- The global AI market is expected to surge to over 41.2 Trillion by 2030, indicating potential in the sector.
- NEAR Protocol, Internet Computer, and Artificial Superintelligence Alliance are the three leading cryptocurrencies in the AI sector.
In today’s world, Artificial Intelligence is no longer a sci-fi concept. It is getting more realistic day by day. AI is being integrated into our daily lives, from virtual assistants to advanced algorithms.
According to market analysts, the global AI market is expected to surge from $207 Billion to over $1.2 Trillion by 2030. The hype is real; Artificial Intelligence is taking over the conversation. Hence, investors are nowadays more attracted to the AI cryptocurrency sector.
Per CoinMarketCap, NEAR, ICP, and ASI are the top three AI tokens to watch for September 2024.
NEAR Protocol (NEAR)
NEAR Protocol (NEAR) is the leading artificial intelligence cryptocurrency with a market capitalization of $4.09 Billion. It is a layer one blockchain that uses Nightshade technology to improve transaction throughput massively.
The token was designed to eliminate blockchain limitations like low transaction speed, low throughput, and poor interoperability.
Moreover, the daily chart highlighted the formation of a declining parallel channel pattern with the NEAR price hovering close to the channel’s lower boundary. The transaction volume has surged by 32.1% to $190.96 Million a day, suggesting heightened demand.
The long-term trend outlook is bearish at the moment. However, the price hovered near the demand zone of $3.5 level, from where some short-term buying may be triggered. Also, the price hovered near the channel’s lower boundary, where a short-term buying is likely.
On the higher side, the 50-day EMA at $4.45 may be a hurdle for buyers if a recovery is triggered from the low.
Internet Computer (ICP)
Internet Computer (ICP) runs on special computing devices called “node machines.” It can be used to create online systems or services without the need for traditional IT. With a market capitalization of $3.34 Billion, it ranks 2nd among the three AI tokens and 23rd in the crypto space.
Internet computer crypto highlighted a consolidation for the last week near the demand zone. The ICP price lags below all the key exponential moving averages, indicating a prevailing bearish trend.
A breakout of the consolidation may indicate the end of a correction phase. At the same time, a breakdown may suggest a bearish continuation.
The trading volume has surged by nearly 3.8% to $65.8 Million a day. Also, the volume-to-market cap ratio of 2.26% suggests low volatility.
Artificial Superintelligence Alliance (ASI)
Artificial Superintelligence Alliance (ASI) was formed by the collaboration of three individual AI tokens: Fetch.ai, SingularityNet, and Ocean Protocol.
It is a platform that combines AI, machine learning, and blockchain technology to create a decentralized network. It has a live market capitalization of $2.70 Billion and ranks 27th in the crypto-verse.
As evident from the daily chart, the long-term trend outlook is bearish, with some demand in the short term. The Bulls are attempting a recovery in the short term as the price has rebounded from the lower levels. The bears on the higher side have established their presence near the key 200-day EMA.
Now, a sustained move above the 200-day EMA at $1.38 would mark the end of a correction phase. When writing, both the RSI line and 14-day SMA line were placed in the upper half, i.e., above the mean line. It suggested a positive outlook in the short term.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.