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These 3 AI crypto tokens are up 132% or more this year

Published

2 months ago

15 May, 2024

These 3 AI crypto tokens are up 132% or more this year

Bitcoin (CRYPTO: BTC) may have stalled in the $60,000 to $65,000 range, but cryptocurrency investors can still find opportunities. Some newer crypto tokens with artificial intelligence (AI) connections are still vibrant, and some of them are up more than 132% during the year.

One of the main reasons for this was the enormous enthusiasm around the artificial intelligence investment thesis. The same way they have embraced equity investors Nvidia (NASDAQ: NVDA), cryptocurrency investors are now embracing new crypto tokens that they believe could benefit the most from artificial intelligence. With that in mind, here’s a closer look at three of the most popular AI crypto tokens that have seen the biggest increases lately.

Render

Probably, the most popular AI crypto token is Render (CRYPTO: RNDR) — is up 132% for the year. With a total market capitalization of $4.5 billion, Render now ranks among the top 25 cryptocurrencies. Given its recent rise, some investors now refer to Render as “the Nvidia of cryptocurrencies.” As you might have guessed from the name, Render offers GPU-based rendering solutions for studios, artists, and creators.

But that’s not why cryptocurrency investors are so excited about Render. The thought now is that the same should be decentralized GPU computing power used for rendering can also be used for artificial intelligence. If you want to train a large language model (LLM), for example, you’ll need a lot of “GPU compute,” which is the raw computing power required for modern AI solutions.

So it’s easy to see why Render’s performance is starting to look a lot like that of Nvidia (which has become almost synonymous with all things AI). Nvidia is the ultimate source of all that GPU-based computing power, whether it’s used for rendering or AI.

Recover.ai

Recover.ai (CRYPTO:FET) is up a staggering 208% for the year and now ranks among the top 50 cryptocurrencies by market capitalization. Fetch.ai is building what it calls an “open, permissionless, decentralized machine learning network with a crypto economy.” It’s a long sentence, but it simply means that Fetch.ai is a new platform for artificial intelligence products and services. This includes large datasets for training LLMs and sophisticated AI robots known as agents.

The way you pay for these AI products and services is with the Fetch.ai token. You can think of Fetch.ai as a digital currency for the emerging AI economy. Therefore, the greater the demand for everything related to artificial intelligence, the greater the demand for the Fetch.ai token.

AI computer chip.

Image source: Getty Images.

While there is obviously some demand for AI at the consumer level (who hasn’t played with AI chatbots?), the real demand will come from companies looking to undergo AI-related transformations. This is where Nvidia comes in because these companies often use Nvidia products for new AI-related projects.

The story continues

According to Fetch.ai, the biggest growth opportunities are found in sectors such as logistics, transportation and smart energy grids. As evidence of its growing focus on the sector, Fetch.ai recently partnered with German companies Bosch AND Deutsche Telekom on an AI platform.

Since 2017, Bosch has been collaborating with Nvidia on AI-powered self-driving cars, so this may be just one example of an area where Fetch.ai gets a huge boost. In the past, Deutsche Telekom has collaborated with Nvidia on “smart city” concepts, so this could be another area.

SingularityNET

Finally there is SingularityNET (CRYPTO: AGIX), up 193% year-over-year. It now ranks among the top 75 cryptocurrencies, with a market capitalization of $1.2 billion. However, since it is not available for trading on popular cryptocurrency exchanges like Global Coinbase (NASDAQ: COIN), may not be suitable for all cryptocurrency investors.

In terms of overall AI strategy, SingularityNET is hitting it out of the park. It is pushing forward the idea of artificial general intelligence (AGI), which is leaps and bounds ahead of the current version of AI, known as generative AI (better known as the variety that includes ChatGPT).

Indeed, according to futurists like Ray Kurzweil (now of Google), AGI implies a future in which a single computer is smarter than all humans combined. It will have access to all human knowledge ever created and, as a result, will be able to create truly innovative solutions. To power that level of AI, you’ll likely need a lot of Nvidia GPUs.

What is the future of AI crypto tokens?

As long as Nvidia’s stock performance continues to impress, it’s safe to say that investors will be on the lookout for crypto tokens that will most likely benefit from the excitement around artificial intelligence. For investors who think that Nvidia is the only AI stock they need to own, then it makes sense to also focus on AI crypto tokens with indirect or direct ties to Nvidia.

However, keep in mind that AI is still a relatively new industry and that trends can come and go. Many companies claim to be “the next Nvidia,” so the AI investment thesis will likely change and evolve over time. For now, however, the three crypto tokens highlighted above appear to be doing the best job of taking advantage of the new excitement around artificial intelligence.

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Domenico Basulto has positions in Bitcoin and Fetch. The Motley Fool has positions and recommends Bitcoin, Coinbase Global, Fetch, Nvidia and Render Token. The Motley Fool has a disclosure policy.

Thanks, Nvidia: These 3 AI Crypto Tokens Are Up 132% Or More This Year was originally published by The Motley Fool

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Meme Tokens Surpass Bitcoin in Turkish Trading Activity This Year

Published

3 hours ago

27 July, 2024

TokenTalk Staff

Meme Tokens Surpass Bitcoin in Turkish Trading Activity This Year

The Turkish cryptocurrency market has seen significant growth in recent years. Currently, more than half of the population invests in cryptocurrencies, according to surveys and polls.

This is evident from the fact that the Turkish Lira (TRY) is the fourth most used fiat currency in cryptocurrencies. Several macroeconomic factors are fueling this crypto adoption in the country. Therefore, stablecoins and meme coins have emerged as the favorites of Turkish investors, even surpassing Bitcoin.

Stablecoins and meme coins dominate Turkish trade

According to the latest relationship According to Kaiko, Turkey’s inflationary conditions have significantly increased stablecoin usage in recent years. In 2024, the research firm found that USDT-TRY dominates as the largest trading pair by volume on Binance, reaching over $22 billion, more than five times larger than the next largest pair, PEPE-USDT, which has $4 billion.

Notably, meme tokens have surpassed Bitcoin in terms of trading volume this year, indicating that Turkish traders are also turning to more speculative cryptocurrencies to hedge against currency fluctuations and make profits.

The increased usage of stablecoins is further reflected in the main Bitcoin trading pairs on BTCTurk, which are BTC-USDT and BTC-TRY.

One of the main reasons driving the adoption of cryptocurrencies is Turkey’s fight against double-digit inflation and the currency devaluation for years, with an average inflation rate above 40% over the past five years. In response, the central bank adopted an unorthodox monetary policy, cutting rates until June 2023. However, this worsened the devaluation of the Turkish lira, which lost more than 300% of its value from the end of 2020 to the end of 2023.

Turkey’s decision to normalize its monetary policy after the 2023 elections failed to restore confidence in the TRY, whose value continued to decline in 2024, albeit less rapidly.

Binance Sees Strong Expansion in Türkiye

Amid economic challenges, Binance has strengthened its position as one of the two largest trading platforms for Turkish traders, thanks to deep liquidity and low fees. As part of a large-scale zero-fee campaign, it offered zero fees for BTC-TRY trading between July 2022 and March 2023.

Offering a wide range of TRY-denominated trading pairs and aggressively adding new pairs in recent years have helped Binance maintain its leadership in the country despite the 2022 cryptocurrency bear market. Binance introduced 61 new TRY trading pairs in 2024 alone, bringing the total number to over 200.

Other exchanges, such as Gate.io, KuCoin, and OKX, have jumped into the Turkish crypto ecosystem, but their overall market share remains less than 1%.

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News

Top 5 PolitiFi Tokens to Buy Now for MAX Profits

Published

4 hours ago

27 July, 2024

TokenTalk Staff

Coinpedia - Fintech & Cryptocurreny News Media

With the US presidential election fast approaching, the cryptocurrency world is buzzing with new trends. In addition to the well-known cartoon-themed meme coins, a new category is making waves: PolitiFi tokens. Did you see that coming?

These politically themed crypto tokens are gaining attention, especially those centered around former President Donald Trump. Today, we explore the 5 trending Trump-themed PolitiFi tokens.

Stock up to benefit later!

1. Trump (Magazine)

Launched about a year ago, the Trump-themed MAGA token has caused quite a stir in the cryptocurrency ecosystem. Inspired by Donald Trump’s slogan “Make America Great Again,” the MAGA token has produced an astonishing 35 million percent return since its inception. Currently trading at $5.65, it has fallen 8.80 percent in the past 24 hours.

Despite this, the token’s trading volume increased by 23.23%, bringing its market cap to $248 million and securing the 220th spot on CoinMarketCap.

Source: Dexscreener

2. MAGA (MAGA)

Another token with the same ticker, MAGA, is also trending in the PolitiFi category. With 390 billion tokens in circulation, this MAGA token has seen a 11.08% price drop over the past 24 hours, but an 81.39% increase in trading volume. Currently trading at $0.0001337, it is ranked 21st on Dexscreener’s trending list and 522nd on CoinMarketCap. Despite being only two months old, it has provided early adopters with a remarkable profit of 313,373.62% at its all-time high of $0.0007354.

Source: Dexscreener

3. Super Trump Coin (STRUMP)

Super Trump Coin, a meme token depicting Donald Trump as Superman, has a circulating supply of 1.8 billion tokens. Over the past 24 hours, its trading volume has increased by 39.88%. Currently trading at $0.01112, it has dropped by 6.07% over the past 24 hours, but holds a CoinMarketCap rating of 776. From its all-time high of $0.03085, it has dropped by 64.06%. Despite this, its impressive short-term returns have made it a favorite among Trump crypto enthusiasts.

Source: Dexscreener

4. MAGA Vice President (MVP)

Launched just four months ago, MAGA VP has yet to break into the top 1000 cryptocurrencies on CoinMarketCap, currently ranked 1231st. With a value of $0.128, its trading volume has increased by 21.79% over the past 24 hours, with a market cap of $5.3 million. While it is up 110% at its current price, it is down 83.24% from its all-time high of $0.7706.

Source: Dexscreener

5. Little Trump

One of the most unique Trump-themed tokens is Baby Trump, which depicts Donald Trump as a baby president. With a circulating supply of 406 million tokens, it has a market cap of $3.5 million at a trading price of $0.008616. Although its price has dropped 9.45% in the last 24 hours, its trading volume has increased by 4.29%. At its peak, Baby Trump’s market cap was $11 million.

Notably, Baby Trump is the only token among the five analyzed to be based on the BNB Smart Chain, while the others are based on the Ethereum network.

Source: Dexscreener

It’s an exciting time for cryptocurrencies

The current political climate in the United States is spawning a new wave of meme tokens themed around various political figures. Among them, Trump-themed PolitiFi tokens are experiencing the most significant surge in popularity. Support for Donald Trump in the crypto community seems to be a driving force behind the success of these tokens.

Do you think Trump-themed PolitiFi tokens are here to stay or just a passing trend? Share your thoughts.

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News

Brett Token Price Soars 12%; Analyst Expects Further 30% Upside

Published

5 hours ago

27 July, 2024

TokenTalk Staff

Eight altcoins rally 10+% as volatility swings market

Brett, the largest meme coin in Blockchain Base, rose more than 12% on Friday, as sentiment in the cryptocurrency and stock sectors improved.

Brett (BRETT) the token rose to $0.133, up 31% from its low this month. Some traders believe the meme coin has more upside potential in the future.

Analyst is bullish on Brett

In an X-post, Michael van de Poppe, a trader with over 721,000 followers, said he is optimistic that the token will rise to $0.1712, up 30% from Friday’s trading level.

I’ve been a day trader for a long time and memes are a great way to gain that perspective.

Lots of volume.
And there’s a lot of volatility.

When it comes to $BRETTI would look for long positions in this area between $0.125-0.1325 and $0.170 as a clear identification of a potential bull run. photo.twitter.com/hWmSjCZGJa

— Michaël van de Poppe (@CryptoMichNL) July 26, 2024

If he is right, Brett’s market cap will surpass Floki’s (FLOKI), which has a market capitalization of $1.7 billion.

Brett’s bounce came at the start of the Bitcoin 2024 conference today. In a statement at the event, Robert Kennedy, an independent presidential candidate, noted that he is a big supporter of Bitcoin (BTC).

The main protagonist of the event will be Donald Trump, leading in most polls, included in Polymarket. Trump is expected to reiterate his support for cryptocurrencies. Analysts are divided on whether he will announce a Bitcoin reserve at this event.

Blockchain Base is doing well

Brett token also recovered as Base blockchain ecosystems continued to perform well. Launched in 2023 by Coinbase, Base has accumulated over $1.6 billion in DeFi assets, making it the sixth largest chain in the industry. It has surpassed popular networks like Cardano (ADA), Avalanche (AVAILABLE) and Polygon (MATIC).

At the same time, Brett and other altcoins jumped as the U.S. stock market rebounded, signaling that investors have embraced risk-on sentiment. The Dow Jones Industrial Average rose more than 600 points, while the S&P 500 and Nasdaq 100 jumped more than 80 basis points.

Brett Price

Brett Price Chart | Source: Trading View

Technically, Brett formed a morning star pattern, which is a popular reversal sign. In the past, the coin has risen by double digits when it has formed this pattern. For example, it formed on July 12 and then rose by 40%.

On the other hand, this bounce could be a dead cat bounce, where an asset briefly rises and then resumes its downtrend.

Fuente

News

Top 5 PolitiFi Tokens to Buy Now for MAX Profits

Published

6 hours ago

27 July, 2024

TokenTalk Staff

These politically themed crypto tokens are gaining attention, especially those centered around former President Donald Trump. Today, we explore the 5 trending Trump-themed PolitiFi tokens.

Stock up to benefit later!