In February, the cryptocurrency market entered a consolidation period. Despite the bullish start of the year, some of
its assets are experiencing double-digit daily increases, with AI coins being
the top three of the top 100 cryptocurrencies by market capitalization.
Finbold reports that, as of February 7, the value of certain cryptocurrencies that
employ AI technology, such as The Graph (GRT), SingularityNET (AGIX), and
Fetch.ai (FET), have experienced a surge in the last 24 hours, according to
information gathered from the reputable source, CoinMarketCap. This is
indicative of a renewed interest in the AI field.
The hype around AI technology is not the only factor that
has made these coins successful; their development, features, the purchasing
behavior of the whales, and their progress milestones have all contributed to
their success.
The Graphical Representation Tool (GRT)
The Graph protocol has its own token, GRT, which can be used
in a variety of ways, such as staking, making payments within the network, and
earning fees by depositing it into a bonding curve and delegating to indexers.
This provides a novel approach to the organization and access of blockchain
data.
The GRT coin has seen a marked increase in the past 24 hours with a gain of 31.25%, and a tremendous surge of 97.29% in the past week, due in part to the recent establishment of a new record for the number of dApps that have queried the protocol's network in the preceding two months.
SingularityNET (AGIX)
A platform created by AGIX, SingularityNET is built to
facilitate the development of AI and machine learning services. The platform is
designed to empower people to develop and share various AI and machine learning
services.
Finbold has recorded a remarkable 900% increase for
SingularityNET's AGIX token since the beginning of 2023. The team behind the
ecosystem is working feverishly to get their Artificial General Intelligence
(AGI) ready for launch, which is just around the corner.
Recently, the team revealed the release of the Mindplex
Magazine and a cooperation with COTI, contributing to the asset's growth of
28.95% during the day and an increase of 227.87% over the week. This has
resulted in the asset's current value of $0.56.
The Fetch.ai (FET) Cryptocurrency
On January 13, Fetch.ai's FET token experienced an
impressive surge of 20%, becoming one of the most noteworthy daily gainers in
the Cosmos (ATOM) inter-blockchain communication (IBC) networks. This was due
to increased awareness of the platform's use as an interchain bridge and work
on Autonomy of Things (AoT).
Fetch.ai reported in a current weekly summary that it had processed more than five million transactions on its mainnet.
Concurrently, one
of its whales was consistently purchasing FET at a low cost, causing the price
of the token to later hit $0.5438, a 24.57% increase for the day and a 100.66%
upsurge for the week.
The Final Words
It is vital to be aware that for digital assets to keep
growing, future advances in AI, its everyday practicality, and public
fascination in its applications will be essential.
The above mentioned 5 artificial intelligence (AI) cryptocurrencies worth watching and potentially investing in during 2023, and these three AI related digital assets included. [pc]
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