Top AI Crypto Tokens You Need to Watch Out for in 2024

Introduction

In this article, we will look at yet another sector of the crypto industry that is very hot right now. Ever since the launch of the ChatGPT on November 30, 2022, the idea of general artificial intelligence and big data has been in the talks all the more. This is specifically why it is a sector of the crypto industry that you should be aware of and know about. The crypto market has a bunch of really good projects that you can look at if you are eyeing this sector.

Artificial intelligence in the world of technology is expanding at a breakneck pace, and it is quickly becoming commonplace in many industries, including crypto. AI in crypto has especially taken off in recent months thanks to its potential to contribute to the blockchain space to improve user experience, scalability, and even security.

But, What is an AI Crypto?

AI crypto tokens, also known as artificial intelligence coins, are crypto assets that incorporate artificial intelligence technology into their core operations. These could range from being a dedicated platform for AI (artificial intelligence) and ML (machine learning) researchers and developers. These platforms can be used to develop and test new models, applications, and even algorithms in a truly decentralized manner.

Another variety could be one where, unlike conventional crypto assets, AI crypto coins study market patterns, make predictions, and execute trades in an automatic setup using machine learning algorithms and natural language processing. Since these have the ability to learn and adjust very quickly, it is widely considered to be more dynamic investment options in the crypto space. AI technology can also be employed by crypto projects to increase network security!

So with the concepts out of the way, let us take a look at some of the biggest AI crypto tokens that a crypto market participant needs to be aware of.

Top AI Crypto Tokens by Market Cap

NEAR Protocol (NEAR)

NEAR Protocol emerges as a pivotal player in the top AI crypto tokens in 2024, boasting the highest market cap among its peers in 2024. Known for its robust infrastructure supporting decentralized applications (dApps), NEAR Protocol stands out with its scalability and developer-friendly environment, making it a preferred choice for AI projects.

The protocol’s architecture facilitates high-speed transactions and low transaction costs, crucial for AI applications that require rapid data processing and secure data handling. NEAR’s consensus mechanism, based on sharding, enhances its scalability, enabling it to handle a growing number of AI-related transactions efficiently.

Moreover, NEAR Protocol’s integration of cutting-edge technologies such as secure multi-party computation (MPC) and homomorphic encryption enhances its appeal in the AI sector. These technologies ensure data privacy and security, critical for handling sensitive AI models and data sets.

As the AI industry continues to expand, NEAR Protocol’s ability to support complex AI computations in a decentralized manner positions it as a frontrunner in the market. Investors and developers alike are closely watching NEAR for its potential to revolutionize how AI applications are built and deployed, setting new standards for innovation and scalability within the AI crypto token space.

NEAR/USD | Source: TradingView

• NEAR price trajectory in 2024 started with strong bullish momentum, with only a minor setback observed in April. Soon after in June – once again we see a correction in NEAR price in line with the broader crypto market correction.
• NEAR Protocol price is currently trading below both the 50-day and 200-day EMAs – indicating short and medium to long-term weakness for the altcoin’s immediate future. 
• NEAR price need to recovery quickly and trade back above the crucial $7 level, which has been rejected several times – and thus a breach would bring in fresh buying interest in the token. Further that rally would prevent the formation of an extremely bearish death cross of the 50-day and 200-day EMAs. 
• Conversely, the S3 Fibonacci support level, stands poised to provide crucial support for NEAR price if tested on the downside, as it has done earlier in June 2024. 

Read On: Top Altcoins in 2024

Render token (RNDR)

Next on the list of top AI crypto tokens in 2024 is Render. Render Token is an AI crypto project that has created a network to provide decentralized GPU-based rendering solutions, to transform the digital creation process. Thus it attempts to leverage the power of blockchain technology to provide an efficient and secure way for digital creators to access powerful computers and processing units to undertake complex rendering tasks. According to its whitepaper, rendering refers to transforming a 2D or 3D computer model into a realistic image and scene.

So this AI crypto project is trying to connect users to perform render jobs with people who have a lot of idle GPUs to process these renders, thus making it more accessible to users across the globe in a decentralized manner – essentially a cloud rendering network.

With the advent of artificial intelligence, one could use AI & ML technologies to create these powerfully rendered content pieces, which is why Render Token is in the thick of this development to gain the most out of it. As the name suggests, this project is run using the Render Token, or RNDR.

NEAR/USD | Source: TradingView

• Render price has been highly volatile throughout 2024. The RNDR token saw an impressive rally of 217% between February and March, reaching new year-to-date highs near $14.
• By the first week of May, RNDR price had again surpassed April’s highs, nearing the peak levels set in March 2024.
• Throughout the remainder of May, Render price experienced a period of sideways movement, remaining confined within a narrow trading range and showing limited volatility.
• At the beginning of June 2024, RNDR price underwent a significant correction, falling below its short-term 50-day Exponential Moving Average (EMA) and finding support around the $6.5 region. This level is near the S2 Fibonacci pivot and below the 200-day EMA.
• For Render to resume its bullish trend, RNDR price must break through the highs attained in May, which are above $12, before fresh buying interest can be expected to return.

Read more: Top ERC-20 Tokens

The Graph Token (GRT)

The first token on the AI crypto token list must be The Graph Token. The Graph Token is a project, that runs using its native crypto token, GRT. It is an Ethereum token (ERC-20) that powers a decentralized protocol for indexing and querying data from blockchains. Just as Google indexes the internet, The Graph is a project that works to index blockchain data from various networks like Ethereum and Filecoin. It basically a decentralized data aggregator where data is grouped into APIs called subgraphs that anyone can query.

The Graph is a global data layer in the crypto industry that runs on top of blockchains and storage networks. It acts as a uniting and organizing factor for the decentralization movement happening in Web3, and it is going to play a major part in that view. Essentially, this project organizes relevant data from various blockchains and stores them in such a way that it is easily retrievable from the blockchain. So, The Graph uses artificial intelligence (AI) to effectively learn how to index data and organize this information into subgraphs for querying efficiency on its platform.

GRT/USD | Source: TradingView

• The Graph token stands out in the AI crypto sector, albeit it has shown relative weakness compared to its peers. Similar to Render, GRT price experienced a significant surge earlier this year.
• Following its peak in March, where it achieved new year-to-date highs, GRT price has since been on a downward trajectory and is currently finding support around the critical $0.2 level, which aligns with the S2 Fibonacci level.
• For GRT price to reclaim bullish momentum, it must surpass both the 50-day and 200-day Exponential Moving Averages (EMAs) and prevent them from forming a bearish death cross.
• Conversely, if there is downward pressure, the S3 Fibonacci pivot at $0.15 is expected to act as a pivotal support level for GRT price, providing a buffer against potential selling pressures.

Read More: Top 10 Crypto Tokens in 2024

Injective (INJ)

Injective is next on the list of top AI crypto tokens you need to know, which was specifically designed for the finance industry. It is an open-source blockchain network, which is highly interoperable and happens to be a layer-1 project that aims to be the backbone powering the next generation of decentralized finance applications (dApps). These next-gen dApps include the likes of decentralized sport and derivatives exchanges, prediction markets, and even lending protocols.

Since it offers seamless “plug-and-play” financial infrastructure, it has the ability to integrate artificial intelligence (AI) into its systems which can then be employed to trade in these markets using AI. Injective aims to provide a fully decentralized on-chain order book mechanism for trading activities and something that the existing financial infrastructure DeFi applications can even use. Injective’s decentralized cross-chain bridging infrastructure is compatible with Ethereum and some non-EVM chains such as Solana too.

INJ/USD | Source: TradingView

• Amid a backdrop of increased market optimism, Injective, an altcoin, faced bearish trends from March to May 2024, but signs of reversal have emerged in June.
• INJ price had shown initial signs of recovery, having broken above both the 50-day and 200-day EMAs. But it now back to trading below both the EMAs, both of which have undergone a bearish death crossover as well.  
• Currently trading just above the psychological level at $20 – it needs to recover more than 40% from current levels and break out over the $28 level – which would bring INJ price above both the EMAs and the abse FIbonacci pivot as well. 
• Once that is breached, we can see targets of $30 to even $33 going forward into the next month. 
• On the downside, the crucial psychological support level at $20 should serve as support for Injective price, given it has been a support once before in June 2024 already. 

Fetch.ai (FET)

Last, but not least in the list of top AI crypto tokens you need to know about is Fetch.ai. Fetch.ai is yet another open-source, decentralized ecosystem that enables developers to build a new digital economy aided by intelligent autonomous agents. It aims to integrate AI into its ecosystem by allowing the creation of these intelligent autonomous agents, which are tools that function using AI. These tools are so competent that they can handle complex tasks such as analytics, predictive modeling, and even decision-making.

Thus, Fetch.ai is a distributed ledger-based artificial intelligence (AI) and machine learning (ML) platform that seeks to provide AI platforms and services to enable anybody to build and deploy AI at scale from anywhere. As mentioned earlier, Fetch.ai seeks to make truly autonomous decisions, achieved with a decentralized network that supports an ecosystem of “agents” to seek, negotiate and trade in an economic internet. It is run using its native crypto token, FET.

FET/USD | Source: TradingView

• Fetch.ai’s native token, FET price has been in a sustained downtrend over the past three months, following significant early gains in 2024 driven by the excitement surrounding AI-related cryptos.
• Recently, after experiencing a substantial 54% correction from its year-to-date highs, there are now initial signs of recovery, marked by a notable 31% spike in the past 24 hours in FET price. Despite this positive movement, considerable ground still needs to be covered.
• To attract fresh buying interest, FET price must break above both the 200-day Exponential Moving Average (EMA) and the 50-day EMA. Additionally, surpassing the critical $2 level, which coincides with the 50-day EMA, is crucial for sustaining upward momentum.
• A successful breach of the $2 zone in FET price could pave the way for new price targets, with potential highs ranging from $2.7 to as much as $3.1 before the end of the current month, contingent upon bullish market participation.
• In case of downward movement, the S3 Fibonacci pivot level is expected to act as a robust support zone, a role it played earlier in June 2024, providing stability against potential selling pressure.

SingularityNET (AGIX)

Up next on the list of top AI crypto tokens you need to watch out for is SingularityNET, and its native crypto token goes by the ticker AGIX. SingularityNET is like a marketplace powered by blockchain technology – that anyone can effortlessly “build, share and monetize” artificial intelligence services. This marketplace enables developers to put out new technologies to solve real-world problems and helps potential customers browse, assess, and purchase those AI services. All of these functionalities are done in a decentralized manner, utilizing its native crypto token, AGIX.

The team behind SingularityNET has been one of the pioneers in the artificial intelligence space as well and is also well recognized for partnering with the most expensive robot in the world, known as Sophia. The primary objective of SingularityNET is to allow Sophia to comprehend human language more effectively and consistently. SingularityNET is considered to be a very crucial platform that has enabled every developer to trade their AI tools and libraries. Anything from data models to other AI-related tools can be traded too on this platform.

AGIX/USD | Source: TradingView

• SingularityNET price has been on a prolonged downward trajectory, moving within a descending channel as indicated on the chart.
• In recent days, AGIX price has shown signs of life, rallying in line with the increasing adoption and interest in AI technology, although the overall trend remains bearish.
• Despite the bearish outlook, green shoots are appearing. If AGIX price can break through both the 50-day and 200-day Exponential Moving Averages (EMAs) before they form a bearish death cross, fresh buying interest may emerge.
• Should AGIX price manage to breach the $1 mark before the end of the month, it could set the stage for new year-to-date highs in July 2024.
• On the downside, the region between the psychological support level at $0.5 and the S3 Fibonacci pivot level at $0.55 is expected to provide a strong support base for AGIX price.

Conclusion

To conclude, this article compiles a list of some of the most well-known and well-known projects in the crypto industry related to artificial intelligence (AI) and machine learning (ML). A convergence of these two fields is attracting a lot of attention from investors and developers alike, who see enormous potential in the space for a while. And with AI technologies’ growing popularity and adoption, the potential for these kinds of projects is huge! These are trying to use AI to solve various kinds of problems in the sector and thus have been selected for this list.