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Why are AI cryptocurrencies gaining massive momentum?


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Overtime, the world has been graced with a lot of powerful innovations. One of such innovations is Artificial Intelligence (AI). Today, everyone is talking about this innovation and its potential to transform the realities in many industries, including the crypto sphere. No wonder, some crypto projects that are currently springing up in the industry are mostly AI-focused. It is remarkable to note that these crypto assets operate as the native tokens of their respective AI blockchain networks. They power and coordinate the economic activities of these networks. More so, the tokens allow users to access the artificial intelligence services offered by these protocols, thereby aiding users’ experience. They serve as a means of raising funds for the project, giving rewards and sustaining a community of users. It is worthy of note that AI tokens share the same features with other cryptocurrencies. They are decentralized, tradable and highly volatile.

Are AI tokens impacted by general market trends?

AI cryptocurrencies are usually impacted by the trends in the broader crypto market. Just in recent times, the tokens responded to the significant BTC price movement that unfolded amid the crash of top US banks. Recall that the fall of these banks, particularly Silvergate, Silicon Valley bank and Signature made investors to suddenly move their investments into crypto. Following this development, the largest crypto by market cap began to witness a significant price rally particularly between March 10 to March 20. Although AI tokens didn’t respond to this rally in a uniform way. While the likes of RNDR, AGIX recorded over 40% rise, others even recorded less. But, one thing has been established. This is the fact that AI tokens are vulnerable to the trends in the general market.

ChatGPT and how its success triggered the hype around AI cryptocurrencies

No doubt, AI tokens are currently gaining massive momentum in the crypto market. The genesis of this could be traced to the launch of ChatGPT, an AI-based project, developed by Francisco–based OpenAI. This innovation is designed to feature language translation, text generation, language modeling and more. The project was launched in November 2022, and before the end of December, it has been able to gather more than a million user base. In January, OpenAI raised $10 million from Microsoft to cater for the development and advancement of its project research.

It is noteworthy that the explosive trend of ChatGPT gave rise to the increasing interest in every AI-focused services. Recently, JP Morgan conducted a survey which involved 835 institutional traders in 6 global markets. The findings revealed that the sentiment of these investors to AI projects have improved from 25% to 53%. According to the survey, some aspects of the innovation that witnessed growing interest include AI integration, blockchain and AI cryptocurrencies.

Certainly, AI cryptocurrencies have continued to outperform others in the market. Since January, some notable tokens like GRT, SingularityNET, Render began to see green in spite of the general market conditions. This development thus indicates how the success of ChatGPT triggered the interest in AI projects, particularly by institutional investors.

Top Ten (10) AI tokens

Worth mentioning that under this category, top ten tokens with the highest market cap and trading volume will be reviewed. The AI tokens market cap as of March 27, 2023, is worth about 5.3 billion according to Coinmarketcap. The top ten (10) AI tokens contributed to more than 60% to this course. Also, the review will look into how these coins have reacted to the recent attention their market has enjoyed of late.

10. SURE

SURE is a native coin InSure DeFi platform. As at March 27, 2023, the token is enjoying a market cap of $211,569,104 alongside a trading volume of 2.7 billion in the last 24 hours from the aforementioned date. InSure DeFi is a community-oriented crypto insurance ecosystem. The platform provides insurance cover for users’ assets through the purchase of its native coin, SURE. InSure DeFi protects users’ assets’ by spreading their ownership risks between a liquidity pool. The platform’s insurance premiums are determined by a dynamic price model supported by Chainlink.

Additionally, the risks are backed by capital that’s determined by the community demand for insurance of crypto portfolio and the market pricing of SURE coins. In maintaining the protocol against fraudulent insurance claims, the protocol leverages its DAO. Made up of community members with a sizeable amount of SURE in their portfolio, the DAO monitors claims by voting to determine malicious and valid claims. As of press time, SURE is trading at $0.007973 which is a 348% price increase since the start of the year.


TRAC is a native coin to OriginTrail which is an ecosystem that is committed to making the global economy function sustainably through the management of humans’ valuable knowledge assets. It unifies physical enterprises like healthcare, education, e-commerce, and fashion with virtual worlds like Metaverse, NFTs, Blockchain, and Smart Contracts. The protocol facilities this in a single connected reality to ensure trust and transparency. However, the project achieves this by leveraging open source Decentralized Knowledge Graph.

More so, the native coin of this project has a market cap of $140 million, alongside a trading volume of $1.3 million in the last 24 hours. Presently, the coin is worth $0.3843 which amounts to a 142% surge since the turn of the year.

8. RLC

iExec utilizes RLC as its native coin. The platform is a prominent provider of blockchain-oriented decentralized computing. Accordingly, iExec supports users to monetize their computing power, applications, and datasets. The platform is relevant in notable sectors like data management, fintech, AI, and healthcare. Presently, trading at $1.79, RLC reacted to the attention on AI tokens by surging by 49%. The coin has a market cap valued at $145 million.

Other AI Tokens in the top 10


OCEAN is the utility token of the Ocean Protocol. The platform uses the coin for community governance and staking on data. Also, users can trade the token on the platform’s market. Meanwhile, the platform is a blockchain-based network that supports users to unlock the worth of their data and monetize it. At the moment, OCEAN is trading at $0.3503; a 114% increase since the growing relevance of AI tokens. Likewise, the market cap of the coin is worth $214 million.

6. INJ

INJ serves as the native utility coin to the Injective network. The platform utilizes INJ for its protocol governance, staking, developer incentives, dApp value capture, and Tendermint-based (PoS) security. Meanwhile, the Injective network avails unique plug-and-play financial infrastructure primitives. These include decentralized bridges, oracles, and on-chain decentralized exchange infrastructure. The INJ token has a market cap worth $290 million and the coin has surged by 212% since the start of 2023. Thus, the token is trading at $3.97.

5. FET

FET is vital to smart contracts and oracles to Fetch.ai. On the platform, the token aids in finding, creating, deploying, and virtual connections. More so, the coin serves as a means of exchange with the Fetch.ai ecosystem. The coin enjoyed a notable price rally since the beginning of 2023. This rally has seen the token soar by 148% within the review period. Presently trading at $0.3675, the AI token has a market cap worth $300 million.


ROSE is a utility token to the Oasis network which is a privacy-oriented layer-1 blockchain that facilitates high throughput, security, and low transaction charges in offering an innovative base for Web3, GameFi, NFT, Metaverse, DeFi, and many more. Within the review period, ROSE has enjoyed a price increase of 63% as its presently trading at $0.05662. The token’s market cap is worth about $324 million.


RNDR is essential to the RENDER network because Artists use the token as a primary means of exchange for computing power from node operators. Node operators on this network are GPU distributors. Currently, RNDR’s market cap worth about $435 million and its trading at $1.20. Within the review period, the AI token has surged by 198%.


AGIX is presently ranked 2nd as the AI token with the largest market cap. The market cap of this AI token is worth about $519 billion. Within the review period, AGIX has soared by 848%, establishing it as one of the top performing AI tokens. Presently, the coin is trading at $0.4313. Worth mentioning that, the SingularityNET marketplace utilizes AGIX to help users to surf, test and acquire AI services on the platform. SingularityNET is a blockchain-based platform that assists users in developing, sharing, and monetizing AI services via its Marketplace.

Leading AI token; GRT

GRT, the native coin to The Graph is topping this list for its gigantic market cap. At the moment, the AI token has a market cap worth $1.2 billion and it is trading at $0.1401. This value represents a 151% increase since the start of the year. Meanwhile, The Graph can be regarded as the search engine of blockchain. Many understand the platform to be the Google of Web3. The Graph is s an Indexing protocol for querying data for Ethereum, POA, and IPFS.

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Olaleye Komolafe
Olaleye Komolafe
Olaleye is a professional reporter with vast experience in web3, cryptocurrencies, and NFT journalism. He enjoys writing about the evolving metaverse sphere and the prevalence in the crypto sphere. Notably, some of his contents have been published in numerous international publications. Away from the crypto world, Olaleye is a political scientist and a lover of football

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