Bitcoin (BTC) has dominated conversations in the cryptocurrency space for the past five months after rumors started spreading that exchange-traded funds (ETFs) would be approved by the US Securities and Exchange Commission (SEC). 11 exchange-traded funds that satisfied its ETF acceptance criteria have now been launched, opening the way for trillions to flow into Bitcoin.
BTC prices have surged considerably since ETFs were launched. Prices initially dropped down to $39,000, but they’ve now passed $62,000 for the first time in over two years. BTC’s price is currently $7,000 away from its all-time high (ATH).
While investing in BTC ETFs is one of the hottest topics around, cryptocurrencies that are focused on artificial intelligence (AI) are projected to out-earn Bitcoin investments in 2024.
Best altcoins to invest in: Five AI coins you can’t afford to overlook
The artificial intelligence sector has enjoyed a surge of investor interest in recent years as it becomes evident that technology will reshape what our everyday lives look like. Total investments have gone from $12 billion to $120 billion since 2015, and $1.5 trillion is projected to enter the industry by 2030.
Here are the five top AI-focused altcoins that are predicted to enjoy exponential growth thanks to the fast-increasing capital streaming into artificial intelligence:
1. InQubeta (QUBE)
InQubeta is an emerging crypto that strives to make investments in AI open to everyone. It intends to rival mainstream investment channels that often come with requirements that bar a large portion of the global population from using their services.
It delivers a mutually beneficial ecosystem for AI startups and investors, providing a secure way for anyone to buy equity in firms that advance artificial intelligence.
AI startups secure the funding they seek by developing non-fungible tokens (NFTs) that offer rewards or equity. These tokens play similar roles to stocks. Investors use QUBE to invest in any startups they think have bright futures in the NFT marketplace. They can also trade their tokens with other investors there.
QUBE is now priced at $0.0245 as its presale enters its eighth stage after raising $10.5 million. Some analysts have QUBE prices going past the dollar mark once launched.
2. Injective (INJ)
Injective is now one of the top DeFi projects around thanks to the many decentralized finance services its network offers. It’s the perfect playing ground for cryptocurrency traders who prefer decentralized exchanges. Its prices have grown by over 930% in the past year. It’s expected to enjoy similar growth in 2024 thanks to its fast-growing user base.
3. Bittensor (TAO)
Bittensor runs an open-source, machine-learning network on its decentralized blockchain. It allows developers to train their AI models, rewarding those who provide the most value to its ecosystem with TAO.
TAO also plans to launch a marketplace for artificial intelligence where users can test and acquire AI services directly from their developers. Prices have surged 79% in the past month.
4. Fetch.ai (FET)
Fetch.ai gives users on its network access to automated bots that have access to huge volumes of data. These bots can be used to automate various tasks, from shopping online for the best deals on event tickets, to managing the logistics of transportation hubs. FET has gained lots of momentum in the past month as prices grow by over 75%.
5. SingularityNET (AGIX)
AGIX has been one of the fastest-growing altcoins in the past month as prices have surged by over 150%. Its ecosystem empowers users to create and monetize artificial intelligence services. It runs a global artificial intelligence marketplace where users can test and buy a wide range of AI services.
Summary
All of the altcoins on our list could outperform Bitcoin this year thanks to the problems they solve and the tremendous inflow of capital into AI. InQubeta, in particular, is expected to outperform most cryptocurrencies, with some projections expecting as much as 10,000% growth.
