Tendencies present that synthetic intelligence (AI) will probably be a serious matter in 2023, as information signifies a surge in curiosity. Since curiosity peaked and Microsoft invested billions into Chatgpt, demand for AI-focused cryptocurrency tasks has risen dramatically. For instance, the crypto venture Fetch.ai has seen its native token FET rise 212% prior to now 30 days, and one other AI venture, Singularitynet, has seen it’s token AGIX improve 293% in opposition to the U.S. greenback.
There’s Been a Surge in Curiosity in AI-Centered Cryptocurrency Tasks
Throughout the week of Jan. 22-28, 2023, the worldwide Google Tendencies rating for the time period “AI” was 94 out of 100. Within the first week of Dec. 2022, the search time period reached its highest Google Tendencies rating of 100. It’s protected to say that the world has turn into more and more centered on synthetic intelligence (AI) because the launch of AI-infused artwork platforms like Dall-E, Deep AI, Jasper Artwork, Starry AI, Nightcafe, and others. Up to now two months, the Openai platform Chatgpt or GPT-3 has turn into a extensively used AI phenomenon.
Google Tendencies exhibits the worldwide rating for the search time period “Chatgpt” was 100 in the course of the week of Jan. 22-28, 2023, and it has been rising because the first week of Dec. 2022. Stories additionally present that Microsoft has entered the third section of its long-term partnership with Openai by a “multi-year, multi-billion greenback funding,” mentioned to be as a lot as $10 billion in funding. The rising pattern in synthetic intelligence (AI) and demand for the expertise has spilled over to blockchain tasks integrating AI into their protocols.
As an illustration, a crypto asset created by the venture singularitynet.io has seen its native token AGIX rise 293% prior to now month. Though singularitynet (AGIX) was down greater than 6% on Jan. 29, 2023, it has elevated 17.5% over the previous two weeks. The venture goals to help the following technology of decentralized AI. One other blockchain-powered AI venture, Vectorspace AI (vspb.science), has a token referred to as VXV that has risen 95.9% over the previous month. The Fetch.ai venture has skilled related demand over the previous 4 weeks.
Over the previous 30 days, the Fetch.ai venture’s FET token has risen 212% in opposition to the U.S. greenback. The Fetch.ai staff says the venture creates “autonomous agent expertise” for peer-to-peer purposes with automation and AI capabilities, with or with out direct blockchain entry.” One other AI-based blockchain venture, Ocean Protocol, and its OCEAN token have risen 130% in opposition to the U.S. greenback prior to now 30 days. Ocean Protocol, named a expertise pioneer by the World Financial Discussion board, goals to unlock information at scale by encrypted information monetization.
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It’s unsure how lengthy the demand for AI-based crypto property and the recognition of those tokens will final. The entire AI-related crypto property are at present ranked beneath the highest 75 when it comes to market capitalization and have just lately seen value surges resulting from elevated curiosity in AI/Chatgpt.
What do you suppose is driving the surge in demand for AI-focused cryptocurrency tasks? Share your ideas within the feedback beneath.
Jamie Redman
Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist dwelling in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information concerning the disruptive protocols rising right now.
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One cryptocurrency sector that has been gaining significant traction in recent times is the AI and big data space. According to a recent tweet by Santiment, a leading cryptocurrency analytics platform, the top 100 AI and big data projects have collectively grown their market caps by an impressive 22% in the past week.
As the AI and big data sectors continue to boom, three projects have emerged as front-runners, seeing major growth and attracting the attention of investors and traders alike. These projects are Openfabric AI (OFN), Aleph.im (ALEPH), and Akash Network (AKT).
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Openfabric AI (OFN)
Openfabric AI, a project focused on developing AI-powered solutions for various industries, has been the top performer in the AI and big data sectors over the past week. Additionally, with a 78% growth in its market cap, OFN has quickly become a coin to watch for potential double-digit gains.
Currently trading at $0.616, OFN has seen a 24-hour low of $0.5515 and a high of $0.6484, indicating strong momentum and investor interest.
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Aleph.im (ALEPH)
Aleph.im, a decentralized cloud computing platform that aims to provide a secure and scalable infrastructure for dApps and decentralized storage, has also seen significant growth in the past week.
With a 64% increase in its market cap, ALEPH has become another top contender in the AI and Big Data sector. In addition, trading at $0.261, ALEPH has recorded a 24-hour low of $0.2435 and a high of $0.2807.
Akash Network (AKT)
Akash Network, a decentralized cloud marketplace that enables developers to deploy and scale their applications, has seen a 49% growth in its market cap over the past week.
Currently trading at $5.13, AKT has experienced a 24-hour low of $4.88 and a high of $6.52, showcasing strong volatility and potential for significant price movements.
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The AI and Big Data sector within the cryptocurrency space is experiencing a major boom, with projects like Openfabric AI, Aleph.im, and Akash Network leading the charge. As the sector continues to see advancements and speculative support from traders looking to gain exposure to artificial intelligence, these coins may be worth watching for potential double-digit gains.
The cryptocurrency market is a mix of new and old crypto coins that hail from a variety of startups and endeavors. In the middle of such a diverse set of crypto coins, exchange-based tokens are also paving their path ahead; however, the limelight on such coins has often been overshadowed by major market players like Bitcoin and Ethereum.
To outline the excellent price progress that these coins have been making this bull season, here are our top three cryptocurrency exchange token picks to explore and interact with to extract maximum profits.
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Top Three Exchange-Based Cryptocurrency Tokens Set to Deliver 50x Profits This Bull Season
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Binance Coin (BNB)
Binance Coin, popularly referred to as BNB, is the primary token of the Binance cryptocurrency exchange. The token was initially launched to simplify trading on Binance. However, with time, the BNB ecosystem expanded its use case, where the token now boasts its blockchain coupled with a variety of apps that use BNB for day-to-day trading and functioning. With such diverse use cases available for BNB, the token is poised to deliver lucrative profits.
According to CoinCodex, BNB may spike by 68% this bull season to trade at $1,021.
“Binance Coin is forecasted to trade within a range of $604.37 and $1,021.78. If it reaches the upper price target, BNB could increase by 68.63% and reach $1,021.78.”
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At press time, the token is sitting at $605, up 0.3% in the last 24 hours.
Cronos (CRO)
Cronos is the primary token of the Cronos blockchain, developed by the notable cryptocurrency exchange crypto.com. Per CoinMarketcap, “CRO owners can stake their coins on the Crypto.com Chain to act as a validator and earn fees for processing transactions on the network. Additionally, CRO coins can be used to settle transaction fees on the Cronos Chain. When it comes to trading use cases, the Crypto.com app allows users to earn token rewards for select listings by staking CRO.”
According to CoinCodex, CRO may also rise and see new price milestones by the end of the current bull season. This may help investors expand their token offerings and include exchange-based tokens, which can be a robust inclusion for securing long-term profits.
“Cronos may trade within a range of $ 0.109954 and $ 0.173514. If it reaches the upper price target, CRO could increase by 32.55% and reach $0.173514.
At press time, CRO is stable, trading at $0.1311.
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Also Read: Cryptocurrency: 3 Coins To Explore Over XRP For Bullish Returns
Uniswap (UNI)
Uniswap is another leading cryptocurrency exchange known for using a set of decentralized smart contracts to execute trades. The token UNI helps the exchange simplify its trading mechanism by acting as a token protocol facilitating automated trading of decentralized finance (DeFi) tokens.
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According to CoinCodex, UNI may spike by a staggering 377% by the end of 2024, tripling consumer profits into millions.
“Uniswap may rise and hit $38.40. If it reaches the upper price target, UNI could increase by 377.74% and reach $38.40.”
Mantle’sMNT/USD price has decreased 3.27% over the past 24 hours to $1.18. This is contrary to the coins performance over the past week where it has experienced an up-trend of 10.0%, moving from $1.08 to its current price.
The chart below compares the price movement and volatility for Mantle over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
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The trading volume for the coin has tumbled 34.0% over the past week along with the circulating supply of the coin, which has fallen 0.16%. This brings the circulating supply to 3.26 billion, which makes up an estimated 52.49% of its max supply of 6.22 billion. According to our data, the current market cap ranking for MNT is #29 at $3.86 billion.
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This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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