cloud resources within the iExecRLC ecosystem.
Since the beginning of the year, its price has doubled but has since retraced and is now valued at around $1.8. RLC has a market cap of $150 million, with over 90% of tokens in circulation. It is listed on all major centralized exchanges and SushiSwap.
Ocean Protocol ($OCEAN)
Ocean Protocol is an ecosystem designed for sharing data and services. It allows anyone to tokenize their datasets and make them available on the Ocean Market. In turn, scientists, researchers, data analysts, AI developers, and others can easily access datasets that were previously hard to find.
OCEAN is an ERC-20 token and the native token of the Ocean Protocol ecosystem. Data providers earn OCEAN tokens for providing access to their datasets, while data buyers use OCEAN tokens to access the data. It is also used for staking and governance. OCEAN token is deflationary with a capped supply, and 5% of all network revenue is burned.
Its price has climbed from 11 cents to 59 cents since January 2023 and has now stabilized at around 37 cents. It has a current market cap of $233 million, with slightly less than half of its tokens in circulation. It is listed on all major centralized exchanges, Uniswap, and SushiSwap.
Oasis Network ($ROSE)
Oasis Network is a decentralized blockchain network built by Oasis Labs, enabling secure and private data-sharing and control. It supports confidential smart contracts that keep data private while being processed.
The ROSE token is the native utility token of the Oasis ecosystem, used for staking and delegation in network consensus and paying transaction fees. ROSE has doubled in price since the beginning of the year and is currently sitting at 6 cents.
It has a $350 million market cap, with just over half of its 10 billion tokens in circulation. It is listed on all major centralized exchanges.
Ravencoin ($RVN)
Ravencoin is a protocol based on a fork of the Bitcoin source code, with additional features allowing users to issue security-like tokens on its blockchain. Tokens issued on Ravencoin can be used for various purposes, including representing real-world assets and NFTs.
RVN is the native coin of the protocol and is used as an internal currency within the network. It has a capped supply of 21 billion tokens and must be burned to issue tokens on the Ravenchain, making RVN a deflationary token. RVN has doubled its price since January and is now valued at around $0.027. It has a $331 million market cap, with almost 60% of tokens in circulation. RVN is listed on several exchanges, including Binance, Upbit, and OKX.
CryptoGPT ($GPT)
CryptoGPT is a blockchain-based platform that allows you to own the monetization of your AI data. CryptoGPT apps track various activities, such as dating, gaming, and education.
They capture and package this data, which you can sell on CryptoGPT’s marketplace and earn money. GPT, a recently launched token, powers the CryptoGPT ecosystem. It is used for buying and selling data, staking, and governance.
Since its inception, GPT has seen a significant price increase, reaching a peak value of $2.5 before settling around $1.8. It has a market cap of $310 million, with 75% of tokens in circulation. GPT is listed on major exchanges such as Binance, KuCoin, and Gate.io, as well as decentralized platforms like Uniswap and SushiSwap.
DeepBrain Chain ($DBC)
DeepBrain Chain is a decentralized AI computing platform that aims to reduce the cost of AI training and inference by utilizing a distributed network of nodes. DBC is the native utility token of the platform, used for paying node operators for their computing power, incentivizing developers, and participating in network governance.
Since January, DBC has experienced a significant price increase from $0.001 to $0.009, and it currently resides at around $0.007. Its market cap is $95 million, with 85% of tokens in circulation. DBC is listed on various exchanges, including Huobi, KuCoin, and Switcheo Network, as well as decentralized platforms like Uniswap.
About the author
Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.
