- Some blockchain-based companies are starting to incorporate AI.
- With the rise of AI, the market shares of these companies, as well as the price of their affiliated cryptocurrencies are expected to rise
- The AI cryptos to look out for in May are AiDoge, Synthetix (SNX), The Graph (GRT), Oasis (ROSE) and AGIX
AI is one of the fields of technology that is developing quickly and is garnering a lot of attention from Investors and enthusiasts alike.
AI has enormous potential to be used in a variety of businesses, including Medicine, space travel/exploration and education, among other fields.
But what happens when AI is combined with Blockchain technology?
It turns out that this has already happened, and a rising number of vprojects have surfaced in recent years that utilize AI in some way.
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In this article, we examine in further detail the top AI cryptocurrency currencies that you should be aware of for possible investment in May 2023.
Here are some of them:
One of the hottest AI cryptocurrency projects at the moment is AiDoge (Ai), an AI coin built on Arbitrum.
For starters, it combines memes and AI, two of the trendiest cryptocurrency subsectors right now. Despite the recent explosion of many coins in both of these markets, none of them offers the potential that AiDoge does.
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AiDoge is the best AI meme platform. It contributes to the importance of interesting, current material in the crypto realm, addressing a critical demand in the world today. Memes are a potent tool for interaction and communication today, and AiDoge revolutionizes this generation by utilizing AI to enable users to produce high-quality, timely, and relevant memes.
According to reports on CoinMarketCap, on April 31, AIDoge hit 269 million in daily transaction volume to become the leading meme coin.
When you choose the Memes Token's Volume (24h) on @CoinMarketCap. https://t.co/EDs7jG0U9P pic.twitter.com/WOQyIQtO4v
— ArbDoge AI (@ArbDogeAI) April 30, 2023
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Additionally, trade volumes for the new meme coin exceeded Dogecoin’s $256 million.
Oasis is a layer 1 blockchain that emphasizes scalability and privacy. This indicates that it’s intended to enable developers to create applications that place a high priority on privacy.
The fact that Oasis isolates the consensus mechanism process from the smart contract execution process is one of its important advantages. This contributes to the development of a secure architecture with high throughput and reasonable costs.
By offering an infrastructure that can grow apps fast, Oasis’ main objective is to support the many Web 3 applications.
The Oasis network provides a native coin called ROSE that may be used for staking, transaction fees, and governance to achieve this. ROSE is now trading at about $0.06281 and has a $359 million market value.
The Graph (GRT)
The Graph is an indexing protocol that is used to query networks like IPFS and Ethereum. Using The Graph, anyone can create and publish open APIs, known as subgraphs, making data easily accessible.
The project’s ultimate objective is to make it possible for developers to quickly search for this data without relying on centralized middlemen.
All of this is performed via AI, which aids in process optimization and increases accuracy.
GRT has been garnering a lot of attention as of late and is certainly worth keeping an eye out for in May.
At the time of writing, the cryptocurrency trades at $0.13 and is ranked 42nd on CoinMarketCap.
With the Synthetix protocol, users can mint new crypto assets that imitate both traditional financial instruments (like the U.S. dollar) and digital ones (like Bitcoin).
Synthetix can create these new assets through a procedure known as collateralization.
Users must buy Synthetix’s SNX cryptocurrency to collateralize an asset on the platform. Once locked in a unique contract, SNX may then be used to create these new assets or synthesizers.
One synth, dubbed sUSD, for instance, is made to simulate the price of the US dollar. sBTC is a different synth that replicates the price of a Bitcoin. Nevertheless, synths can be made for any asset, whether it be a physical good like gold or silver or a digital currency like the euro or Korean won.
The value of other assets may then be tracked by synths using specialized data feeds known as oracles, which provide users exposure to profits or losses in those markets.
According to the information that is currently accessible, Synthetix is one of the DeFi projects with the largest value locked in its contracts as of August 2020, with over $800 million locked in its contracts.
At the time of writing, the current Synthetix price is $2.46 with a $25,846,584 24-hour trading volume according to CoinMarketCap.
SingularityNET (AGIX) is a new AI network that enables programmers to exchange different services and AI-based algorithms. In other words, it serves as a market for all AI-related services.
Developers, companies, and academics may now easily access AI services that they might employ to enhance their own goods and services.
This specific token has recently generated a lot of buzz and has grown in popularity.
At the time of writing, AGIX is trading for about $0.3537 and has a market valuation of over $429 million.
The maximum number of AGIX tokens available is 2 billion, and there are presently only about 1.2 billion of them in circulation.
This means that the token is about to become extremely scarce, as its value rises.
AGIX is definitely a cryptocurrency to keep an eye out for in May.
All of the cryptocurrencies listed above have been good investments before May, and will likely be good investments after. However, it is important to do your own research before putting money into investments of any form.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.