AI-Focused Altcoins Take Lead as AI Chip Maker Nvidia Posts Record Earnings

Bitcoin and other major digital assets have been in sideways motion for much of the past week—with the exception of some altcoins playing catch-up.

However, it is interesting to note that there are still well over a dozen altcoins which have bucked the trend and have gained well in excess of 40% up to almost 140% week-on-week. And quite a few of these are related to artificial intelligence (AI) which comes on the back of the release of Sora, a video-making tool leveraging AI and Nvidia, the Chip manufacturer posting much better-than-expected quarterly results.

Nvidia’s record earnings are bullish for AI, and crypto has certainly some promising projects related to that field, although there is a lot of hype and some analysts think the crypto AI narrative won’t last.

Nevertheless, as you can see from the graph above, there are several AI-related cryptos that have shot up in the past week—notably the gap between market cap and trading volume of AI vs the general crypto market suggests there is still a lot of potential.

Disclaimer: Investors should exercise caution and conduct thorough research before investing in any cryptocurrency, especially AI-focused altcoins, due to their highly speculative nature, the potential for significant volatility and the loss of capital.

Delysium (AGI) Sees Largest Gains

Delysium AGI has gained 141% week-on-week, but as per CMC is a relatively small project, ranking at spot 375, with USD $111m (AUD $168m) in market cap.

Delysium describes itself as an “AI-Agent Network and supporting ecosystem with a focus on ensuring security, scalability, and high-speed communication.”

You can read up on them in their whitepaper, remember to do your own research, small projects with low market cap are subject to volatility swings and rug-pulls.

Openfabric AI (OFN)

Openfabric AI has seen similar gains, 130% in the past week, but even more so in the past 24 hours when it soared by 37%. With a market cap of just USD $35m (AUD $53m) this project could be promising potentially bigger gains, but also brings higher risks.

OFN is a layer-1 and says about itself it is “building and connecting AI applications where we have harnessed the power of blockchain, advanced cryptography, and novel infrastructure to create a new foundation for AI-Apps.” Be sure to read the whitepaper before even considering this one.

Artificial Liquid Intelligence (ALI)

Artificial Liquid Intelligence has gained 130% in the past week, but also lost around 3% in the past 24 hours. It has a market cap of approx. USD $190m (AUD $289m) and is therefore one of the larger projects among these recent gainers.

Artificial Liquid Intelligence (ALI), weekly graph, source: CoinMarketCap

ALI appears to be a decentralised protocol around intelligent NFTs, so-called iNFTs, looking to integrate generative AI capabilities into NFTs.

Their whitepaper contains a disclaimer that they discourage speculative investment saying “ALI Token purchasers are not invited to take part in a financial venture, but in a social and technological one.”

Remember to do your own research and that your capital is at risk.