5 AI-Based Cryptos Set To Explode After Nvidia (NVDA) Stock Split - July 2024

As a researcher with a background in technology and finance, I believe that Nvidia’s stock split and the resulting surge of interest from investors is a strong indication of the growing demand for AI technologies and computer chips. This trend is likely to extend to the crypto industry as well, particularly in the subsector of AI-based cryptocurrencies.

Following Nvidia’s stock split, there’s been a significant increase in investor enthusiasm towards AI-focused cryptocurrencies, as many anticipate their prices to rise. A stock split essentially increases the number of available shares while reducing their individual value due to heightened market interest and a company’s growing popularity. The renewed attention on Nvidia stems from the burgeoning demand for computer chips, leading the company to respond accordingly. This development could potentially have ripple effects within the crypto industry.

Based on information from CoinGecko, approximately 170 cryptocurrencies are classified as AI-related. With such a large number of options, it can be difficult to choose the ideal one for investment. Nevertheless, considering the following five AI-focused cryptocurrencies could potentially increase your portfolio value significantly, even reaching six figures.

1. AI-Based Cryptos – Bittensor (TAO)

Bittensor is an open-source system designed to enable collaborative machine learning (ML) model development. ML innovators are remunerated in TAO tokens in accordance with the worth of their contributed data. As a result, the protocol transforms into a substantial database, accessible to external users for a fee to extract information.

At the moment, the cost of a TAO token is $331, as reported currently. The trading volume has experienced a significant surge of 60% in the past 24 hours, demonstrating heightened market interest in this asset. With a substantial market capitalization of $2.3 billion, TAO stands out as an influential player within the industry. Having emerged from humble beginnings, it has established a strong reputation. With a limited total supply of just 21 million tokens priced at $330 each, TAO represents a promising AI-driven crypto poised for growth.

2. Fetch.ai (FET)

As a crypto investor, I would describe Fetch.ai as an open-source project where I can build AI applications and services. The native token of this platform is called FET, which I can easily obtain on Binance Smart Chain (BSC), Osmosis, or Ethereum networks.

At present, the FET price remains stable at approximately $1.65, while its market capitalization amounts to around $4.16 billion. Over the past four years, this digital asset has experienced a remarkable surge of over 201 times from its all-time low. Moreover, today’s trading volume has witnessed a substantial increase by roughly 50%, reflecting heightened investor interest and market engagement.

As a researcher studying the cryptocurrency market, I can share that on June 11, there will be a significant merge among Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN). These three tokens will cease to exist individually, making way for a new token named Artificial Super Intelligence (ASI). Starting from this date, ASI will commence trading in the marketplace with an estimated market capitalization of $7.5 billion.

3. Render (RNDR)

As a analyst, I would describe it this way: I serve as a top analyst for The Render Network, which is recognized as the premier platform for decentralized GPU rendering solutions. Through our advanced technology, I facilitate connections between node operators and artists, allowing these operators to contribute their powerful GPUs to the cloud marketplace in exchange for payment.

Apple’s fleeting mention of Octane, a 3D design software on the Render Network, has ignited a relentless rally for RENDER token. Currently priced at $8.34, RENDER represents a staggering 226-fold price increase since its rock-bottom value four years ago. The daily trading volume has surged by an impressive 137%, indicative of heightened investor attention. With a market capitalization of $3.3 billion, RNDR emerges as one of the most promising AI-driven cryptocurrencies poised for monumental growth in 2024.

4. Near Protocol (NEAR)

Near is a proof-of-stake blockchain that provides a platform for developing decentralized applications (dApps). This Layer 1 blockchain also boasts overcoming the blockchain trilemma through its sharding technique, called Nightshade.

As a market analyst, I’ve observed that NEAR‘s price remained relatively stable around $6.23 at the present moment, accompanied by a market capitalization of approximately $6.7 billion. The daily trading volume experienced a significant surge of nearly 32%, indicating a notable increase in investor engagement. For those who invested early in NEAR, their returns have multiplied up to ten times since the crypto reached its all-time low three years ago.

Near is solidifying its position as a leader in the AI and scalable blockchain sectors, catching the attention of Grayscale. Just a fortnight ago, the massive financial institution launched the Grayscale Near Trust, dedicated solely to investing in NEAR. By approaching the market on several fronts and narratives, Near places itself as one of the safest AI-based cryptos to explode in the next bull run.

5. Graph Protocol (GRT)

As a data analyst, I would describe The Graph as follows: I work with The Graph, which functions as an indexing protocol and global application programming interface (API) for organizing data on the blockchain. With the use of GraphQL, a customized query language, I can build powerful tools to access and make sense of this structured blockchain data. Essentially, The Graph serves as the search engine for blockchains.

As a trailblazer in the blockchain industry, The Graph’s value has surged past $2.3 billion. At the current moment, the price of GRT hovers around $0.25. This represents a significant increase of over 3.8 times since its rock-bottom price from last year. Moreover, daily trading volume has risen by 12%, indicating growing investor attention towards this AI-driven cryptocurrency asset. The Graph enters the market through various narratives such as AI and DeFi, making it a strong contender for growth. With Nvidia continuing to expand, the potential for The Graph to burst is high.

Conclusion

As a crypto investor, I believe Nvidia’s success is a clear sign of growing demand for computer chips. This trend also points towards an escalating development of AI technology. With increasing interest in NVDA stock comes an expected surge in demand for AI-focused cryptocurrencies. While there are already several options available, the bull market has yet to reach its full potential, making it an opportune time to explore and invest in more AI-centric crypto projects.

2024-06-11 12:38