Is It Too Late to Buy AI Coins? The Graph, Fetch.ai and Injective Blast Up and This Other Coin Could be Next
Anticipation in the crypto markets is escalating, especially as we approach the next Bitcoin halving in April and the rising popularity of AI coins.
The AI narrative is not a new phenomenon in the crypto market; Spring 2023 saw a breakout for Artificial Intelligence cryptocurrencies amidst a hysteria around new technologies such as ChatGPT and MidJourney.
Here’s a look at the top AI coins on the market today.
It’s clear that Crytpo x AI is the biggest narrative this cycle
But what isn’t clear is whether a decentralized product 1) has any defensibility 2) can outperform a centralized product for the next several years 3) if there’s any demand for an AI product that isn’t #1
— Tyler Reynolds (@tbr90) February 18, 2024
Fervor for AI and blockchain has sent major AI cryptocurrencies such as Fetch.AI (FET) and SingularityNet (AGIX) skyrocketing, and with similar sentiment emerging in the market this week, let’s dig into the price analysis of the top 4 alluring AI crypto plays.
When looking for the best plays in any given vertical, crypto investors need to balance different factors such as market position, tokenomics, market cap. size, and fundamentals to select the best cryptocurrencies.
Analysts have done the work for you – let’s have a look.
As the leading indexing and query project, The Graph Protocol and its utility token GRT are known as the ‘Google’ of blockchain, providing critical backbone infrastructure for cryptocurrencies across the industry.
Currently trading at a market price of $0.26 (representing a 24-hour change of +10%), GRT has hammered up to the top of the trading channel over the past week.
This comes as a magnificent +56% push off the 20DMA, which has provided GRT price action with a bullish pan-and-handle pattern
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