The value of artificial intelligence (AI)-related cryptocurrencies saw notable growth in 2023, driven by a surge in adoption and development in the technology. Multiple projects capitalized on the AI ​​boom to revitalize their roadmaps, introduce new products and services, and grow their infrastructure. Today, artificial intelligence is expected to be a technological complement capable of unlocking greater potential and benefits for blockchains, smart contracts and protocols in the sector.

IA Cryptocurrencies 2023

In market terms, the cryptocurrencies of these protocols gained ground and evolved positively in 2023. According to data from CoinMarketCap, the market capitalization of IA cryptocurrencies exceeded $20 billion at the end of 2023, thanks to the growth of different projects related to infrastructure decentralized powered by blockchain.

List of the main cryptocurrencies linked to AI by prices and capitalization in 2023:

Akash Network (AKT)

Without a doubt, #Akash Network ( AKT ) was one of the biggest winners in the AI ​​crypto market in 2023. The price of AKT, which had barely managed to surpass $0.60 until July, achieved significant gains in Two occasions. One, between August and September, with a maximum of $1.60. The other, starting in mid-November, when it completed an upward cycle that took it to a maximum of $2.39, thus completing an annual increase of more than 1,100%. Currently, the price of AKT surpassed the $3 barrier for the first time since October 2021. In terms of capitalization, AKT grew from $22 million at the beginning of 2023, to more than $550 million by the end of the year.

AKT price between January 2023 and January 2024. Source: CoinMarketCap

Akash Network is an open source cloud computing infrastructure, built and deployed as a Cosmos ecosystem network. As a platform, it offers services and a cloud computing market for applications and protocols that require computer processing. In 2023, Akash managed to complete different upgrades to its main blockchain, most recently version 9, supported the creation of a generative AI imaging model, and launched other AI-based products such as Akash Chat, an application that allows you to use the potential in the cloud to chat with leading AI models.

The Graph (GRT)

The price of $GRT increased by nearly 200% throughout 2023, registering a degree of volatility at the beginning and end of the year. GRT started last year at $0.05 and closed 2023 at $0.20, the highest price since May 2022. GRT's market capitalization achieved substantial growth over the past year, rising from $518 million to more than $2 billion at the end of December of 2023, consolidating itself as one of the main AI cryptocurrencies on the market.

GRT price between January 2023 and January 2024. Source: CoinMarketCap

The Graph is a decentralized data indexing protocol that works through an ecosystem of APIs, called subgraphs, designed to feed data to both Web3 applications and users. In 2023, Semiotic Labs, lead developer of The Graph, outlined their vision to optimize the protocol through the use of AI, which they defined as a fundamental piece in the future of the network and its data indexing ecosystem. It also launched its AI-based services:  AutoAgora and Allocation Optimizer.

Fetch.ai (FET)

The cryptocurrency $FET recorded significant gains in 2023. After starting the year trading at $0.09, the price of FET exceeded $0.54 in February. Cerro 2023 above $0.76. FET's capitalization grew significantly, going from $79 million to more than $600 million in December 2023.

FET price between January 2023 and January 2024. Source: CoinMarketCap.

2023 was undoubtedly a huge year for the Fetch.ai project, which managed to accentuate its task of connecting blockchains with artificial intelligence. Over the past year, #Fetch.ai received a $40 million investment to boost its platform. It introduced Agentverse, a cloud platform for creating agents, and added AI features within its Fetch Wallet. The project offers a decentralized infrastructure for the construction and development of applications and services, thanks to its autonomous agents, called AI agents, which are custom-created assistants to execute different tasks and make decisions based on analysis and data.

Render (RNDR)

The annual growth of $RNDR was notable. The Render project's cryptocurrency rose 800% in 2023, a year that began with a price just above $0.48. After some volatility during the year, it managed to rise to an annual high of over $5.1, the highest point since the end of 2021. In terms of market capitalization, RNDR closed 2023 with a high of $1.9 billion, after starting the year at about $357 million, according to data from CoinMarketCap.

RNDR price between January 2023 and January 2024. Source: CoinMarketCap

#Render Network works as a decentralized infrastructure for rendering via Graphics Processing Unit (GPU). It allows the rental of GPU power from network users by artists, video game studios, artificial intelligence platforms or metaverse, among other use cases. Render managed to integrate and expand support for AI features to unlock greater potential for its platform throughout 2023, emerging as one of the projects to watch during 2024.

Injective (INJ)

#Injective was one of the cryptocurrencies that gained the most in 2023, not only in the AI-linked crypto space, but in the crypto market in general. The price of INJ registered an annual increase of more than 2,500%, after going from $1.27 to more than $43. This figure allowed it to close 2023 with an all-time high since its launch in 2020. INJ's market capitalization went from $92 million to more than 3.4 billion in 2023.

INJ price between January 2023 and January 2024. Source: CoinMarketCap

Injective combines an artificial intelligence platform with decentralized finance (DeFi), making it easy to create decentralized applications and protocols, using functions to automate processes.

Oasis Network (ROSE)

Throughout 2023, the price of #rose achieved an increase of more than 200%, advancing from $0.03 to a high of almost $0.14 at the end of the year. Its market capitalization went from $200 million to more than $930 million.

ROSE price between January 2023 and January 2024. Source: CoinMarketCap.

Oasis is a blockchain noted for its speed, scalability, and privacy. Oasis' positive performance in 2023 emerged largely thanks to the use of its blockchain infrastructure to facilitate privacy and security in the responsible development of AI, a critical point in debates and conversations around the technology. Oasis partnered with AI developers, such as the giant Meta and Personal.ai, to leverage their network to protect data for training AI models

Source: Observatorioblockchain.com