Loading...

Preparing for the Bull Market: 5 AI Altcoins Set for a Breakout

Most read

Loading Most Ready posts..

We are over a month into 2024 and the crypto market has already set its sights on higher gains. With a market capitalization of over $1.3 trillion, the sector has been making rapid strides and has attracted many institutional buyers.

The reasons behind the sector’s uptrend include the excitement around spot Bitcoin exchange-traded funds (ETFs). These financial products boost regulated access to cryptocurrencies like Bitcoin without requiring one to hold the token. 

In January 2024, US regulators approved the launch of 11 funds after much deliberation on the legal aspects of BTC ETFs. As expected, the ETFs took the market by storm and posted record investor inflows.

Another reason that analysts believe has led to the surge of the crypto market is the rising interest in AI-led top crypto coins. The AI blockchain market is pegged to grow to over $980 million by 2030 and can open up several opportunities for innovators. The convergence of AI and blockchain helps cryptocurrencies offer enhanced transparency and speed of transactions. 

If you look at the current market trends, AI-centric altcoins like InQubeta (QUBE), Render Network (RNDR), Injective (INJ), SingularityNet (AGIX) and Fetch.ai (FET) are among the top performers.

1. InQubeta: Helping AI startups with Funding and Marketing

InQubeta has been designed as a fuss-free crowdfunding service that takes worries off startups’ plates and enables them to focus on innovation. Its native cryptocurrency, the QUBE token, is the mode of payment and the governance token. 

The token has left the crypto community impressed with its presale success. Its cryptocurrency ICO has so far raised over $8.9 million.

The number of QUBE tokens is capped at 1.5 billion and 65% of this supply is meant for public sales. The remaining is plowed back into the platform to pay for marketing, legal fees, maintaining liquidity, and rewards. 

InQubeta supports its ecosystem growth with facilities like staking which ensures rich rewards for token holders and increases liquidity. If a crypto user stakes a token, the owner will earn passive income for as long as the asset stays locked in the liquidity pool. InQubeta gives out staking rewards from a staking pool that’s funded by tax collections.

InQubeta is among the good cryptos to buy because of how it keeps your returns from plunging even in volatile markets. The QUBE token is built on a deflationary model which reduces the asset’s supply under adverse conditions like inflation. 

With high demand chasing a low supply, the asset prices don’t fluctuate and stay stable. The mechanism drives up the value of cryptocurrency even as other asset categories might be trading in the red. 

If the supply rises during such times, it’s reduced again with the token burn mechanism which destroys extra tokens. The mechanism is also used for reining in internal inflation which commonly occurs when higher tax proceeds can push the supply higher. 

To avoid internal inflation, 1% of the tax collections from every transaction is burned. The rest is used for rewards, marketing campaigns, and liquidity pools.  

All decisions regarding the protocol or new additions to it are made by community members who are given special voting privileges. Before a protocol upgrade or a suggested change is implemented, it’s put to a vote. Here, token holders use their voting rights to keep irrelevant changes away. 

The startups approaching InQubeta for fundraising are carefully selected through a screening process. The mechanism helps in checking how well a startup is aligned with the platform’s vision. 

These startups connect with investors through an NFT portal which even allows fractional investment. The NFTs traded at the marketplace are tokenized versions of startups’ projects and their rewards and are bought with QUBE tokens.

Once an enterprise has secured funding for an AI project, it can explore services on InQubeta to scale its business. If they would like to learn more about the AI industry and its challenges, they can interact with veterans from the field using the platform’s guidance support. Startups can find mentors to guide them along their growth journey and learn from their insights.

The platform also has a service to guide entrepreneurs in legal and financial-related problems. By consulting a group of experienced advisors, they can navigate their way through such challenges and get their business back on track.

There’s help available for startups struggling with brand outreach as well. They can grow their network by interacting with professionals from varied fields while spreading the word about their projects. By leveraging InQubeta’s social media presence, startups can let more people know how they are driving impact with AI.

Join InQubeta Presale

2. Render Network’s RNDR usage rises in Q4

The Render Network is a decentralized platform connecting artists with rendered 3D media. Its native token RNDR is used for paying for GPU rendering services. It empowers artists to scale their GPU rendering network. 

This allows the artists to meet the rising demand for advanced GPU nodes globally. The platform also facilitates network scalability so that 3D rendering services can be widely accessible.

The platform hit the headlines after it unlocked a new achievement in terms of RNDR usage which soared in the fourth quarter of 2023. In Q4, 1,074,045 units of RNDR tokens were used – almost twice that of Q3’s 549,750 units. The surge was led by Apple Vision Pro and Sphere which highlight how Render Network can be used for immersive rendering jobs. 

In terms of year-on-year growth, the platform rendered 943,036 more images in the fourth quarter of 2023 than in the same period in 2022. In Q4 of 2023 and 2022, the Render Network had rendered 3,026,317 and 2,083,781 frames, respectively.

3. Injective-powered Exotic Markets goes live on mainnet

Injective is a Layer 1 blockchain that facilitates the deployment of DeFi-centric dApps. Its native token INJ is used for all transactions. These transactions are also confirmed instantly by the Tendermint proof-of-stake protocol. 

The dApps powered by Injective are secured by a network of validator nodes spread globally. There are a range of features available for customizing dAPPs. These features include liquidity support and plug-and-play modules like an on-chain derivatives order book. 

Injective regularly features on developers’ top picks due its interoperability. Developers can transfer Web 3.0 data and assets between blockchains for any Injective-based dApp. All such dApps can access Layer 1 networks for seamless communication. 

Injective’s journey as a top crypto to invest in was facilitated by its zest for exploring new opportunities. Its recent initiatives included the mainnet launch of Exotic Markets, an option and derivatives infrastructure powered by Injective blockchain.

Injective remains a hot bet for experts who have predicted that it might witness a price breakout rally soon. 

4. Singularity.Net to co-host ‘Beneficial AGI Summit 2024’ in Panama City

Singularity.Net is among the best altcoins available in the market today and it helps in creating and monetizing AI-based services. Some of its popular features include an AI publisher and marketplace. Here, developers can use algorithms to create, edit, manage, and sell their AI services. 

Another cutting-edge feature of the platform is the Domain-Specific language which is a self-organizing network comprising AI agents. Crypto users can outsource their work to these agents for a range of tasks like payments, exchanging data, and other AI functions. 

To avail of these services or any other transactional purpose, crypto users will have to use Singularity.Net’s native token AGIX.

The platform has been in the news due to the ‘Beneficial AGI Summit 2024’ that it will be co-hosting and is slated to be held from February 27 to March 1, 2024. Though the summit is being held in Panama City those interested can attend it virtually too. The summit will bring together different stakeholders from the AI sector to shed light on the emergence of beneficial AGI.

5. Students use Fetch.ai to create job hunting portal

Fetch.ai is among the new altcoins that are making AI-based tools more accessible for developers. Using the platform, developers can create scalable dApps and content creators can monetize their AI-based services. Its native token AGI comes in handy for settling all payments on the network. 

The open-source platform offers ‘AI Agents’ which can be leveraged to turn legacy systems into AI-ready ones. These AI agents are like modular building blocks for decentralized systems and can be programmed to perform certain tasks. The best part is that the switch will not involve any messing with the existing APIs. 

The platform was recently in the news after a group of students from the Indian Institute of Technology-Bombay (IIT-B) created a solution for job hunting using Fetch.AI. Called ‘Job Mitra’, the solution uses AI Agents to help find jobs tailored to a candidate’s skills. The solution is trained on 2,400 resumes and uses a K-nearest approach neighbor. The solution won the second prize at the institute’s TechFest. 

Conclusion

While building a portfolio, most crypto users are concerned about which crypto to buy today for the long term. It’s a valid concern that pushes them into doing a deep dive and evaluating their options. If you ask analysts, their top bets are AI-led altcoins like InQubeta, Render Network, Injective, SingularityNet, and Fetch.ai. 

These crypto projects represent the fast-paced world of AI and how it’s making inroads into the world of DeFi. 

If Injective and Fetch.ai are developer-friendly platforms for creating dApps, the RenderNetwork is catalyzing the decentralized GPU services market. There are other leading coins like InQubeta which is laying the foundation of the future of AI and is likely to be among the top ICOs of the year.

A section of market experts have also claimed that these tokens are in line for a breakout in the coming months.

While these cryptocurrencies hold a lot of promise, crypto users are advised to always research a token before making a purchase. By doing their due diligence, users can avoid potential risks associated with a token and make financially responsible decisions.

Visit InQubeta Presale 

Disclaimer. This is a sponsored post. Cryptopolitan does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. Cryptopolitan is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this sponsored post.

Share link:

Guest User

Stay on top of crypto news, get daily updates in your inbox

Related News

Cryptopolitan
Subscribe to CryptoPolitan