If you’re looking to ride the next big wave in crypto, you’d be wise to keep a close eye on the AI crypto revolution that’s been unfolding. While Bitcoin (BTC-USD) continues reigning as the crypto king, AI cryptos to buy have been the real rockstars of this latest bull run, outperforming the broader market by leaps and bounds.
Their meteoric rise shouldn’t come as a surprise though. As I predicted back in January 2023, the unprecedented AI boom sweeping across traditional sectors like tech and finance was bound to spill over into the crypto space. Big Tech was already reporting surging demand for data centers and AI computing power – the perfect catalyst for blockchain-based AI projects to thrive.
We’ve seen this play out with cryptos like Render (RNDR-USD), which I highlighted when it was trading for peanuts around $1.3. Fast forward a few months after OpenAI unveiled its game-changing Sora text-to-video model, and Render has skyrocketed.
That said, the relentless rally has taken a breather lately as investors catch their breath. But is this a blip on the radar or a warning sign to cash out? For those with the stomach for volatility and the vision to see the forest through the trees, AI cryptos could still be a golden ticket to retiring a millionaire by 2024 if you buy the dips wisely. Here are seven AI cryptos to buy.
Solidus AI (AITECH-USD)
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Solidus AI (AITECH-USD) went parabolic in March but has cooled down significantly since then. However, I still believe it has significant upside potential as it checks all the boxes of being one of the premier AI cryptos. Solidus has successfully constructed an “environmentally conscious, state-of-the-art High-Performance Computing (HPC) Data Centre spanning over 8,000 square feet in a highly secure European location.” AITECH is supposed to serve as a payment gateway for licensing Artificial Intelligence as a Service (AIaaS), Blockchain as a Service (BaaS), and accessing HPC resources via their Infrastructure as a Service (IaaS) platform. It’s one of those AI cryptos to buy.
I believe this physical presence will allow AITECH to continue growing and delivering significant returns. Remember, most AI cryptos right now are appreciating due to the hype surrounding them and the broader sector – their use cases have not seen any meaningful adoption yet. So, having a tangible data center like Solidus AI can fuel that hype significantly. With a market cap of just $132 million, I see a huge upside ahead for AITECH if the AI crypto rally continues its torrid pace.
Node AI (GPU-USD)
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Node AI (GPU-USD) is a much newer entrant to the AI crypto scene, having only listed on CoinMarketCap in February. Despite its $223 million market cap, GPU has been surprisingly stable and consistent compared to most other speculative AI projects. Still, it’s already up a staggering 3,611% since its debut and has appreciated over 168% in just the past month alone. I wouldn’t be surprised to see this token reach a $1 billion market cap or higher, given the insatiable demand for AI and GPU resources.
Node AI is a decentralized platform that provides access to GPU and AI resources, using blockchain technology to create a secure and transparent environment for users. It’s very similar in concept to the Render Network but seems more tailored specifically for AI purposes. Node AI also offers AI servers on an hourly basis, catering to users with occasional AI processing needs and ensuring optimal resource utilization. Not only that, but it has APIs for various AI applications like image and video processing, facilitating easy integration into different systems. GPU lending capabilities akin to Render’s model round out the platform’s utility. All things considered, GPU is a dark horse to watch among AI cryptos to buy.
Nettensor (NAO-USD)
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This project has garnered a bit of controversy due to the FUD (fear, uncertainty, and doubt) surrounding it – though that’s pretty par for the course in the crypto world. Nettensor (NAO-USD) currently has a modest $17 million market cap, but I would keep the risk factor in mind here since many have questioned the validity of the crypto’s audit. Its metrics on CoinMarketCap are also self-reported, including an eyebrow-raising 100% circulating supply. You’d be hard-pressed to find any legitimate crypto AI startup with zero token dilution, so that statistic is certainly surprising for NAO.
Regardless, if you’re willing to throw some fun money at a speculative moonshot, the hype alone could drive NAO much higher from here. It does seem to offer plenty of utility too. Nettensor is a leading AI service provider with offerings that go beyond just the basics. Its NetCloud service in particular delivers cloud services to help AI infrastructure run smoothly. Basic services like hosting, Virtual Private Server (VPS) deployment, Remote Desktop Protocol (RDP), and domain management constitute the core of what Nettensor needs to thrive in the dynamic Infrastructure AI environment. Speaking of hosting, it’s crucial to ensure computational resources are available and optimized for advanced AI workloads and complex computations. It’s one of those AI cryptos to buy.
While certainly a higher-risk play, Nettensor’s diverse AI service offerings could strike a chord with speculators looking to capitalize on the AI crypto craze.
PAAL AI (PAAL-USD)
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PAAL AI (PAAL-USD) has been focused on creating the blockchain version of ChatGPT, and there are quite a few advantages to having such a decentralized AI model. While the current centralized models have restrictions and censorship in place – which I view as a net positive overall – there are still pros to having an open-source, decentralized alternative out there. PAAL facilitates the creation and deployment of personalized AI assistants across various platforms like Telegram or Discord. Moreover, it extends its services to cater to larger businesses and projects, gaining recognition particularly for its Ethereum (ETH-USD) AI chatbot solution.
At a $500 million valuation, PAAL is one of the bigger fish in the AI crypto pond. But I still think it has significant upside left to run. A decentralized ChatGPT-like model could be game-changing, especially as AI continues going mainstream. And with PAAL being an early mover in this space, it’s well-positioned to capitalize on this burgeoning trend. For risk-tolerant investors, PAAL could be an intriguing way to get in on the ground floor of blockchain-based AI.
OpenFabric (OFN-USD)
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Rather than focusing on a single AI product, OpenFabric (OFN-USD) is trying to create an entire decentralized AI ecosystem – and it seems to be gaining some solid traction so far. There’s a steady stream of new partnerships being announced, suggesting OpenFabric’s open-source approach is resonating with developers. At a mere $27 million market cap, OFN is one of the smaller AI crypto projects out there that I believe could easily deliver multibagger returns going forward as adoption grows.
The key selling point is OpenFabric’s modular infrastructure which allows developers to build and integrate AI into virtually any application. Its toolbox includes a studio, sandbox, algorithms, and even a virtual machine tailored for AI workloads. While still in its early innings, OpenFabric’s vision of democratizing AI development on the blockchain is an ambitious one that could pay off handsomely for early investors if it gains more recognition.
Octavia (VIA-USD)
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Octavia (VIA-USD) is taking a rather unique approach in the AI crypto space. It aims to create an AI trading bot that can automate crypto trading strategies using machine learning. You could essentially program Octavia’s bot with your desired parameters, and it would automatically execute buy/sell orders on your behalf based on its data analysis. I believe this niche use case for applying AI to directly facilitate crypto trading activities is a promising one with significant growth potential.
Admittedly, Octavia’s tokenomics could use some improvement, with token dilution expected in future years. However, if Octavia continues gaining traction among crypto investors and traders, I foresee its modest $10 million market cap ballooning well over $100 million. The project remains relatively under the radar for now, giving savvy investors a chance to get in early before the hype train potentially leaves the station.
Tatsu (TAT-USD)
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Tatsu (TAT-USD) is an emerging player merging machine learning with decentralization to enable advanced application development. After going through a correction in late March, the crypto has been trading sideways. It is working on creating an open ecosystem for developers to collectively build and profit from the rapid growth we’re seeing in machine learning and AI. It’s also closely tied to Bittensor (TAO-USD), another hot AI crypto that has spiked from around $50 to over $580 since last October amid the speculative frenzy.
Tatsu’s upside potential could be immense if it’s able to ride the same AI tailwinds that drove Bittensor. Timing will be critical, but the payoff could be life-changing for those with the conviction to hold through the inevitable dips. This make it one of those AI cryptos to buy.
On Low-Capitalization and Low-Volume Cryptocurrencies: InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on LinkedIn.