thenewscrypto.com
- AI tokens such as NEAR, RENDER and FET have shown significant growth in 2024.
- Vitalik Buterin has endorsed the integration of AI and blockchain technology.
As 2024 draws to an end, the cryptocurrency market has begun to take a look back at this significant year. The leading cryptocurrency, Bitcoin surpassed its previous ATH twice this year. Several new digital assets debuted in the market, specifically, the US and Hong Kong spot Bitcoin and Ethereum ETFs.
Among other digital asset sectors such as memecoins, PolitiFi tokens, and NFTs, AI tokens also showed notable performances this year. AI cryptocurrency has always been a connecting bridge and an exemplar of how cryptocurrency can include utility outside of the sector. It also holds testimony for how the sector can foster innovation and technical growth with Artificial Intelligence.
AI tokens have seen enhanced interest among investors within the sector and have also shown notable growth over the past year. This article identifies the top AI tokens that recorded significant performances in 2024.
What are AI Tokens? – An Overview
AI tokens are cryptocurrency tokens that are integrated into AI technology projects. This enables the projects to leverage blockchain technology and tokenization to enhance different aspects of their projects. Furthermore, they also function as a bridge to integrate AI into the world of crypto thus fostering innovation on both ends.
For instance, using AI, users can customize and personalize trading strategies and executions within the blockchain systems. These tokens integrate AI characteristics such as machine learning, and personalization of data analytics into the blockchain system.
Moreover, AI tokens also hold a use case by serving as rewards. Several ecosystems deploy these cryptocurrencies for users who introduce innovative AI solutions in the form of algorithms, models, and others. Apart from these AI cryptocurrency plays a crucial role in leveraging smart contracts, which is an automated blockchain activity.
What brought the AI tokens to Crypto Spotlight?
Since the beginning of 2024, investors have been drawn to the AI cryptocurrency sector. While it mainly focused on upward price movements, the sector’s turn towards innovation also played a role. Early on, in February of this year, AI tokens exhibited an upward price rally.
Additionally, the development and enhanced integration of the DeFi sector into our digital asset sector also contributed to AI tokens’ development. Over the past three quarters, there have been several price cycles that drew attention to this category of digital assets.
The top 6 AI tokens that showed significant growth this year have been discussed below.
Top AI Tokens with Significant Growth in 2024
Near Protocol (NEAR)
This leading altcoin is the largest AI token within the crypto sector. Over the past year, the NEAR token has exhibited a 215.33% surge in price. At the year’s beginning, it was trading at a low of $1.73 and has climbed nearly five times since then. In this recent crypto bull market, the token has surged 25.78% (7-day price increase). At the time of writing, NEAR was trading at $6.355 as per CMC data.
The Near Protocol ecosystem has also undergone crucial updates over the last year. As reported by its official website, the ecosystem in August launched stateless validation in its mainnet.
Artificial Superintelligence Alliance (FET)
FET has drawn market attention, particularly over the past few months with its crucial price movements. Although in this current bullish trend, the AI token has contradicted with a bear run, its YTD still remains at a positive 97.89%. On inferring its yearly chart, the cryptocurrency shows a 231.42% price increase. At the time of writing, FET was trading at $1.304.
On the other hand, the ASI Alliance community has remained quite active over the past year. Recently, on November 13, they released a vision paper announcing integration with Singularity Net, Fetch.ai, Ocean Protocol, and another DeFi project.
Bittensor (TAO)
Bittensor, another leading player in the AI tokens sector has factored in significant growth over the past year. The cryptocurrency has rallied by 281.88% in yearly increase moving upward from $224.25 to current prices at the $500 level. At the time of writing, the AI token was trading at $530.6 as per CMC data.
Similar to the aforementioned tokens, the TAO community has also been spurring with actions. In October, for the first time, Bittensor introduced Ethereum Virtual Machines (EVMs) in its blockchain network. Previously, in July the ecosystem encountered a security breach which led to a significant price drop in the AI token.
Render (RENDER)
The native token of the Render Network, this AI token has factored in notable growth in its price over the past year. Inferring to RENDER’s yearly chart, it shows a 214.18% price increase. This is further highlighted by the YTD standing at a positive 56.56%.
The cryptocurrency has exhibited minimal growth in the past two months and has not regained its trading levels from the March bull run. At the time of writing, RENDER was trading at $7.165 as per CMC data.
At the year’s beginning, RENDER was trading at the $3 levels before rallying to current ranges. Meanwhile, the network has also been working on advancements, one of which includes its dashboard going live in February this year.
Injective (INJ)
Another top player in the AI-crypto sector is Injective. This community brings to its users a variety of products including NFTs and memes in the form of ninjas. However, the INJ token has not shown much significant price growth in the past few days. When zooming out to the yearly chart, this conclusion differs as INJ shows a 57.52% price increase. At the time of writing, INJ was trading at $25.15.
Moreover, recently, on November 13, the Injective community made major announcements regarding new features launch. The blockchain’s X post stated that memecoins could be launched on its ecosystem and outlined the details of this project. Additionally, crypto exchange Upbit recently listed the INJ token on its platform.
Arkham (ARKM)
The native token of the deanonymizing platform Arkham Intelligence, ARKM holds prominence within this sector as well. The platform utilizes AI resources for data aggregation and decoding blockchain activities. ARKM has surged by 343.21% in the last year. At the time of writing, ARKM was trading at $2.106 as per CMC data.
Within this bull run, the AI token has incurred a further price increase of 11%. It is currently trading at $2 levels. Moreover, the ARKM market cap has reached a new high of nearing $30 billion as per DeFiLlama data. Additionally, its FDV also surged in March of 2024 but has since then dropped.
What Does the Future Look Like for AI Tokens?
AI technology has received worldwide attention with every nation working to advance its own expertise in the field. AI’s integration with blockchain technology has advanced innovation thus giving AI tokens an increased scope for further growth.
Several leading crypto community members have endorsed the integration of AI with blockchain technology. Ethereum co-founder, Vitalik Buterin has often endorsed the bridging of both sectors that could pave the way for enhanced innovation and foster technical growth.
Disclaimer: The above article curated is for informational and educational purposes only, and is not to be construed as investment advice. TheNewsCrypto advises readers to conduct their own research before investing or making any decisions.