As an early adopter and a crypto enthusiast, I've been closely following the rise of AI Crypto Coins. The year 2024 has been nothing short of a roller coaster ride for us. Ever since OpenAI's ChatGPT was released in late 2022, AI has become all the hype. This mania has since perpetuated to AI crypto coins, with prices surging across the board.
Top AI Crypto Coins by Market Cap
The top AI crypto coin by market cap is Internet Computer (DFINITY), at $8.28 billion as of April 08, 2024. This is followed by the NEAR Protocol (NEAR), with a market cap of $4.44 billion. Bittensor (TAO) is third, with a market of $3.81 billion. Bittensor, a decentralized machine learning protocol powered by the TAO token, remained the largest AI crypto coin throughout January and February 2024.
Movers and Shakers
However, outside of the top 5, there were significant changes. Autonolas (OLAS), which started 2024 in sixth place with a market cap of $0.30 billion, dropped to 24th as of April 8, at 172.30 million. Nosana (NOS) did really well in getting higher in the rankings. At the beginning of 2024, it was in ninth place. But by the end of February, it moved up to seventh place. Its market cap, which is how much the company is worth, went up a lot, too. It went from being worth $0.05 billion to $0.51 billion, which is an increase of $0.46 billion in February. But now, it's dropped again to 16th place, and its market cap is $257.21 million.
2024's Biggest Gainers
The largest gainer amongst crypto AI coins in 2024 was Nosana, with a price increase of 987.9%, rising from $0.56 to $6.01 within two months. This was followed by DeepFakeAI (FAKEAI), which saw an increase of 628.6%, from $0.0008 to $0.0069. Synesis One (SNS) came in third, rising 595.4%, increasing its price from $0.016 at the start of the year to $0.108 by the end of February.
The Impact of OpenAI's Sora
The announcement of OpenAI's Sora text-to-video model saw an average price increase of 151.0% amongst AI crypto coins. DeepFakeAI benefited the most from OpenAI's latest product, having managed to reverse its downtrend of -31.4% on February 17, to 628.6% on February 29.
Leaders in Market Cap Growth
In terms of increase in market cap, Bittensor led the pack, having added $2.22 billion in valuation. It was followed by Render, which increased by $1.20 billion. SingularityNET (AGIX) came in third, with its market cap rising by $0.51 billion since the start of 2024 to $0.93 billion.
Looking Ahead: The Future of AI and Crypto
As we move forward, the AI-Crypto narrative continues to evolve. The convergence of AI and blockchain technologies is creating new opportunities and challenges. But one thing is certain: the future of AI and Crypto is bright, and I am excited to be part of this journey.
Sources: Coingecko, Bitcoininsider, and Bitcoinethereumnews.